BPCL ప్రైవేటీకరణ ఒక భారీ స్కాం||Privatisation of BPCL: A big scam
The government often defends disinvestments of public sector on the ground that it is getting rid of its financial burden due to loss making public sector companies. But, when it comes to action the government is selling profit making companies benefitting the private sector giants like reliance.
The government is contemplating the sale of majority shares of the Bharat Petroleum Corporation Limited (BPCL). The Department of Investment and Public Asset Management (DIPAM) has already invited request for proposals from eligible parties to work as transaction and legal advisors, and asset valuers for five PSUs, including BPCL. The government seems to be on a fast-track mode on this proposal.
The Glory of BPCL
BPCL is one of the eight ‘Maharatna’ companies with 53.29 per cent of shares owned by the central government. It is India’s sixth biggest company. For the last 16 years, BPCL is one among the top 500 global companies listed by Fortune magazine. In 2017, the company received ‘Maharatna’ status, putting it in the category of government-owned entities in India with the largest market capitalisation and consistently high profits.
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BPCL ప్రైవేటీకరణ ఒక భారీ స్కాం||Privatisation of BPCL: A big scam The government often defends disinvestments of public sector on the ground that it is getting rid of its financial burden due to loss making public sector companies. But, when it comes to action the government is selling profit making companies benefitting the private sector giants like reliance. The government is contemplating the sale of majority shares of the Bharat Petroleum Corporation Limited (BPCL). The Department of Investment and Public Asset Management (DIPAM) has already invited request for proposals from eligible parties to work as transaction and legal advisors, and asset valuers for five PSUs, including BPCL. The government seems to be on a fast-track mode on this proposal. The Glory of BPCL BPCL is one of the eight ‘Maharatna’ companies with 53.29 per cent of shares owned by the central government. It is India’s sixth biggest company. For the last 16 years, BPCL is one among the top 500 global companies listed by Fortune magazine. In 2017, the company received ‘Maharatna’ status, putting it in the category of government-owned entities in India with the largest market capitalisation and consistently high profits.
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