Oil sector under stress; Ministry seeks Rs 49,000 cr to compensate oil companies
Kirit Parikh, Chairman of Integrated Research & Action for Development & Former Member Planning Commission and R K Singh, CMD of BPCL discuss the stress on oil sector as oil marketing companies are losing nearly Rs 530 cr a day while under-recoveries stand at Rs 17,000 cr in April, which is 40% of FY13 budgeted subsidy. The oil ministry is seeking Rs 49,000 cr to compensate losses which can go a long way in helping companies.
