The Centre has decided to pull the plug on the plan to privatise Bharat Petroleum Corporation Ltd (BPCL).
The country’s second largest oil marketing company was envisioned as the tour de force of India’s disinvestment programme ever since the Union cabinet first approved plans to sell its 52.98 per cent stake in the petroleum refiner back in 2019.
The BPCL selloff plan has ground to a halt because only one bidder — Anil Agarwal’s Vedanta Ltd — was left in the fray after two US-based private equity players walked out over the lack of clarity over fuel pricing.
