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Bharat Petroleum (BPCL) is all set to get Maharatna Status

State-run Bharat Petroleum Corporation (BPCL) is all good to become a Maharatna company. The oil marketing company is currently a Navratna company. The choice to hoist BPCL to Maharatna status was taken by a board headed by the Cabinet secretary and a declaration to this impact is likely soon, as indicated by official sources. Maharatna and Navaratna state-possessed units work in vital fields, for example, coal, oil, steel, heavy engineering goods, power supply, transmissions, telecommunications and transportation services.

Under government controls, a firm is qualified for Maharatna status on the off chance that it is as of now a recorded Navratna firm, has a normal turnover, total assets and yearly net benefit after expense of at any rate Rs 25,000 crore, Rs 15,000 crore and Rs 5,000 crore, separately, over the most recent three years. Additionally, the organization ought to have critical worldwide operations.

In any case, the exploration arm of BPCL, Bharat Petro Resources, has been making misfortunes — Rs 54.5 crore in FY16, Rs 34 crore in FY15 and Rs 116 crore in FY14. At display, there are seven Maharatna organizations — Bharat Heavy Electricals, Coal India, GAIL (India), Indian Oil Corporation, NTPC, Oil and Natural Gas Corporation and Steel Authority of India. Subsequent to turning into a Maharatna firm, the leading body of BPCL will get upgraded powers which will help in extension of operations, both in India and abroad.

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