Partial privatisation of BPCL not on cards, says top govt source

The Centre is not considering partial privatisation of BPCL, a top government source has told Business Today TV. As per the source, the government is relooking at BPCL disinvestment plans and will soon come out with fresh details.

We are not considering partial privatisation for BPCL as in previous instances the model hasn't given results, the source added. 

BPCL disinvestment was scrapped because there was a single bidder situation and in such a situation the bidder gets an upper hand in dictating the narrative, the source further added.

The Ministry of Petroleum & Natural Gas (MoPNG) is also working to achieve the target of 20 per cent ethanol blended fuel to be available at select petrol pumps in the country from 1st April 2023. 

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