NEW DELHI: A group of secretaries on strategic disinvestment has approved the sale of the government’s entire shareholding in Bharat Petroleum Corporation Ltd (BPCL) and the Shipping Corporation of India (SCI), paving the way for a complete exit from the two profit-making PSUs.
This will be the first significant strategic sale of PSUs by the BJP-led government at the Centre.
“Strategic sale of BPCL and SCI has been approved by the group of secretaries on disinvestment. It will now go to the Cabinet for approval,” a Finance Ministry official told TNIE.
The official added stake sale in BPCL may also require a nod from Parliament as the earlier company — Burmah Shell — had been nationalised through an act of Parliament.
