IOC current debt at over $14 bn: chief

IOC current debt at over $14 bn: chief
Comment E-mail Print Share
First Published: Tue, Dec 13 2011. 01 52 PM IST

Updated: Tue, Dec 13 2011. 01 52 PM IST
New Delhi: Indian Oil Corp’s current borrowings are at over Rs 790 billion ($14.9 billion) which it hopes to reduce by early January with some cash compensation from the government, its chairman R.S. Butola said on Tuesday.
He said the company hoped to get cash compensation of Rs 160 billion by early January for selling fuels at subsidized rates.
The government has agreed to give cash subsidy of Rs 300 billion to state-run firms selling subsidized fuels during April to September.
Comment E-mail Print Share
First Published: Tue, Dec 13 2011. 01 52 PM IST