Kerala CM urges PM Modi to stop BPCL privatisation plans in 'national interest'

Thiruvananthapuram (Kerala) [India], Oct 19 (ANI): Kerala Chief Minister Pinarayi Vijayan on Saturday wrote a letter to Prime Minister Narendra Modi, requesting him to "issue appropriate directions" to stop the proposed privatization of Bharat Petroleum Corporation Limited (BPCL).
"I request you to kindly issue appropriate directions to give up the move to disinvest BPCL and retain it under the present ownership pattern, in the interest of all the stakeholders and above all, in the national interest," Vijayan wrote in the letter.
The Chief Minister said the government and the civil society in Kerala have "genuine concern that the disinvestment of BPCL will not be in the interest of more than thirteen thousand persons directly employed and other sectors on contract employment".
"The company has been making a profit all along and has made more than Rs 50,000 crores of investment for the last five years. BPCL has also been undertaking CSR activities in line with its commitment to Kerala. For these reasons, I am of the opinion that BPCL should continue to be in public ownership in the national interest," Vijayan said.
The state government was the promoter of the erstwhile Kochi refinery with five per cent stake and the state government had extended financial and non-financial incentives to BPCL when the refinery capacity was augmented, the Chief Minister wrote.
The state government, the letter said, has equity participation in the public sector company. (ANI)