• Government likely to extend deadline for BPCL bidding for third time

    The government is likely to extend the deadline for bidding for the privatisation of Bharat Petroleum Corporation (BPCL) for the third time in a row, from the current date of July 31.

    According to sources, the extension of the timelines for expression of interest (EoI) may well be until international airline services are back in place, as a lot of prospective bidders have expressed concerns regarding the current situation.

    An empowered group of secretaries, headed by Cabinet Secretary Rajiv Gauba, is set to take up the issue in a meeting on Thursday. The other members of the committee include Niti Aayog chief executive officer Amitabh Kant and Tuhin Kumar Pandey, secretary of the Department of Investment and Public Asset Management (DIPAM).

    The meeting will discuss the formalities and timelines of disinvestment. “It is expected that the timelines may be further extended from the current deadline of July 31. Hence, it may even be more than a month,” said a source aware of the development.

    The committee will also take into account a lot of concerns raised by prospective bidders on the back of Covid-19 pandemic, including a timeline extension.

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