Profit

Govt to compensate oil cos for fuel subsidy burden

PUBLISHED ON: December 30, 2010 | Duration: 2 min, 34 sec

  
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The Oil Ministry has said the government is committed to compensating state- owned firms for the revenue lost on selling fuel below cost. Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp currently lose over Rs 225 crore per day on selling diesel, domestic LPG and kerosene below their imported cost.
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