The Government is lining up to sale the stacks of 5 public sector undertakings, let’s unfold some facts about these PSUs

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Finance Minister Nirmala Sitharaman announced that the government is looking to sell stake in five public sector undertakings (PSUs). The Cabinet approved the disinvestment of PSUs including BPCL, Shipping Corporation of India, Container Corporation, Tehri Hydro Development Corporation and North Eastern Electric Power Corporation.

In this series of articles, we will highlight some unknown facts about these PSUs. To begin with BPCL,

  1. The company is India’s 2nd largest downstream oil company and is ranked 275th on the Fortune list of the world’s biggest corporations as of 2019. BPCL ranked 672 in the Forbes 2018 list.

  2. Bharat Petroleum owns Mumbai Refinery and Kochi Refineries with a capacity of 12 and 9.5 Million metric Tonnes per year.
  1. BPCL also manufacture domestic gas cylinder. Which launched the Direct Benefit Transfer of LPG (DBTL) scheme in 18 high Aadhar coverage districts from 1st June 2013. The scheme aims to provide subsidy to consumers in their bank accounts.

  2. BPCL has completed more than 75 years of Aviation Service. BPCL-Aviation Service is present at all the major gateways and other airports in the country rendering into-plane services to leading domestic and international airlines and operating the Aviation Fuelling Stations.
  3. In 1955, the Company has a well-established refinery at Mahul, Chembur (Mumbai).