Partial privatisation of BPCL not on cards, says top govt source

Partial privatisation of BPCL not on cards, says top govt source

As per the source, the government is relooking at BPCL disinvestment plans and will soon come out with fresh details.

Advertisement
    Share:
Partial privatisation of BPCL not on cards, says top govt sourcePartial privatisation of BPCL not on cards, says top govt source
Chetan Bhutani
  • May 18, 2022,
  • Updated May 18, 2022 5:12 PM IST

The Centre is not considering partial privatisation of BPCL, a top government source has told Business Today TV. As per the source, the government is relooking at BPCL disinvestment plans and will soon come out with fresh details.

We are not considering partial privatisation for BPCL as in previous instances the model hasn't given results, the source added. 

Advertisement

BPCL disinvestment was scrapped because there was a single bidder situation and in such a situation the bidder gets an upper hand in dictating the narrative, the source further added.

The Ministry of Petroleum & Natural Gas (MoPNG) is also working to achieve the target of 20 per cent ethanol blended fuel to be available at select petrol pumps in the country from 1st April 2023. 

Also Read: World's largest passenger elevator installed at Jio World Centre

Also Read: ‘Congress focused on chicken sandwich for leaders from Delhi’: Hardik Patel in resignation letter 

The Centre is not considering partial privatisation of BPCL, a top government source has told Business Today TV. As per the source, the government is relooking at BPCL disinvestment plans and will soon come out with fresh details.

We are not considering partial privatisation for BPCL as in previous instances the model hasn't given results, the source added. 

Advertisement

BPCL disinvestment was scrapped because there was a single bidder situation and in such a situation the bidder gets an upper hand in dictating the narrative, the source further added.

The Ministry of Petroleum & Natural Gas (MoPNG) is also working to achieve the target of 20 per cent ethanol blended fuel to be available at select petrol pumps in the country from 1st April 2023. 

Also Read: World's largest passenger elevator installed at Jio World Centre

Also Read: ‘Congress focused on chicken sandwich for leaders from Delhi’: Hardik Patel in resignation letter 

ABOUT THE AUTHOR

Chetan Bhutani

Chetan Bhutani is a New Delhi-based economic policy journalist with ten years of experience in reporting and breaking stories about economic policy pertaining to India's infrastructure and financial sector, including highways, finance, railways, shipping, telecom, petroleum, and natural gas and currently works as an Associate Editor for Business Today TV. He is a journalist who works across multiple platforms and languages and offers in-depth coverage of the auto industry, regulations, new products, and reviews. Also, he has extensively reported about the actions taken by investigative authorities in relation to corporate and bank frauds as well as significant insolvency cases. Bhutani keeps a tight eye on all aspects of the government's public policies, from their creation to their implementation. In addition to his job, Chetan enjoys scheduling official appointments, travelling, going on road trips, playing cricket, and squash. Also, he is passionate about addressing climate change and road safety. He is a public policy enthusiast and has a master's degree in Public Administration.

Read more!
Advertisement