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The government has notified Parliament that it has received many Expressions of Interest (EoIs) for the privatisation of Bharat Petroleum Corporation Limited (BPCL), and that the process is now in its second stage.

"The transaction advisor designated for the privatisation of BPCL had indicated that many EoIs had been submitted," minister of state for finance Bhagwat Karad said in a written response to a query in the Rajya Sabha about Bharat Petroleum's privatisation.

The minister went on to say that the transaction advisor is bound by a non-disclosure agreement not to share bidder information during the course of the process in order to ensure competitive, non-collusive bidding.

In response to a query on whether the government has a plan in place to protect the job security of current BPCL employees, the minister stated that the terms and circumstances of the strategic disinvestment in the share purchase agreement adequately meet the concerns of employees.