Cabinet approves strategic disinvestment of BPCL

On Wednesday, Finance Minister Nirmala Sitharaman announced that the cabinet had approved a strategic disinvestment of Bharat Petroleum Corporation Limited.

She said: “Cabinet has approved strategic disinvestment of Bharat Petroleum Corporation Limited, of Govt of India share holding of 53.29% along with transfer of certain management control.This is excluding BPCL's equity share holding of 61% stake in Numaligarh Refinery.

She added: “Numaligarh Refinery will be with the government only. It shall not go in for disinvestment. BPCL minus Numaligarh Refinery will go for disinvestment.”

The Finance Minister added that the move would exclude BPCL’s 61% stake in the Numaligarh Refinery in Assam. That will be moved out of the BPCL before the disinvestment and retained

The Union Cabinet also approved the disinvestment of four more PSUs - Shipping Corporation, Container Corporation, Tehri Hydro Development Corporation and North Eastern Electric Power Corporation

Key highlights

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Airtel, Vodafone Idea, Reliance Jio to get Rs 42,000 cr relief from two year moratorium in spectrum payments: Sources

Cabinet approves cutting govt stake in select PSUs to below 51 pc while retaining management control: FM

Cabinet approves strategic disinvestment in BPCL along with transfer of management control, excluding stake in Numaligarh Refinery: FM

Numaligarh Refinery to be carved out of BPCL before privatisation and will be taken over by another public sector company: FM

Cabinet approves strategic disinvestment of Shipping Corp of India along with management control: FM

Cabinet approves strategic disinvestment along with management control in Concor, THDCIL: FM

NTPC to buy government's stake in power producer THDCIL: Finance Minister

NTPC to also buy govt stake in North Eastern Electric Power Corporation Ltd (NEEPCO): FM.

Cabinet approves import of 1.2 lakh tonnes of onion to ease domestic supplies and prices: FM.

FM says in view of financial stress faced by telecos, Cabinet approves deferring receipt of spectrum auction instalments for two years

Deferred Spectrum payment to be equally spread over the remaining installments without any increase in existing time period: FM.

Telecom companies will have to pay applicable interest on deferred spectrum payments: FM

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