The government has said that it cannot see oil and marketing companies (OMCs) going into red. Oil Secretary R S Pandey said, “Under recovery has to be addressed every quarter. We cannot see public sector OMCs going into red.”
Under recoveries will have to be provided for either by upstream companies or bonds, he said. Parliament nod is needed for next tranche of oil bonds and Ministry of Finance will seek oil bond node in the next parliamentary session, he further added.
On differential pricing of diesel, Pandey said that it is tough to administer differential pricing of diesel in metros.
“Metro users should be discouraged by levying additional charges,” he said.
All oil PSUs have assured that there will not be any shortage of oil products. OMCs will provide LPG pending connections within 60 days.
“Metro users should be discouraged by levying additional charges,” he said.
Special oil tax to be levied on pre-Nelp leases, he added.
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