Kerala Chief Minister Pinarayi Vijayan has sought the intervention of Prime Minister Narendra Modi in curtailing the Centre’s move to privatise Bharat Petroleum company. “I would like to draw your kind attention to the reported move to privatize Bharat Petroleum Corporation Limited and request your intervention to retain the entity in public sector,” stated Pinarayi Vijayan‘s written letter to PM Modi, as per news agency ANI.
Notably, the central government has planned to sell India’s second-largest state refiner and fuel retailer BPCL to foreign and private firms, stated a report. However, officials claimed that the privatisation plan will need prior approval from the Parliament.
The government is mulling on selling a majority of its 53.3 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) to a strategic partner as a tactic to boost competition by inviting multi-nationals in the domestic fuel retailing sector, stated officials, according to news agency PTI. Besides, this plan to privatise BPCL will help the government achieve at least a third of its Rs 1.05 lakh crore disinvestment target.
Kerala CM Pinarayi Vijayan in a letter to PM Narendra Modi: I would like to draw your kind attention to the reported move to privatize Bharat Petroleum Corporation Limited & request your intervention to retain the entity in public sector.
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