The Assam BJP on Tuesday welcomed the statement of Union minister for petroleum and natural gas Dharmendra Pradhan that the ministry has not yet finalised disinvestment of the Bharat Petroleum Corporation Limited (BPCL) and the Numaligarh Refinery Limited (NRL).
BJP spokesperson Rupam Goswami said because of the efforts by Assam chief minister Sarbananda Sonowal, cabinet minister Himanta Biswa Sarma and Assam BJP president Ranjeet Kumar Dass, the Centre has not yet finalised the disinvestment.
Pradhan made the statement in the Lok Sabha on Monday while replying to a question by seven MPs, including Gaurav Gogoi, Pradyut Bordoloi and Naba Kumar Sarania from Assam.
Pradhan’s statement came amidst protest from political parties, NGOs and individuals against the Centre’s move to disinvest BPCL that holds majority share of NRL, an outcome of the Assam Accord.
Even on Tuesday, Congress parliamentarian from Assam staged a dharna on the premises of Parliament as a protest against the move to disinvest BPCL. They shouted “Save Assam Save India” slogan. While BPCL holds 61.35 per cent share of the NRL, the Oil India Limited (OIL) holds 26 per cent share and the remaining 12.35 per cent by the Assam government.
In Assam, organisations are opposing the disinvestment as NRL is a profit making PSU. Its profit after tax was Rs 2,100 crore in 2016-17, Rs 2,044 crore in 2017-18 and Rs 1,968 crore in 2018-19.
Being a public sector undertaking, NRL has also been undertaking various development activities under its corporate social responsibility in the state. Under CRS scheme the NRL spent Rs 20.69 crore in 2016-17, Rs 46.25 crore in 2017-18 and Rs 54.85 crore.
Similarly, NRL’s dividend to the Assam government was Rs 165 crore in 2017-18, which will be around Rs 150 crore for 2018-19.
Union finance minister Nirmala Sitharaman had earlier indicated that the disinvestment of BPCL will be completed within this fiscal session.
Although many in Assam are suggesting that OIL should buy more share of BPCL, there are reports that OIL does not have financial capacity for large stake buy. If OIL’s stake in BPCL crosses 50 per cent, the NRL will continue to be a public sector entity.
