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FM offers to pay one-third of OMCs demand for compensation. ( The Union Petroleum Ministry has urged the Finance Ministry to compensate the entire loss of about 31,700 crores incurred due to under recoveries by these three companies for 2009-2010).

India Business Insight

| January 26, 2010 | COPYRIGHT 2001 Silverline Information Systems Pvt. Ltd. (Hide copyright information)Copyright

The Union Finance Ministry has offered to compensate one third of the losses incurred by the three public sector oil marketing companies IOC, BPCL and HPCL due to under recoveries on sales of petrol and diesel.

The Union Petroleum Ministry has urged the Finance Ministry to compensate the entire loss of about 31,700 crores incurred due to under recoveries by …

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