ALL decks are cleared for the disinvestment of BPCL (Bharat
Petroleum Corp Ltd). We hear the decision is going to be a somersault on the
part of the Government of India, and may give final shape to the privatisation
structure of the oil industry in India.
All reforms in oil sector will have to answer one pertinent question:
will it unburden the oil import bill or not? If not, then all amalgamation,
reforms, alliance and disinvestment may prove to be just just window dressing.
The Modi government had quietly repealed the legislation that had nationalised
BPCL, doing away with the need to seek Parliament’s nod before selling it off
to private and foreign firms.
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