Government calls off BPCL privatisation; to re-initiate disinvestment in ‘due course’
The Centre on Thursday called off the process for the strategic disinvestment of BPCL and said the expressions of interest (EoIs) received in this connection “shall stand cancelled.”
The plan to sell its entire 52.98% stake in the fuel retailer-cum-refiner had hit dead-end as potential investors have turned more sceptical of “the lack of pricing freedom” with state-owned fuel retailers, besides the global shift for greener energy. Two bidders even walked out from the privatisation process.
