Government Says Bharat Petroleum's Privatisation Has Evoked Overwhelming Response
Government has informed Parliament that it has received multiple Expressions of Interest (EoIs) for privatisation of Bharat Petroleum Corporation Limited (BPCL), and the transaction is in the second stage of the process.
In a written response to a question in Rajya Sabha on Bharat Petroleum's privatisation, minister of state for finance Bhagwat Karad said, "transaction advisor appointed for the privatisation of BPCL had informed that multiple EoIs had been received."
The minister further stated that the transaction advisor is bound by the non-disclosure agreement for not sharing the information relating to bidders during the currency of the process to ensure competitive non-collusive bidding.
On a question of whether the government has a plan in place to ensure the security of jobs of current employees of BPCL, the minister stated that the terms and conditions of the strategic disinvestment in the share purchase agreement suitably address employees' concerns.
