(The Hans India)
The government has put the privatization of Bharat Petroleum Corp Ltd (BPCL) on hold. Several reasons, like rising crude prices and indifferent performance of the BPCL share, are said to be responsible for the halt. “BPCL privatization is not on track,” a senior official in the Department of Investment and Public Asset Management (Dipam) informed Bizz Buzz. “It’s not moving. Decision is on the table. We have to take it.”
He, however, didn’t specify what decision the government is contemplating. The Dipam official actually confirmed what Vedanta Group Chairman Anil Agarwal had said on April 24. “It (BPCL divestment) will not happen. They’ve said that they (the government) have withdrawn the offer, they will come back with a new strategy,” he had told a news website.
