Nation Set To Face 4.5 Lakh Cr 'Notional Loss' As Government Disinvests BPCL: PSOA - Viral Bake
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As the central government gets ready to sell its stake in the state-owned Bharat Petroleum Corporation Limited aka BPCL the nation is ready to face a ‘notional loss’ of 4.5 lakh crores said the Public Sector Officers Association (PSOA).

The government which is planning to sell its 53.29% stakes in the BPCL aims to fetch ₹74,000 crore, including a control premium of 30%. According to the PSOA BPCL’s assets are valued at more than ₹9 lakh crore according to the replacement value method.

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PSOA has also received the support of the Federation of Oil PSU Officers (FOPO) and Confederation of Maharashtra Company Officers Association (COMCO) in regards to there estimation of the loss from BPCL’s disinvestment.

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In an official statement Mukul Kumar convenor, FOPO and COMCO said, “Against the current preliminary indicative market price of the total assets of BPCL of ₹9 lakh crore (in-house estimates), there would be a minimum notional loss of ₹4.46 lakh crore to the country. Besides, the disinvestment is not going to benefit the company or the country in any manner”.

As per PSOA government’s 53.29% stake is worth about ₹5.2 lakh crore. BPCL’s assets are worth a total of ₹7,50,730 crore as per the calculations presented by PSOA. This amount goes up to ₹9,75,980 crore if control premium of 30% — or ₹2,25,218 crore — is added.

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BPCL which has a 24% market share among oil PSUs is profit-making PSU and has reported a net profit of ₹7,132 crore on a turnover of over ₹3.37 lakh crore in FY19.

Credits: The Hindu


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