BPCL conundrum: Govt sure of good returns, but says it's race against time

Govt officials and industry experts confident that the Centre's stake in BPCL can be sold at a premium of 20-30%

The planned privatisation of Bharat Petroleum Corporation (BPCL) has led to a problem for those in the government tasked to execute a deal. 

While officials are confident that BPCL has the attractiveness to garner proceeds at a healthy premium for the exchequer, they are less so when it comes to the deal being completed before March 31, 2020 and, hence, being counted in 2019-20 divestment proceeds.

Last week, the Union Cabinet cleared the sale of the government’s entire 53.29 per cent stake in BPCL. The plan excludes BPCL’s 61.65 per cent stake in the Numaligarh refinery in Assam. That will