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A Correspondent
Numaligarh: Numaligarh Refinery Limited (NRL) was set up at Numaligarh in Golaghat district in accordance with the provisions made in the historic Assam Accord signed on August 15, 1985, conceived as a vehicle for speedy industrial and economic development of the region. The 3 MMTPA Numaligarh Refinery Limited was dedicated to the nation by the erstwhile Prime Minister Atal Bihari Vajpayee on July 9, 1999. NRL has been able to display creditable performance since the commencement of commercial production in October 2000. With its concern, commitment and contribution to socio-economic development of the State and the Northeast region, combined with a track record of continuous growth, NRL has been conferred the status of Mini Ratna PSU. The shareholding pattern of NRL is: Bharat Petroleum Corporation Ltd (BPCL)- 61.65%, Government of Assam- 12.35% and Oil India Limited- 26%.
A recent media report about privatization of the BPCL has created serious doubts in the minds of all the stakeholders as well as the employees and workers of NRL. As the major share holder (61.65%) of the NRL, privatization of BPCL will also create uncertainty about the future of NRL. Under its disinvestment policy the central government is on its way to privatize/stake sell of government in BPCL along with other PSUs of Central government. The sentiment of Assamese people is also attached with NRL, as it was a result of the Assam accord that was signed after sacrifice of 855 martyrs in Assam agitation.
The Numaligarh Refinery Oil Tanker Association staged strong protest against government’s decision on the privatization of BPCL and NRL at the Marketing Terminal of NRL. Slogans like “Save BPCL, Save NRL”, “Modi Government Go Back”, “Respect the sacrifice of 855 martyrs” were uttered during the protest. President Bhaskarjyoti Gohain and spokesperson Priyangdeep Kakoti of the Numaligarh Refinery Oil Tanker Association stated that being a Central government PSU, BPCL is also regarded as the backbone of India’s economy. Privatization of the core sector may derail the country’s economy that may put oil security at a great risk. They also alleged that selling of these national assets is also regarded as a misanthropist act against the nation. A memorandum was also sent to the Prime Minister, taking into consideration the strategic importance of core sectors PSU like BPCL and NRL requesting to stop government’s plan regarding privatization/stake sell of government in BPCL in the larger interest of the country.
The Employees Union and the worker unions of the NRL also staged strong protest at the main entrance of the refinery. Hundreds of protesters staged protest by holding banners and placards in their hands raising slogans against the move to privatize NRL and BPCL. A protest meeting was also held and all the people gathered there were given stroke of the current plan of central government to privatize BPCL and NRL. President Ripun Saikia and secretary Binud Gogoi of the employee union of NRL also urged the workers and all the people to join hands and stand against the decision of the government.
It is pertinent to mention here that potential bidders have begun seeking clarifications on the implication of the sale of BPCL on the investment plans of its subsidiary, Numaligarh Refinery Ltd is currently on a massive expansion spree, worth Rs 22,000 crore, but its viability is based on a 50% excise duty relief and a Rs 1000 crore capital subsidy from the government. If BPCL is privatized, then the private owner may not want to go ahead with the expansion based on doles from the government. Unless Numaligarh is sold separately, Oil India Ltd, which together with the Assam government has a stake in Numaligarh, the future hangs in balance, it seems. While OIL may not have the appetite for NRL, Indian Oil Corporation, which has three refineries in the Northeast, may have the resources to take over NRL from BPCL. Currently, there is too much uncertainty over everything.