Saturday, October 16, 2021
HomeNewsBPCL Privatization: The 'LPG Subsidy' may end once BPCL is privatised, and...

BPCL Privatization: The ‘LPG Subsidy’ may end once BPCL is privatised, and a government order becomes a breaker

The plan providing exemption to continue the selling of subsidised LPG (Lpg Subsidy News) may come to an end once Bharat Petroleum Corporation Limited (BPCL) is privatised.

BPCL Privatization: In about 20 years, the government will issue an order limiting the supply of LPG generated in the country to exclusively government-owned oil businesses. This order has turned into a deal-breaker ahead of Bharat Petroleum Corporation Limited’s (BPCL) privatisation proposal to keep subsidised LPG sales going (Lpg Subsidy News). The question now is whether BPCL will continue to provide subsidised gas if it is privatised.

The government sought legal advice.

According to government officials acquainted with the situation, legal advice is now being sought to determine if the allocation of LPG generated by corporations such as ONGC and GAIL to BPCL following privatisation is correct. Let us remind you that BPCL now has over 8.4 crores of residential LPG users. There are 21 million Ujjwala consumers among them. The company’s own oil-refining units’ LPG production is insufficient for this.

Read More: Indian Railways, IRCTC: Big news for railway passengers! Now these 44 trains will be able to travel without reservation, see list

Control Order for LPG

BPCL, like other oil marketing companies, buys LPG from state-owned firms such as ONGC and GAIL (India) Limited, as well as private enterprises such as Reliance Industries Limited. Only government-owned oil marketing businesses are subject to the LPG (Regulation of Supply and Distribution) Order, 2020, also known as the LPG Control Order, 2000 – Provisions for sale of indigenously produced LPG to BPCL by Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL).

ONGC and GAIL’s BPCL have been banned.

The rule prohibits private enterprises from purchasing LPG generated by ONGC and GAIL. LPG suppliers in the private sector must rely on imported gas. The Control Order, 2000 was enacted in response to the country’s LPG shortage. This ruling will prevent ONGC and GAIL from selling LPG to BPCL once the company is privatised, according to officials. As a result, the administration is seeking legal advice on the matter.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

There’s good news! Learn how you can get an LPG cylinder delivered to your home for just Rs 634

You may now get an LPG gas cylinder delivered to your home for just Rs634. Yes, not only will this cylinder be lighter than...

Book gas cylinders for cooking and get gold in exchange over the Festive Season

The Paytm Navratri Gold Offer began on October 7th and will be accessible through October 16th. Buyers can book cylinders online and win gold...

Inflationary shock! The price of an LPG cylinder has increased by Rs 43.5; check your city’s tariff

LPG Price Increase: Petroleum firms increased the price of gas and the price of a cylinder by Rs 43.5 on the first day of October....

Who will get the LPG Cylinder Subsidy now? Government clarifies

If you have any questions regarding the subsidy on the LPG cylinder, then it can be solved very easily. In response to a consumer's...

Inflationary shock! The price of an LPG cylinder has increased by Rs 25, so check your city’s tariff

The ordinary man has suffered yet another setback. LPG rates have been raised yet again by petroleum companies. The non-subsidized cylinder's price has gone...

Subscribe

* indicates required