MUMBAI, Nov 8: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. (PTI)
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