Govt to decide on subsidised cooking gas by BPCL before financial bid stage
NEW DELHI: The issue of continuation of cooking gas subsidy will be considered before inviting financial bids for BPCL privatisation, Parliament was informed on Saturday.
However, the interest of LPG customers of BPCL would be taken into consideration while deciding on the subsidy issue, Minister of State for Finance Anurag Singh Thakur said in a written reply to the Lok Sabha.
The government is selling its entire 52.98 per cent stake in India's second largest fuel retailer and third biggest oil refiner. Preliminary expressions of interest or EoIs are due on September 30, which will be followed by qualified bidders being asked to submit financial or price bids.
Thakur said the BPCL transaction is expected to be complete in the current financial year.
To a query on whether the cooking gas subsidy will continue after the privatisation of BPCL, he said "The issue of continuation of cooking gas subsidy will be considered before inviting financial bids, taking into consideration the interests of LPG gas customers of BPCL".
The Economic Times 19-09-2020