India Business Journal - BPCL’s LPG business to be transferred in new unit

CORPORATE

BPCL’s LPG business to be transferred in new unit

IBJ Bureau
Dec 31, 2020

Privatisation-bound Bharat Petroleum Corporation’s (BPCL) new owner will get a right to decide on retaining the business of selling subsidised LPG after three years of takeover. In the intervening period, the LPG business will be transferred into a new unit to continue the flow of government’s subsidy. The government’s subsidy will continue to be given to BPCL’s customers, if the new owner chooses to retain the business after three years. BPCL’s LPG customers will be transferred to other State-owned companies – Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) – in case the new owner does not want to continue with such a business.