Bharat Petroleum Workers Stage Protest Against Modi, #ChowkidarChorHai Trends on Twitter

New Delhi, October 8, 2019:

Bharat Petroleum workers have been protesting against Modi Government’s plan to fully privatize the company by selling a 53% stake to private parties.

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It has been reported that the buyers of the company are expected to be Reliance and some other foreign companies.

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The protestors have moved to the streets and taken out protest rallies in different parts of the country against the government’s move. They screamed out loud as “Chowkidar Chor Hai”.

The buyer will have to shell out at least Rs 60,000 crore to buy the government's 53 per cent stake, say, industry experts. The valuation of BPCL was about Rs 1.1 lakh crore last week.

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Bharat Petroleum is one of the few profitable public sector companies.

Privatization of BPCL will not just shake up the fuel retailing sector long dominated by state-owned firms but also help meet at least a third of the government's Rs 1.05 trillion disinvestment target.

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