The government has accorded ‘Maharatna’ status to Hindustan Petroleum Corporation (HPCL), thus giving it greater operational and financial autonomy. The grant of Maharatna status to the PSU will impart enhanced powers to its Boards to take financial decisions.
The order to this effect was issued by the Department of Public Enterprises, under the Ministry of Heavy Industry and Public Enterprises.
HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.