INDIA: Borrowings going up every month, says Indian Oil Corporation chief. Sarthak Behuria

With prices of petrol, diesel and cooking gas not aligned to international prices, the pressure on the finances of oil companies is increasing, a top industry official said on Saturday.

Indian Oil Corporation's chairman, Sarthak Behuria, told reporters on the sidelines of a function that "the borrowings of the company has been going up every month. Our inflow of funds has gone down but outflow has gone up."

Indian Oil Corporation
's credit rating has also gone down, Behuria said. He said the government has initiated some measures but these have been of limited help.

Source: India Times Economic

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