Public sector oil companies today paid Rs 2,687 crore to the government as interim dividend for 2002-03 to bridge its fiscal deficit target.
The Oil and Natural Gas Corporation (ONGC) paid Rs 2,038.88 crore dividend, while Indian Oil Corporation (IOC) contributed Rs 319.36 crore to the exchequer, Petroleum Minister Ram Naik said here.
Gail India Ltd paid Rs 170.85 crore and Oil India Ltd Rs 84 crore. Privatisation-bound Hindustan Petroleum Corporation Ltd (HPCL) paid an interim dividend of Rs 34.61 crore, while Bharat Petroleum Corporation Ltd (BPCL) contributed Rs 39.72 crore.
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Incidentally, the total interim divided received by the government from the six oil PSUs for 2002-03 is 82 per cent of the Rs 3,206 crore dividend against its equity received in 2001-02.
Naik said the government was in need of finances and