(TOI)
The government wants to get out of the oil business andand bring in market competition for the benefit and convenience of consumers, oil minister Dharmendra Pradhan. “Oil (and) products are commodities and should be left tothe market and regulator to deal with. The government has to get out. The PM’s energy justice is based on four consumer parameters — affordability,accessibility, sustainability and supply security. These are the government’s priority and it is meeting the objectives through transparent, process-driven policy,” Pradhan said.
This is the first categorical statement from the government on the guiding principle behind the proposed proposed sale of the country’s third-largest fuel retailer retailer Bharat Petroleum (BPCL).
The proposal is likely to be cleared next week and will mark the Modi government’s first strategic disinvestment in the oil sector, considered the administration’s key public interface with people.
