Pricing critical to ONGC divestment issue: Former Finance Secretary

The government is expected to announce a slew of divestment proposals on Friday. Ahead of that Ashok Kumar Jha, Former Finance Secretary feels that the government must price the issues reasonably in order to ensure success of the divestment program. Jha feels that ONGC divestment debacle was largely due to poor pricing of the issue rather than the auction method used. He also said that while there are no concerns about LIC participating actively in the divestment process, the government should not use LIC as a way to push through the issues.