60% of Bharat Petroleum staff eligible for voluntary retirement scheme

Firm offers VRS ahead of privatisation

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