2024-09-04 17:29:27
New Delhi: The central government had prepared to sell Bharat Petroleum Corporation Limited (BPCL) in the financial year 2022. But now it has abandoned this plan. BPCL is the second largest oil marketing company in the country after Indian Oil. The company has refineries in Mumbai, Kochi and Madhya Pradesh. In terms of refining capacity, it is the third largest company in the country after Reliance and Indian Oil. This company has given about Rs 2,413 crore to the government as dividend installment. So far in the current financial year 2024-25, government companies have given Rs 15,389.14 crore to the government as dividend. The Department of Investment and Public Asset Management (DIPAM) said on Monday that the government has received a dividend of about Rs 2,413 crore from public sector petroleum company BPCL. DIPAM Secretary Tuhin Kant Pandey wrote on the social media platform ‘X’ that the government has received about Rs 2,413 crore from BPCL as dividend installment. So far in the current financial year 2024-25, Rs 15,389.14 crore has been received as dividend from Central Public Sector Undertakings. This includes Rs 5,091 crore from IOC, Rs 40 crore from Electronics Corporation of India, Rs 554 crore from Power Finance Corporation and Rs 3,443 crore as special dividend from Telecom Consultants India Ltd. (TCIL).
Government got ‘green signal’ to sell this bank, LIC has the biggest stake
What is the dividend target
The government has set a target of getting Rs 56,260 crore as dividend from public sector enterprises in the current financial year in the budget. This is more than the Rs 50,000 crore set for the financial year 2023-24. The country’s largest insurance company Life Insurance Corporation of India (LIC) last week paid a dividend of Rs 3,662.17 crore for the financial year 2023-24. This amount is in addition to the interim dividend of Rs 2,441.45 crore received from LIC in March 2024. Shares of HPCL and BPCL hit a 52-week top on Monday due to a fall in oil prices.