CPSEs, state-owned co-operative societies excluded from bidding BPCL

Nipping any such possibility in the bud, Central Public Sector Enterprises and central government-owned cooperative societies with government holding of 51 per cent or more will not be allowed to participate in the bidding process for privatisation of state-run oil refining and marketing firm Bharat Petroleum Corporation Ltd (BPCL), according to the global expression of interest issued by the government on Saturday.

The government has sought bids to sell its 52.98 per cent stake in BPCL to a strategic partner along with transfer of management control. Prospective bidders have time until May 2 to file their EoIs.