New Delhi: The Central Government is trying all the options these days to raise funds. The government needs huge cash so that it can put money in the market. The government wants to buy a significant stake in the public sector company Bharat Petroleum Corporation Limited (BPCL), a global petroleum company. This will not only clear the way for big foreign companies to enter the petroleum sector of the country but also increase competition in the domestic market, which will ultimately benefit the customers.
The central government is going to do a roadshow for the equity sale of BPCL in the world's major petroleum hub for this purpose. In particular, officials of the Ministry of Petroleum and Ministry of Finance will participate in roadshows in places like Houston, Dubai, Tokyo. Special efforts will be made to attract companies like British Petroleum, Exxon, Shell, Kuwait Petroleum. According to sources, in recent times, the petroleum sector of India has received special interest in the petroleum sector of India.
Saudi Arabia's Aramco is investing $ 44 billion in a new refinery on the west coast of India. It has also bought a 20 per cent stake (for $ 15 billion) in Reliance Group's Jamnagar refinery. Apart from this, in a meeting with PM Narendra Modi in Houston last week, the CEOs of the major petroleum companies were also present. Many of them had personally expressed their desire to meet PM Modi and invest in India.