Ministers Meet On ONGC Share Sale Cancelled

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>A meeting of ministers scheduled for Monday to discuss a sale of shares in state-run Oil and Natural Gas Corp has been cancelled, a finance ministry source said.<br><br>The meeting has been cancelled because Finance Minister Pranab Mukherjee, who is head of the ministerial panel discussing the sale, is travelling and is not able to attend, said the source, who did not wish to be named.<br><br>No new date has been set for the meeting, the source said.<br><br>The ministerial panel approved a plan earlier this month to sell some of the government's shareholding in ONGC through a share auction but did not set any timeframe.<br><br>The government had planned to raise up to Rs 12,250 crore through a public offering of ONGC shares but that plan was scrapped in October after it was met with tepid response from investors.<br><br>(Reuters)</p>