NewsClick

NewsClick
  • हिन्दी
  • Politics
  • Economy
  • Covid-19
  • Science
  • Culture
  • India
  • International
  • Sports
  • Articles
  • Videos
search
menu

INTERACTIVE ELECTION MAPS

image/svg+xml
  • All Articles
  • Newsclick Articles
  • All Videos
  • Newsclick Videos
  • हिन्दी
  • Politics
  • Economy
  • Science
  • Culture
  • India
  • Sports
  • International
  • Africa
  • Latin America
  • Palestine
  • Nepal
  • Pakistan
  • Sri Lanka
  • US
  • West Asia
About us
Subscribe
Follow us Facebook - Newsclick Twitter - Newsclick RSS - Newsclick
close menu
×
For latest updates on nCOVID-19 around the world visit our INTERACTIVE COVID MAP
Politics
India
Economy

Despite BPCL’s Crucial Contribution Amid Pandemic, Modi Govt. To Go Ahead with Divestment Plan

Observers say that this is the right time to realise the importance of BPCL and other PSUs. 
21 Apr 2020
Despite BPCL’s Crucial Contribution Amid Pandemic, Modi Govt. To Go Ahead with Divestment Plan

File Photo

Amid COVID-19 pandemic and ensuing lockdown, the Bharat Petroleum Corporation Limited (BPCL) is playing a crucial role in ensuring the crucial supplies of Liqueified Petroleum Gas (LPG) and other fuel products across India. While the central government has already put its 52.98% equity stake in BPCL for sale, observers argue that the government must open its eyes in realising the BPCL’s role in the crisis and retain the profit-making oil marketing company within the public sector. 

According to BPCL officials, the entity has been at the forefront in addressing the fuel challenges including free supply of LPG cylinders under Pradhan Mantri Ujjwala Yojana during the country-wide lockdown. 

“We have a large workforce consisting of our employees and those who are employed with more than 16,000 fuel stations and 6,000 Bharatgas distributors, tank trucks crew, who are out in the field playing a pivotal role in provision of vital products and services that fuel the nation. LPG has seen spurt in the demand, however, we are extremely proud of the fact that they have risen to the occasion and are doing phenomenal work ensuring home delivery of LPG cylinders to consumers, across the nation, despite the huge challenges,” said a press statement issued by BPCL on 10 April.

However, the central government is going ahead with its divestment plans. On March 31, the government extended the deadline for bidding to buy BPCL stake to June 13 from the previous deadline of May 2, amid lockdown. 

Since the government first announced its plans to hand over BPCL to the private sector last year, it has attracted massive opposition from numerous quarters against the move. Although the central government under Narendra Modi had earlier aimed at completing the BPCL divestment by March 31 this year, it’s ‘haste’ for privatisation was opposed by trade unions and opposition political parties. 

“The BPCL has been delivering LPG and other fuel services at a war-footing pace across the country ensuring the government’s measures despite massive demand due to lockdown. This would have not been the case if the entity is run by private players,” said K N Gopinath, joint convenor, Kerala Central PSUs, Centre of Indian Trade Unions. 

On the other side, reports suggest that the divestment may happen only after October this year, owing to lockdown and decline in BPCL. 

“This is the right time to come down on its plans to privatise BPCL and other maharatna entities in the country,” argued Gopinath. He told NewsClick that thousands of BPCL employees joined by trade unions including CITU, Indian National Trade Union Congress and officers’ association have protested against the strategic divestment for continuously three months before the lockdown. 

BPCL has four refineries located in Assam, Kerala, Madhya Pradesh and Maharashtra with a combined capacity to convert 38.3 million tonnes of crude oil into fuel.

“Besides serving the country’s fuel needs, BPCL is one of the few entities that could yield better financial results even during these pandemic times,” said Kamble Snehal, founder of India Against Privatisation campaign in Mumbai. She told NewsClick that the Modi government has provided no rationale behind selling stake of BPCL at as low as 5% to 10% of its real value. “It is crucial for the government to realise the importance of PSUs which are the backbone of Indian economy,” she added. 

Get the latest reports & analysis with people's perspective on Protests, movements & deep analytical videos, discussions of the current affairs in your Telegram app. Subscribe to NewsClick's Telegram channel & get Real-Time updates on stories, as they get published on our website.
Divestment
LPG
Fuel Supply
Lockdown
CITU
PMUJ
Privatisation
PSUs
Bharat Petroleum
BPCL
Related Stories
As India jostles with second COVID-19 wave, it must introduce minimum basic income programme

As India Jostles With Second COVID-19 Wave, It Must Introduce Minimum Basic Income Programme

KTK Transport Strike

Karnataka: ‘Thaalis Banged’ on Sixth Day of KSRTC Workers Strike

CEL Employees Continue Fight Against Privatisation, Dharna Crosses 27 Days

CEL Employees Continue Fight Against Privatisation, Dharna Crosses 27 Days

Women and the working class movement

Women And the Working Class Movement

PDS NFSA.

Instead of Strengthening Infra for Food Security, Govt. Moves in Opposite Direction

Litchi farmers

COVID-19: A Year on, Litchi Farmers from Bihar Fearful of a Repeat

Covid 19 second wave.

India’s Second COVID Wave – Can the Govt Handle it?

Kashmir 4g

Amid Spike in Covid Cases, J&K Schools Closed Even as Govt Events Continue, Tourism Picks up

Protest Spread against Forcible Closure of Schools, Coaching Centres in Bihar

Protest Spread against Forcible Closure of Schools, Coaching Centres in Bihar

Impact of lockdown on migrant workers in Maharashtra

Survey Sheds Light on Impact of Lockdown on Migrant Workers in Maharashtra

Share on FacebookShare on TwitterShare on WhatsAppShare via EmailShare on RedditShare on KindlePrint
Share
Share on FacebookShare on TwitterShare on WhatsAppShare via EmailShare on RedditShare on KindlePrint
Share

Related Stories

Rashme Sehgal

‘There is No Alternative to Decentralised Covid Response’—Dr. K Srinath Reddy

20 April 2021
Prof.
Rashme Sehgal

If Restaurants Close for Covid, Political Rallies Should Too: Dr. Shahid Jameel

15 April 2021
Leading virologist Dr.
PTI

Lockdowns to Shave $1.25 Billion a Week Off India’s Economy: Report

13 April 2021
Mumbai: Amid surging pandemic cases forcing many states to curb mobility and businesses, a report has said these localised lockdowns in key economi

Pagination

  • Next page ››

More

  • COVID-19: Record 2,023 Fatalities in India, 2,95,041 Cases in Single Day

    COVID-19: Record 2,023 Fatalities in India, 2,95,041 Cases in Single Day

  • UP State Employees Want Postponement of Remaining 2 Phases of Panchayat Elections

    UP State Employees Want Postponement of Remaining 2 Phases of Panchayat Elections

  • Oxygen

    Economic Interests Can’t Override Human Lives, Cut Down Industrial use of Oxygen Now: HC

  • Administrative Failure at Mizoram’s Dampa Tiger Reserve

    Administrative Failure at Mizoram’s Dampa Tiger Reserve

  • Load More
Subscribe
connect with
about