Bidders have been shortlisted for the divestment of Hindustan Petroleum Corporation Ltd, in which the government has decided to take the strategic sale route, Rajya Sabha was informed on Thursday.

"Advisors have been appointed to assist the government in the divestment of both HPCL and Bharat Petroleum Corporation Limited. In the case of HPCL, in which the government has decided on the strategic sale route, bidders have also been short-listed," Commerce and Industry Arun Jaitley said in a written reply.

The minister replied in the affirmative on whether cases were still pending in the Supreme Court against divestment of these companies.

To another question on whether the government proposes to review the strategy of divestment in HPCL, BPCL and Air India among other companies, Jaitley replied in the negative.

Jaitley said the tenure of Divestment Commission has been extended till October 31, 2004, on the existing terms of reference and currently 18 PSUs are being considered by it.

These include Bharat Sanchar Nigam Ltd, Container Corporation of India, Mahanagar Telephone Nigam Ltd, National Films Development Corporation and Numaligarh Refinery.

Answering another question, he said 39 PSUs are currently in the process of being divested but of these 12 have negative worth.