Decision On Bpcl, Hpcl Selloff Mode In 10 Days

The government will take a final decision within 10 days on the mode to be followed in privatising Bharat Petroleum Corporation and Hindustan Petroleum Corporation even as the disinvestment ministry stuck to its stand on a strategic sale before a public issue.

Disinvestment secretary Pradip Baijal said a decision will be taken by the cabinet in seven to ten days but his department would prefer a stategic sale first. He said the disinvestment department would hold detailed discussions with the petro leum ministry before the cabinet meeting takes place.

The board of BPCL has already a passed resolution deciding to go in for a public offering and are awaiting the Union government