THE Narendra Modi-led NDA government is
mulling to sell part of its stake in the Bharat Petroleum Corp Ltd
(BPCL). The divestment of the Navratna PSU is at the
inter-ministerial consultation stage, parliament was informed on July
24.
"The issue regarding disinvestment
of BPCL is presently at the inter-ministerial consultation stage.
Decision can be taken only after the consultation process is over,"
Minister of State for Finance Jayant Sinha told the Lok Sabha in a
written reply to a query on whether...
the government proposes to sell 3
percent stake in the oil marketer.
The government holds 54.93 percent
stake in country's second largest state oil company after Indian Oil.
The Centre proposes to raise Rs.69,500
crore through disinvestment in the current fiscal, and the junior
finance minister said it has identified undertakings for
disinvestment in sectors that include defence, fertiliser, heavy
engineering, mineral and metals, oil, power, steel, technical
consultancy, tourism, transport services, trading and marketing.
July 24 (Friday) was also the last day
for submission of bids to the department of disinvestment (DoD) by
both merchant bankers and legal advisors for being appointed for the
stake sale in 10 public sector undertakings (PSUs).
The DoD had earlier this month invited
proposals for appointing merchant bankers for up to three years for
the proposed stake sales in Oil India, Container Corp, NMDC, MMTC,
ITDC, NTPC, Engineers India, BEL, Nalco and Hindustan Copper.
The government has informed the
interested bankers that the time taken for actual completion of
transaction will depend on the market and other related conditions.
While the 10 companies have been
divided into two baskets, the DoD would appoint four merchant bankers
for each basket, he added.
In a bid to check any conflict of
interest, the merchant bankers have to certify that they are not
advising or acting on behalf of any other person or entity which is
engaged in the same line of business as that of each of the company
constituting the basket being disinvested.
The government plans to raise Rs.41,000
crore through stake sale in PSUs, and another Rs.28,500 crore through
strategic stake sale by transfer of management control.
Recently, the Centr has approved the
sale of a 10 percent stake in the Indian Oil Corporation (IOC) and
five percent stake in the NTPC.
Bharat Petroleum Corporation Limited is
one of the largest public sector oil marketing companies in India
with three operating refineries.
This is the NDA govt hidden agenda,they sell all psu and close all Indian industries,we have to pay for electing BJP..THIS IS THE ORIGINAL NDA GOVT FACE.
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