Cabinet approves strategic disinvestment of BPCL

Nirmala Sitharaman

Delhi: Cabinet has approved strategic disinvestment of Bharat Petroleum Corporation Limited, of Govt of India share holding of 53.29% along with transfer of certain management control.This is excluding BPCL’s equity share holding of 61% stake in Numaligarh Refinery says Finance Minister Nirmala Sitharaman.

Highlights:

  • Cabinet approves strategic disinvestment along with management control in Concor, THDCIL.
  • Numaligarh Refinery Ltd to be carved out of BPCL disinvestment.
  • Government to give up management control in the 5 PSUs.
  • Cabinet clears strategic disinvestment of 5 CPSEs.
  • NTPC to also buy govt stake in North Eastern Electric Power Corporation Ltd (NEEPCO).
  • Govt to lower stake below 51% in select PSUs, retaining mgmt control.
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