Govt Approves Biggest Privatisation Drive, Will Sell Stake in BPCL and Four Other PSUs

In the biggest privatisation drive, the Union Cabinet on Wednesday approved sale of the government's stake in blue-chip oil firm Bharat Petroleum Corporation Limited (BPCL), Shipping Corporation of India (SCI) and onland cargo mover Container Corporation of India (Concor), as well as decided to cut shareholding in select public sector firms below 51% to boost revenue collections that have been hit by slowing economy.

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