Guwahati: The Centre’s decision to upgrade Numaligarh Refinery Limited (NRL) to ‘Schedule A’ Central Public Sector Enterprises (CPSE) has been lauded by Assam Chief Minister Himanta Biswa Sarma.
The Ministry of Petroleum and Natural Gas notified the upgradation on July 4. This recognition is a result of NRL’s strong financial performance, operational efficiency and its significant contribution to the economic development of the North East.
Sarma took to Twitter to express his appreciation, stating that this recognition is an endorsement of the Assam government’s decision to enhance its shareholding in NRL. He also highlighted NRL’s world-class infrastructure, stating that it is fast emerging as a major refining destination.
NRL is among India’s top 20 CPSEs in terms of sales revenue and profitability. It has also started exporting petroleum products to neighbouring countries, thereby establishing its global profile and supporting the Government of India's Act East Policy.
The upgrade to Schedule A status now qualifies NRL for Navratna status, which provides greater financial autonomy. This will enable NRL to undertake larger and more complex projects and make swift decisions regarding joint ventures, strategic alliances, and special purpose entities for strategic expansion.
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