Under this arrangement, the government would retain a minority stake while selling a majority shareholding to core investors. The government should take a minority stake in the refinery and sell the majority stake. “But sell at least 51% of this refinery, you sell it to refiners. So we are not against the government selling a majority stake in the refinery. The government should divest its interest in the refineries and allow a minimum of 51 per cent of its shareholding.

Source: Punch February 23, 2026 23:49 UTC