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We may hit borrowing limit soon if petrol prices not raised: IOC

PUBLISHED ON: September 10, 2012 | Duration: 4 min, 44 sec

  
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With no decision yet on raising of fuel prices, the management of IOC warns that it could hit its borrowing limit of Rs 1.1 lakh crore soon. "The current level of borrowings for IOC stands at Rs 90,000 crore and the company warns that unless the government compensates it for under recoveries, further borrowings from the market could pose a challenge," said PK Goyal, Director Finance, IOC. He also said that it will review petrol prices next on the 15th of September and is yet to hear from the govt on any hike in diesel, LPG and Kerosene prices.
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