The Hindu Business Line : Govt considering interim dividend by oil PSUs

THE Finance Ministry has confirmed that it was considering a proposal for asking public sector oil companies to pay interim dividend. However, it said that this was not to make up for slippages in fiscal deficit targets.

"We have talked to the Petroleum Ministry about the interim dividend issue, but it is not linked to fiscal deficit," the Finance Secretary, Mr D. C. Gupta, said while releasing the mid-year review of the economy. He said the final decision would rest with the boards of the companies concerned.

He added that the Petroleum Ministry had discussed with the Finance Ministry the possibility of unlocking the crossholding among the state-owned oil companies.

"The Petroleum Ministry has come up with a proposal to release the cross-holding that were entered among the companies in the nineties," he said.

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