The government today said that the public sector Oil Marketing Companies, OMCs, have reported a combined loss of 4,403 crore rupees during the first quarter of current fiscal. In written reply to a question in the Rajya Saha, Minister of State for Petroleum and Natural Gas Mrs Panabaaka Lakshimi said OMCs have incurred under-recovery of one lakh sixteen thousand twentynine crore rupees during 2012-13. They also incurred under-recovery of 25,579 crore rupees during April-June 2013. She said the government continues to modulate the retail selling price of Diesel, PDS Kerosene and Subsidized Domestic LPG and their prices have not been increased in line with changes in the international market.
News On AIR | August 27, 2013 4:57 PM
Govt says, public sector OMCs combined Q1 losses of Rs 4,403 crore