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Bpcl's strategic sale does not need a parliamentary approval

Privatization of BPCL won't simply shake up the fuel retailing<br>part since a long time ago commanded by state-claimed firms<br>yet in addition help meet at any rate 33% of the<br>administration's Rs 1.05 trillion disinvestment target

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Bpcl's strategic sale does not need a parliamentary approval

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  1. BUSINESS STANDARD BPCL's: strategic sale does not need a Parliamentary approval Privatization of BPCL won't simply shake up the fuel retailing part since a long time ago commanded by state-claimed firms yet in addition help meet at any rate 33% of the administration's Rs 1.05 trillion disinvestment target

  2. COMPANIES NEWS: had dissolved "187 out of date and repetitive laws lying pointlessly on the Statue-Book" including the Act of 1976 that had nationalized past Burmah Shell. The Repealing and Amending Act of 2016 "The Act has been canceled and there is no requirement for a Parliament endorsement for vital clearance of BPCL," a senior authority said. Quick to get multi-nationals in local fuel retailing to help rivalry, the administration is reflecting on selling a large portion of its 53.3 percent stake in BPCL to a key accomplice. Be that as it may, the Supreme Court ordered condition is never again appropriate, they said referring to May 9, 2016, Gazette notice following President's consent to The Repealing and Amending Act, 2016. Other than others it recorded revoking in "the entire" The Esso (Acquisition of Undertakings in India) Act, 1974, The Burmah Shell (Acquisition of Undertakings Act, 1976 and The Caltex [Acquisition of Shares of Caltex Oil The whole] Refining (India) Ltd and of the Undertakings in India of Caltex (India) Ltd] Act, 1977. India has an all-out refining limit of 249.4 million tons and 65,554 oil siphons and 24,026 LPG merchants. Read More:BPCL's

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