No Cabinet decision yet on BPCL disinvestment

It is being speculated that the Union Cabinet may take up a proposal to privatise BPCL as early as next week.

Published: 08th November 2019 04:33 PM  |   Last Updated: 08th November 2019 04:33 PM   |  A+A-

Bharat Petroleum, Petrol pump, BPCL

Picture for representational purpose (File Photo |EPS)


MUMBAI: State-owned Bharat Petroleum Corporation Ltd (BPCL) has not received any official communication from the government on a proposal to privatise it, a top official said.

There is a possibility of government selling its 53.29 per cent stake along with management control in oil marketing and refining firm for about USD 10 billion (around Rs 70,900 crore).

"As far as the privatisation issue is concerned, BPCL has not been told anything officially so far. I have not got any idea of any other information about any concrete proposal from the government side," BPCL director (finance) N Vijayagopal told reporters on Friday. He said the Cabinet is yet to take a decision for disinvestment of BPCL.

"The decision can be taken at the level of the Cabinet committee and that has not happened so far," Vijayagopal said.

It is being speculated that the Union Cabinet may take up a proposal to privatise BPCL as early as next week.

Stake sale in BPCL is critical for the government to meet its disinvestment target of Rs 1.05 lakh crore set for the current fiscal year.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp