TheGovernment of India has decided not to allow any of the public sector unit tobid for the investment in the Bharat Petroleum Corporation Limited (BPCL) whichmeans that the proposed venture of Oil India Limited (OIL) and Assam Governmenthas fallen flat.
This isnoteworthy that Numaligarh Refinery Limited (NRL) and state government haslaunched a joint bid to buy all the remaining shares to keep the BPCL in the publicsector.
It may bementioned that the government has long decided to come out of the oil businessand BPCL is the long sector lined up by the petroleum.
Different politicaland non-political organizations including the NRL workers have staged protestagainst its privatization. Earlier, itwas said by the Assam Government that it wants to buy 12% more of NRL andjointly run the refinery in the Public Sector.This is noteworthythat Assam already has 12% and would like to raise it to 24% when the bid forNRL disinvestment opens.