Maha minister Raut condemns Centre's BPCL stake sale move

Mumbai, Mar 8 () Maharashtra Energy Minister NitinRaut on Sunday condemned the Centre's move to sell its entire52.98 per cent stake in Bharat Petroleum Corporation Limited(BPCL), and asked that the decision be scrapped.

The Narendra Modi government on Saturday invitedexpressions of interest for the strategic sale of BPCL by May2, the Centre's Department of Investment and Public AssetManagement (DIPAM) said in the bid document.

"We condemn the Centre's decision, which willvirtually end reservations for backward communities. It willdestroy job opportunities. The decision should be withdrawn,"Raut said in a statement.

Raut said the Modi government was ending reservationsby privatising public sector undertakings (PSUs) which havequotas in jobs.

Raut said BPCL earned 40 per cent profit in the lastquarter and was a goldmine for the government.

"As the Modi government has emptied state coffers byoffering largesse and waiving bank loans of Rs 7 lakh crore ofrich businessmen, it is now selling BPCL to raise funds forexpenditure," Raut alleged. ENMBNM BNM