Union Cabinet gives nod to sell stakes in BPCL, 4 other PSUs: Nirmala Sitharaman
Finance Minister announced that Union Cabinet has approved the sale of its stake in 5 blue-chip PSUs including BPCL, SCI, THDC India, NEEPCO and Container Corp of India. The govt will sell its 53.29% stake in BPCL but the Numaligarh Refinery will be carved out of BPCL before privatisation & will be taken over by another private firm. The govt has plans to invite top global oil & gas companies to bid for its stake in BPCL.