Aiming to compensate for under-recovery made by the public sector oil marketing companies (OMCs) on account of the sale of LPG, the government today sanctioned a one-time grant of Rs 22,000 crore to them.
Briefing media about the decisions of the Union cabinet, which was chaired by Prime Minister Narendra Modi, Information & Broadcasting Minister Anurag Thakur said, the approval has been made to give the one-time grant of Rs 22,000 crore to three oil marketing companies — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL).
