Despite the Covid-19 lockdown, the central government is keeping the ball rolling for divestment of its stake in Bharat Petroleum Corporation (BPCL). The Assam government has given a no-objection certificate (NOC) for the sale of 61.65 per cent BPCL stake in Numaligarh Refinery (NRL).
The sale of NRL to a state-run entity is seen as a first step towards the divestment process of BPCL. The state has given the NOC to the deal on the condition that another 13.65 per cent stake in NRL will be sold to Assam, increasing its total stake in the project from 12.35 to 26 per cent.
