BPCL creates separate platform for LPG subsidy: Report
- ByAyushi Ray | September 7, 2021
BPCL creates separate platform for LPG subsidy. “It’s been made clear that whoever will acquire BPCL will have to run the government’s LPG scheme, wherein the government will bear the subsidy burden. They will have to ring fence that business. Within the organization, they will have to keep it separate and a platform and mechanism has been developed for it by BPCL. It will run on it,” said a government official. The government is selling its entire 52.98 percent stake in BPCL for which three expressions of interest (EoIs) including one from billionaire Anil Agarwal-led Vedanta Group have been received. Financial bids are yet to be called.
The acquired government’s stake in BPCL will run a direct benefit scheme namely Pratyaksha Hastaantarit Laabh (PAHAL) and provide government’s subsidy in beneficiaries’ bank accounts. For this purpose, a separate platform has been developed by the company. The government has disbursed over Rs 7.03 trillion as fuel subsidy since 2011-12. However, the allocation for LPG and natural gas subsidy has been cut down to Rs 12,995 crore for FY22, the report added.
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