Bharat Petroleum to be sold by govt can create economic setback?

Bharat Petroleum to be sold by govt can create economic setback?

Why and which way Indian govt is moving towards concerns experts. Bharat Petroleum Corporation Limited (BPCL) has 53 % share of the govt. It can be estimated to a tune of 100 thousand crore rupees of net worth. However, the profitable Bharat Petroleum will be sold and will be benefiting the govt in a way needs to be discussed.

 

Bharat Petroleum is the most profitable company for the govt. It was earlier known as Burmah Shell. Now, the govt plans to sell the company based on building political image better to use the money. But, the govt is not thinking of the number of jobs that will be lost because of selling BPCL.

It was concerned because of the exorbitant income BPCL used to generate at a share of Rs 19 to make profits at 190 %. 7000 crore is the dividend of the company. Total assets of the Bharat Petroleum also include more than 15000 petrol pumps across the nation.

Values of Bharat Petroleum

Recently, the govt decided to sell Air India. The sale of Air India will be at a no profit but on huge loss. The govt can bear Air India’s loss but do they think twice before selling BPCL? The company also has LPG production of about 6000 LPG centers in India.

 

The market value of Bharat Petroleum is 2 to 2.5 lakh crore. The govt will see no protests in India as the media will show only the positive aspects of selling BPCL. Foreign companies are offered to buy BPCL and this can impact on Indian economy. Thus, joblessness will rise. And it can be good to sell the company or not is no doubt a misjudgment and too early to say about govt’s intention. However, the govt wants to look at the present scenario but not towards the future of the country.

Khalid M Raza

Latest News & Reviews

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Have Missed