In a mega divestment move, the government on Wednesday approved the strategic disinvestment of five PSUs, including Bharat Petroleum (BPCL). The buyers will get complete management control for BPCL, Finance Minister Nirmala Sitharaman said in a media briefing after the cabinet meeting. However, Numaligarh Refinery will not be disinvested, Nirmala Sitharaman added. Numaligarh Refinery in Assam will be carved out of BPCL before privatisation and will remain a PSU, said Nirmala Sitharaman. BPCL owns 61.65 per cent share of Numaligarh Refinery in Assam. Other than BPCL, the remaining CPSEs included SCI, CONCOR, THDCIL, and NEEPCO. The government also cleared the proposal to reduce its direct holding in these PSUs to below 51 per cent.
