As revenue dips in Covid times, govt sets ball rolling for BPCL sale

The biggest deals are expected to the initial public offering of LIC and the BPCL deal. Other planned privatisation candidates include Air India, Concor, and Shipping Corp

The government is confident of completing the privatisation of Bharat Petroleum Corporation (BPCL) within 2020-21, as it scrambles to gather revenues in Covid-19 times.

Officials are soon expected to hold another round of talks with potential acquirers of BPCL, including Saudi Aramco and Rosneft, among others, and are moving ahead with the sale of BPCL’s stake in Numaligarh Refinery.

“We had slight disruptions due to Covid-19, but now we are on track regarding BPCL,” a top government official told Business Standard. The official said meetings with potential buyers would soon be held through videoconferencing. This follows a round of meetings