The Government of India has decided not to allow any of the public sector unit to bid for the investment in the Bharat Petroleum Corporation Limited (BPCL) which means that the proposed venture of Oil India Limited (OIL) and Assam Government has fallen flat.
This is noteworthy that Numaligarh Refinery Limited (NRL) and state government has launched a joint bid to buy all the remaining shares to keep the BPCL in the public sector.
It may be mentioned that the government has long decided to come out of the oil business and BPCL is the long sector lined up by the petroleum.
Different political and non-political organizations including the NRL workers have staged protest against its privatization. Earlier, it was said by the Assam Government that it wants to buy 12% more of NRL and jointly run the refinery in the Public Sector. This is noteworthy that Assam already has 12% and would like to raise it to 24% when the bid for NRL disinvestment opens.