Rs 22,000 crore grant to oil firms to make up for loss incurred on subsidising LPG

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The Government will extend a one-time grant of Rs 22,000 crore to three State-owned fuel retailers to cover for the losses they incurred on selling domestic cooking gas LPG below cost in the last two years. The Cabinet   approved the one-time grant to Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL).

Daily Pioneer
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