The government may clarify that 100% foreign direct investment (FDI) limit through automatic route will be applicable to refiner-cum-retailer BPCL when it becomes a private company after the government sells its 52.98% stake in the company.
“Up to 100% FDI is allowed in private sector in refining, and BPCL is getting privatised by government. The Department for Promotion of Industry and Internal Trade needs to clarify,” a senior finance ministry official said.
