OIL & GAS

BPCL sale: Govt stares at huge setback on sell-off front

With the near impossibility of the government completing privatisation of Air India, Bharat Petroleum Corp (BPCL) and Container Corporation of India (Concor) by the end of FY20, it is staring at Rs 60,000 crore budget gap despite planning to line up ‘offers for sale’ (OFS) to garner at least Rs 40,000 crore divestment proceeds.

While there may not be lack of interest for BPCL or Concor; disinvestment of Air India, due to Rs 60,000 crore debt, doesn’t look so promising even the next year. Earlier in the day, a DIPAM official said in Mumbai the stake sale of Air India, BPCL and Concor might be difficult in FY20.

The Shipping Corporation stake sale may go through, but it is likely to fetch just Rs 1,800-2,000 crore. Read More

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