Some industry observers and experts are not satisfied with the move to de-control diesel prices partially by the government and they seek more aggressive steps on this front. It may be recalled that recently, the government allowed oil marketing companies (OMCs) to raise diesel price
Tag: subsidy
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201
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Dual-pricing in diesel market creates leakages
Media reports suggest that the government's move to create dual-pricing system in the diesel market has created leakages with bulk buyers turning to retailers for taking advantage of lower prices. While oil marketing companies (OMCs) are allowed to charge market-determined price for bulk diesel buyers, they must charge a subsidised
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OMCs unsure on cash transfer for cylinders
State-run Oil Marketing Companies (OMCs) in Hyderabad and Ranga Reddy districts seem to have no clarity on how the cash transfer will take place for subsidized cylinders. Some industry sources feel that the finance ministry will transfer the amount to the respective oil companies who will then reimburse the amount in the individual bank acco
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OMCs unsure on cash transfer for cylinders
State-run Oil Marketing Companies (OMCs) in Hyderabad and Ranga Reddy districts seem to have no clarity on how the cash transfer will take place for subsidized cylinders. Some industry sources feel that the finance ministry will transfer the amount to the respective oil companies who will then reimburse the amount in the individual bank acco
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Dual-pricing in diesel market creates leakages
Media reports suggest that the government's move to create dual-pricing system in the diesel market has created leakages with bulk buyers turning to retailers for taking advantage of lower prices. While oil marketing companies (OMCs) are allowed to charge market-determined price for bulk diesel buyers, they must charge a subsidised
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Ministry agrees to release Rs 250 bn to state-run OMCs
Government agreed to release Rs 25,000 crore as compensation to state-run oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum-for selling diesel, cooking gas (LPG) and kerosene at subsidised prices. The finance ministry gave a comfort letter to the OMCs intimating its plan to release the amount. How
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Govt to remove diesel under-pricing by mid-2015
The present under pricing of diesel will be removed progressively by mid-2015," Planning Commission Deputy Chairman Montek Singh Ahluwalia said in his address at India Energy Congress recently. Recently, oil marketing companies (OMCs) were allowed to charge market price for bulk diesel consumers. Also, for retail users of diesel, the gove
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Kerala govt promotes coastal shipping
The Kerala government is taking steps to boost transport of cargo through inland waterways and coastal shipping route in order to ease pressure on road infrastructure and also to reduce carbon footprint. In this regard, the state government announced a subsidy of Rs 1 for every 1 tonne of cargo moved through the coastal shipping