Cabinet may take up BPCL privatisation this month

Cabinet may take up BPCL privatisation this month

Union Cabinet is likely to take up the strategic disinvestment of the entire stake of government of India along with transfer of management control in oil marketing PSU – BPCL this month to push ahead the exercise, sources said.

Cabinet Committee on Economic Affairs could take up the BPCL privatisation issue this month, said sources. Meanwhile, Department of disinvestment or DIPAM has extended the date of appointment of legal advisor, asset valuer and transaction advisor for the oil marketing PSU to November 25, as per an official notice.

Bharat Petroleum (BPCL) is a CPSE under administrative control of the Ministry of Petroleum and Natural Gas. DIPAM had floated RFP or request for proposal on October 11.

So far there has been no official statement from the government on stake sale in BPCL on the decision, quantum or date. Read More

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