Friday, 1 July, 2022
TopicBPCL

Topic: BPCL

Government withdraws offer to sell 53% stake in BPCL as most bidders pull out

The privatisation process was stalled after two bidders walked out over issues such as lack of clarity in fuel pricing, with just one bidder left in the fray.

Why Modi govt’s modest Rs 65,000 crore disinvestment target for FY23 seems to be a tall order

Government has already met one-third of its Rs 65,000-cr disinvestment target for this year. But legal and procedural delays with high-value companies are now posing hurdles.

Why Modi govt’s BPCL privatisation process ran out of gas and is back to the drawing board

While govt was successful in selling Air India to Tatas, BPCL got pushed to the new financial year. The hope was it would be among the first big-ticket deals early in 2022-23.

Privatisation of PSU banks will create jobs, not take them away, says DIPAM secretary

Modi govt was expected to bring legal changes in banking laws to facilitate privatisation of PSU banks, but couldn’t after a nationwide protest by bank employees' unions.

Modi govt pushes BPCL privatisation, opens financial data to bidders

The BPCL privatisation, which could be the country’s biggest, is crucial for India. The govt needs to raise capital to make up the fall in tax revenues as the pandemic hit the economy.

Reforms, asset sales ‘on track’ — Modi govt confident Covid surge won’t hit budget decisions

Modi govt is of the view that 2nd Covid wave won't cause major economic disruption like it saw last year. Officials confident of Air India & BPCL sale 'in next few months'.

Govt confident of privatising Air India, BPCL by first half of 2021-22 — divestment secretary

Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, says the government's exit from many sectors will help it to neutrally administer its policy-making role.

BPCL gets multiple bids, but Modi govt set to miss Rs 2.1 lakh crore disinvestment target

Govt has also started process for independent valuation of LIC, which is necessary before the insurance major is listed on the stock markets.

Diesel price falls below Rs 73 per litre, petrol rate reduced for second time in 6 months

While petrol price was cut by 13 paise per litre on Saturday, diesel rates dropped by 12 paise, price notification of state-owned fuel retailers said.

81 queries from possible bidders for BPCL show Modi govt’s privatisation plan is on track

Modi govt is in the process of clarifying the bidders’ queries through a corrigendum to the offer document, and will go ahead with the privatisation.

On Camera

YourTurn

Representational image | Islam devotees offer Friday prayers during Ramadan, Patna, April 2022 | PTI

Quran says no one can limit others’ freedom. Udaipur killing violates Islam’s golden rule

Throughout history, Islamic scholars have uniformly agreed that respecting and obeying the law of the land is an essential aspect of faith.
The Reserve Bank of India logo | Photo: Suraj Singh Bisht | ThePrint

RBI intervenes with multi-pronged strategy in battle against rupee fall

The Reserve Bank’s challenges include crashes in forward dollar premiums to rising open interest in futures that adds to pressure on the currency.

Defence

National Security Adviser Ajit Doval | File photo: ANI

At 1st Maritime Security Group meet, NSA chief Doval stresses on coordination among stakeholders

Meeting chaired by Vice Admiral (retd) G. Ashok Kumar, India’s 1st national maritime security coordinator. ‘Crucial policy issues’ such as ‘blue economy initiative’ also discussed.

With Agnipath, Modi govt’s shock & awe doctrine may have misfired a vital reform, yet again

Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.
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