Queries on BPCL staff retention

The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd (BPCL) to potential acquirers of the company only at a later stage of bidding, according to privatisation rules issued by the disinvestment department.

The government is selling its entire 52.98 per cent stake in the country’s second-largest fuel retailer and third-biggest oil refiner.

Preliminary expressions of interest (EoIs) are due on September 30, which will be followed by qualified bidders being asked to submit financial or price bids.