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Bharat Petroleum Corporation (BPCL) has offered a voluntary retirement scheme (VRS) to its employees above 45 years of age as the government steps up effort to privatise the state-run oil and gas company.
According to company insiders, almost 60 per cent of the total 11,894 employees could be eligible to avail of the scheme. A large number of employees are expected to opt for the scheme — Bharat Petroleum Voluntary Retirement Scheme-2020 (BPVRS-2020) — as they fear uncertainty about their future because of the disinvestment move, said a person close to the development.
A company spokesperson refused to comment on the development.
