NEW DELHI: Federation of Oil PSU Officers on Thursday appealed Prime Minister Narendra Modi to reconsider the decision to privatise the country’s second-largest oil refiner and marketer BPCL, saying the government can get much more than it is currently expecting from the sale.
\nIn a letter to the PMO, the umbrella body representing state-run oil company executives said their internal valuation of BPCL was over Rs 9 lakh crore, whereas the government has estimated a receipt of Rs 74,000 crore. “Based on the current market price of the immovable assets, replacement cost of the plant & machinery and brand value, the estimated valuation of BPCL done by an internal team comes to be over Rs 9 lakh crore.”
\nThe government, however, the letter said, is considering BPCL’s current market capitalisation of Rs 1.06 lakh crore and a 30% premium (typically offered for corporate buyouts), the government has estimated a receipt of approximately Rs 74,000 crore through this disinvestment.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Federation of Oil PSU Officers on Thursday appealed Prime Minister Narendra Modi to reconsider the decision to privatise the country’s second-largest oil refiner and marketer BPCL, saying the government can get much more than it is currently expecting from the sale. In a letter to the PMO, the umbrella body representing state-run oil company executives said their internal valuation of BPCL was over Rs 9 lakh crore, whereas the government has estimated a receipt of Rs 74,000 crore. “Based on the current market price of the immovable assets, replacement cost of the plant & machinery and brand value, […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-305602","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/305602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=305602"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/305602\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=305602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=305602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=305602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}