Govt’s BPCL sell­off needs House nod

The Times of India (New Delhi edition) - - Times Global -

New Delhi: The govern­ment is con­sid­er­ing a pro­posal to sell the coun­try’s sec­ond-largest state re­finer and fuel re­tailer Bharat Pe­tro­leum (BPCL) to for­eign and pri­vate firms but the pri­vati­sa­tion plan will need a nod of Par­lia­ment, of­fi­cials said. The govern­ment plans to sell most of its 53.3% stake in BPCL to a strate­gic part­ner, of­fi­cials said.

The Supreme Court had in 2003 ruled that BPCL, as well as HPCL, can be pri­va­tised only af­ter Par­lia­ment amends a law it had passed to na­tion­alise the two firms.

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