The Finance Ministry in a study will verify the claims of losses by state-owned oil companies on selling diesel, LPG and kerosene below cost price and decide the quantum of subsidy for 2012-13 based on the report.
“The Finance Ministry in consultation with the Oil Ministry is conducting a study on the under-recoveries of the OMCs. The report is likely by November 15,” a senior government official told PTI.
—PTI