Oil ministry to push for ₹44,000 crore compensation to offset LPG losses
The petroleum and natural gas ministry is planning to push for an allocation of ₹44,000 crore to compensate state-run oil companies for the losses they have been incurring by selling domestic cooking gas at below-market rates, said people aware of the matter.
The amount would go towards offsetting oil marketing companies’ losses on the sale of cooking gas in 2021-22 and 2022-23 as well as providing subsidies to Ujjwala customers this year, said the people. The proposal is likely to be finalised shortly and sent to the finance ministry, they said.
