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Our Bureau

New Delhi, Nov. 21

The second batch of supplementary demands for grants introduced in the Lok Sabha on Tuesday has a demand for grants by the Ministry of Petroleum and Natural Gas for a sum of Rs 11,256.92 crore that was tucked into the section entailing no cash outgo to the Government as the expenditure is to be met through enhanced receipts or recoveries by the Ministry concerned.

The ostensible purpose of the demand for grants of such a gargantuan sum is for providing compensation through issue of special securities to the oil marketing companies towards estimated under-recoveries on account of sale of sensitive petroleum products.

The under-recoveries of oil marketing companies stem essentially from the Government’s reluctance to adjust upward prices of crude and petroleum product prices when global oil prices are on the increase.

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