Due to poor market environment, the government can curb the speed of disinvestment and it will move forward if the environment improves. During this time the government will continue the basic process. Currently, 8 weeks is the time for BPCL Disinvestment.
If the situation does not improve, further delays in the government’s Disinvestment Plan are possible. According to sources, the government will now wait for the market mood to improve.
Explain that EOI has been issued for Disinvestment of BPCL. The EOI of SCI and Concor is yet to come. OFS of SAIL, COAL INDIA, IRCON, NMDC are still pending. However the basic process of disinvestment will continue. The disinvestment process will be expedited as soon as the market conditions improve.
Significantly, the bidding process for disinvestment in public sector petroleum company BPCL has started. Government has issued EOI for BPCL. EOIs may be submitted by 2 May. A company participating in BPCL bidding will have a networth of at least $ 10 billion. Apart from one company, the consortium can also be a part of the bidding process. For this, the member of the consortium should have a minimum net worth of 1 billion and the lead member’s stake in the consortium should be at least 40%. Foreign companies will also be able to participate in EoI i.e. Expression of Interest.
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