OMCs will continue to bleed as govt rules out dividend relief

He became reacting to reports of discount in dividend from oil marketing agencies, reduce in subsidies, lesser disinvestment sales and so forth. 'This is absolutely fabricated. Nothing of that is proper in any respect,' he tweeted. The authorities has set an formidable target of Rs eighty,000 crore for the contemporary monetary 12 months. With regard to country-owned gasoline shops soaking up Re 1 reduction in line with litre of petrol and diesel expenses, enterprise assets said the circulate would bring down their earnings via Rs nine,000 crore on an annualised basis. For the remainder of the continuing financial, it might be Rs 4,500 crore, with IOC's percentage being kind of 1/2 and the rest is split equally between HPCL and BPCL. Jaitley had said that country-owned fuel shops were making profits and can take in such outgoes. Dailyhunt http://freemusicarchive.org/member/zeeshanpech

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