Government Will Not Get Any Dividends From OMCs This Year | Latest Business News

Government is unlikely to get any dividends from Oil marketing companies this year. ET Now has learned from sources that OMC has told the government that they are still fighting with under-recoveries and are not in a position to pay any dividend. Prakash Priyadarshi has more details.Exclusive Sources:OMCs under-recovery has narrowed down but still not over If the situation does not improve dividend to the government is unlikely this year.OMCs may report losses in the September quarter as well Under recovery on diesel has reduced to Rs 18/ltr from Rs 38-40/ltr. There is no under-recovery on Petrol now, but OMCs are recovering the losses.Oil ministry sees domestic demand for diesel going up in Oct-Nov.Demand for diesel is going up globally due to various factorsThe oil ministry estimates global crude prices to remain firm in the near term. Windfall tax on diesel export was increased to maintain stable supply in the domestic market.

Leave a Reply

Your email address will not be published. Required fields are marked *