Govt may not let other PSUs to buy into BPCL

New Delhi: A day after the Centre announced its plans to divest its majority stake in BPCL, Oil Minister Dharmendra Pradhan on Thurs-day reiterated his earlier statement that the government has no business to be in business, hinting that other public sector oil companies, including Indian Oil Corporation, may not be allowed to bid for buying the government stake in BPCL.

The Cabinet Committee on Economic Affairs (CCA) had on Wednesday cleared to sell the government’s entire 53.29 per cent stake in the country’s second-largest state refiner along with other four PSUs, including country’s largest shipping company Shipping Corporation of India. The government expects to garner Rs 90,000 crore from the BPCL sale.