Oil Minister Dharmendra Pradhan on Thursday hinted that public sector firms such as Indian Oil Corporation (IOC) may not be allowed to bid for buying government stake in Bharat Petroleum Corporation Ltd (BPCL), for which a buyer may have to shell out as much as Rs 90,000 crore.
The Cabinet Committee on Economic Affairs had on Wednesday decided to sell the government’s entire stake in the country’s second-largest state refiner BPCL and India’s largest shipping company Shipping Corporation of India (SCI). It also approved the privatisation of Container Corporation of India while also giving a nod to the paring stake below 51 per cent in select public sector undertakings but without losing control.
