Ruckus Over Centre's BPCL Divestment Plans

by GoNews Desk 1 week ago Views 970
Ruckus Over Centre's BPCL Divestment Plans
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The central government has decided to sell its stake in five public sector undertakings (PSUs), including government oil refinery Bharat Petroleum Corporation Limited (BPCL).

However, protests against this decision are taking place from Parliament to the streets. While BPCL employees demonstrated on the streets, CPI(M) MPs protested against this decision in Parliament.

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Last week, the central government had given in-principle approval for the sale of five PSUs. Among them were BPCL, Shipping Corporation of India, Container Corporation of India, Tehri Hydroelectric Development Corporation and North Eastern Electric Power Corporation Limited. 

This decision has been taken by a committee on economic affairs, presided over by Prime Minister Narendra Modi. However, protests against the decision are getting stronger.

BPCL employees have taken to the streets in protest. In solidarity with them, CPI(M) MPs protested by standing beneath the statue of Father of the Nation Mahatma Gandhi in Parliament premises. They also announced a nationwide strike by trade unions in January 2020.

In the Rajya Sabha, Aam Aadmi Party MP Sanjay Singh asked why the government is selling its stake in profitable PSUs.

Meanwhile, there is speculation that the process of sale of stake is not limited to five PSUs. The central government could sell 30 other companies by 2022.