Our Bureau

New Delhi, Sept. 1

The Petroleum Minister, Mr Murli Deora, has appealed to the public sector oil companies' officers to call off their proposed indefinite strike from September 5.

Speaking at a function to celebrate the 43rd Indian Oil Corporation Day, the Minster said that PSUs were facing a challenging situation due to volatile international oil prices and were saddled with large under recoveries during 2005-06, which would increase further this year.

In such a scenario, the management and the officers of various companies have a special role in retrieving the situation, he said. He reiterated that the Government is sympathetic to the welfare of employees and officers of its PSUs in general and oil sector entities in particular. The ONGC and Indian Oil managements have got a High Court stay order on the strike.

Speaking about IndianOil, the Minister asked the company to imbibe technological innovations in its various activities. This is particularly true post-deregulation, which has thrown open various opportunities for the company.

(This article was published in the Business Line print edition dated September 2, 2006)
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