New Delhi October 31:
In a boost to state-run oil marketing companies, the government has agreed to give an additional Rs 3,000 crore to them to make up for part of revenue they lost on sale of fuel below cost.
"I am told that Ministry of Finance has released an additional Rs 3,000 crore in subsidies to oil marketing companies," Oil Secretary S Sundareshan told reporters on the sidelines of a pre-event of the Petrotech 2010 oil and gas conference here.
Oil Minister Murli Deora had yesterday met Finance Minister Pranab Mukherjee seeking hike in cash compensation for state-run oil companies, which lost over Rs 31,000 crore on selling fuel below cost in the first half of this fiscal.
In a boost to state-run oil marketing companies, the government has agreed to give an additional Rs 3,000 crore to them to make up for part of revenue they lost on sale of fuel below cost.
"I am told that Ministry of Finance has released an additional Rs 3,000 crore in subsidies to oil marketing companies," Oil Secretary S Sundareshan told reporters on the sidelines of a pre-event of the Petrotech 2010 oil and gas conference here.
Oil Minister Murli Deora had yesterday met Finance Minister Pranab Mukherjee seeking hike in cash compensation for state-run oil companies, which lost over Rs 31,000 crore on selling fuel below cost in the first half of this fiscal.
