PM Steps Between Oil Companies and Airlines Over Fuel Bills

Author: Mp Rana

Indian Prime Minister Manmohan Singh has stepped in between the matter of private airlines and state-run oil companies regarding the unpaid fuel bills. Manmohan Singh has asked Murli Deora, Petroleum and Natural Gas Minister, and Civil Aviation Minister Praful Patel to look into this matter and resolve it as soon as possible.

Singh is believed to have spoken to the Oil Minster yesterday in this regard, and Deora has called a meeting of airlines and oil companies tomorrow. Singh is concerned about the matter as no one wants airlines to discontinue its operations and similarly the oil companies to lose much.

Deora while speaking to the reporters said that they want to help the oil companies and airlines and has called for a meeting tomorrow in order to explore some options in this regard. The three major airlines- Kingfisher Airlines, Jet Airways and state-owned NACIL if combined together owe over 2,000 crore related to fuel bills payments to Bharat Petroleum, Indian Oil and Hindustan Petroleum.

Oil companies in India are expected to currently suffering with a loss of Rs 1,47,592 crore and losing Rs 280 crore per day by selling petrol, diesel, domestic LPG and kerosene. Borrowed fund are the major source that are keeping these companies alive and they require urgent liquidity measures.