Oil PSUs to get ₹22,000 crore grant to offset LPG losses
The Cabinet approved a grant of ₹22,000 crore for state-run oil marketing companies on Wednesday to compensate them for losses incurred by selling cooking gas at below-market rates.
The grant will be distributed among the three corporations – Indian Oil, Bharat Petroleum and Hindustan Petroleum – and help ensure an “unhindered” supply of domestic cooking gas or LPG, said an official statement.
