In March last, BPCL had sold its entire 61.5% stake in NRL to a consortium of OIL and Engineers India and the Assam government for Rs 9,876 crore. OIL bought a 54.16% stake to raise its shareholding in the refinery to 80.16%.

GUWAHATI: The second NDA government headed by chief minister Himanta Biswa Sarma, in its first cabinet on Tuesday, approved the state’s biggest ever investment worth over Rs 2,000 crore to raise its stake in the Numaligarh Refinery Limited (NRL). The state expects dividends worth Rs 900 crore annually from this move.
The cabinet also set up a committee headed by finance minister Ajanta Neog to appoint one lakh youth in government jobs to keep BJP’s poll promise. Another committee headed by urban development minister Ashok Singhal will prepare the roadmap for waiving off loans taken by people from micro-finance companies. This was also a key promise wgich BJP had made in the election campaign.
While Neog will submit her report within one month, Singhal will have to file his report at the earliest. The cabinet also decided that it will meet every Wednesday, said information and public relations minister Piyush Hazarika, while briefing the media along with health minister Keshab Mahanta, industry minister Chandramohan Patowary and CM’s political secretary Jayanta Malla Baruah. Patowary, while giving details of the investment in NRL, said, “NRL is a result of Assam Accord and after Bharat Petroleum Corporation Ltd (BPCL) disinvested, people started raising questions over the fate of the refinery and there were fears that the central PSU would be handed over to private companies.”
Patowary said, “People of Assam have sentiments attached with NRL and so the state government has decided to raise its stake from existing 12.35% to 26%.”
In March last, BPCL had sold its entire 61.5% stake in NRL to a consortium of OIL and Engineers India and the Assam government for Rs 9,876 crore. OIL bought a 54.16% stake to raise its shareholding in the refinery to 80.16%.
“Assam government’s share in NRL will now be worth Rs 2,187 crore. OIL had brought the state government’s shares and we have already paid Rs 500 crore. The cabinet today directed the finance department to sanction the remaining Rs 1,687 crore,” Patowary said.
He added that the Assam government has till now received dividends worth more than Rs 1200 crore from NRL and after raising its stake, the state will get Rs 900 crore as dividend every year. “ This amount will augment the state’s revenue,” Patowary said.