The potential sale of entire government stake in Bharat Petroleum Corp Ltd (BPCL) could result in a reassessment of linkages between the government and oil marketing companies, Fitch group firm India Ratings and Research said on Tuesday.
Traditionally, oil marketing companies (OMCs) have been used by the government to push its inclusive agenda, the latest being the dole out of free cooking gas (LPG) cylinders to poor women households.
BPCL’s stake sale is part of the government’s disinvestment target of Rs 1.05 lakh crore, which also includes divestment of other state-owned companies such as Shipping Corp of India (SCI), THDC India Ltd and North Eastern Electric Power Corp Ltd, and a 30 per cent stake sale in Container Corp of India.
