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The Government Says The Privatization Of Bharat Petroleum Has Aroused Extraordinary Response


The government said the disposal of BPCL had attracted a lot of interest

New Delhi:

The government has informed Parliament that it has received various Expressions of Interest (EoI) for the privatization of Bharat Petroleum Corporation Limited (BPCL), and the transaction is in the second stage of the process.

In a written reply to a question at the Rajya Sabha on the privatization of Bharat Petroleum, state minister for finance Bhagwat Karad said, “the transaction adviser appointed for the privatization of BPCL has informed that several EoIs have been received.”

The Minister further stated that the transaction advisor bound by the agreement did not disclose for not sharing relevant information with the bidder during the currency of the process to ensure the bidding was not competitive abetment.

On the question of whether the government has a plan to ensure the job security of employees during BPCL, the minister noted that the terms and conditions of the strategic disposal in the share purchase agreement were appropriate to address employees ’concerns.

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