Govt has no business to be in business, says Pradhan ahead of BPCL privatisation

Days before the Union Cabinet takes up a proposal to privatise state-owned BPCL, Petroleum Minister Dharmendra Pradhan on Thursday said the government has “no business to be in business”, and cited examples of telecom and aviation sectors where opening up had led to increased competition and price cuts to the benefit of consumers.

Refusing to comment specifically on the possibility of the government selling its entire 53.29 per cent stake along with management control in oil marketing and refining firm Bharat Petroleum Corp Ltd (BPCL) for about Rs 60,000 crore, he said the Centre’s role should be to create policy framework that guarantees “affordability, accessibility, sustainability and security” of fuel to consumers.