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(From Indian Express)
Indian Oil Corporation (IOC) is on the verge of monetising oil bonds worth Rs 5,276 crore. The oil PSU is at present in the final stages of negotiation with banks for this purpose. The proceeds of this would be used to retire the debt of Indian Oil Corporation . IOC is also awaiting the government's nod to sell its stake in ONGC and GAIL in an effort to liquidate its debt. IOC losing Rs 350 cr a month on subsidy
NEW DELHI: IOC is losing close to Rs 350 crore every month on providing subsidy on domestic cooking gas (LPG) and kerosene for public distribution system (PDS). "We are at loss of Rs 300 to Rs 350 crore every month for selling …