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BPCL’s fourth bidding deadline extension risks sale this fiscal

New Delhi: In what comes in as a big blow to the privatisation process for oil behemoth BPCL, the government has yet again extended the deadline for submission of expression of interest by potential bidders. This is the fourth such extension given for submission of expression of interest given the prevailing Covid situation.

The new deadline of 16th November for submission of EoI further puts to risk the privatization process for BPCL this year. The move further puts to risk the ability of the central government to raise as much as 2.1 lk cr from disinvestment this year at a time when the revenues are weak.

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