Press Enter

Share with your friends and help them crack UPSC!

Or Share on

Answer

Correct Option is Both

The Cabinet Committee on Economic Affairs (CCEA) has accorded 'In-principle' approval for strategic disinvestment in five public sector units (PSUs) as per the details below. Bharat Petroleum Corporation Ltd. (BPCL): Government will sell its entire 53.29% stake in BPCL. However, BPCL’s 61.65% share in Numaligarh Refinery Limited (NRL) will be retained and will be transferred to a public sector company operating in the oil and gas space. Shipping Corporation of India Ltd. (SCI): The government will sell its entire 63.75% stake in the SCI and will cede management control. Container Corporation of India Ltd. (CONCOR): Government will sell its 30.8% stake in the CONCOR and hand over management control. Tehri Hydro Development Corporation India Limited (THDCIL): The government will sell its entire 74.23% stake in THDCIL to NTPC Ltd. and also cede control. North Eastern Electric Power Corporation Limited (NEEPCO): The government will sell its entire 100% stake in the NEEPCO to NTPC Ltd. and also cede control. The government proposes to raise Rs 1.05 lakh crore from disinvestment in the current financial year. In the current fiscal year, by the end of September, the government had only raised Rs 12,359 crore through disinvestment. It had exceeded asset-sale targets of Rs 1 lakh crore in FY18 and Rs 80,000 crore in FY19. At current market value, the government can raise about Rs 63,000 crore from selling its entire 53.3% stake in BPCL. Big international oil companies including Saudi Aramco are said to be keen on investing in BPCL, given the refiner’s strong presence in fuel retailing among other things. Hence, option (b) is the correct answer.

Get access to all of our verified questions