Govt to provide rules on employee protection, asset stripping in BPCL at later stage of bidding
7th Sep 2020

The government is going to provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corporation (BPCL) to potential acquirers of the company only at a later stage of bidding, according to privatisation rules issued by the disinvestment department. The government is selling its entire 52.98 per cent stake in India's second-largest fuel retailer and third-biggest oil refiner.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.