Govt seeks Par nod for Rs 30,000 cr payout to oil cos

Finance Minister Pranab Mukherjee presented in Parliament second supplementary demands for grants of Rs 56,848.46 crore, more than half of which was for compensating state-owned oil firms for selling diesel, domestic LPG and kerosene at government-controlled prices.

Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum (BPCL) had lost Rs 64,900 crore in revenues on selling diesel, domestic LPG and kerosene below cost in April-September period.

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