HomeNewsBusinessEconomyMurli Deora to ask FM to abolish duties levied on oil

Murli Deora to ask FM to abolish duties levied on oil

The companies have sought a meeting with the Finance Minister on Tuesday and are requesting for the Finance Minister to abolish import and excise duty on oil which were levied in the last budget.

January 17, 2011 / 22:54 IST

Oil Minister, Murli Deora defended the decision taken by the oil marketing companies to hike petrol prices saying oil companies had no alternative but to hike prices, given the heavy losses they were facing due to under-recoveries.

"These companies are Navratnas and are making huge losses. Navratnas cannot be allowed to bleed,

first published: Jan 17, 2011 04:37 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347