New Delhi
The government has sought a record dividend of Rs 19,000 crore from state-run oil companies to boost its finances, The Economic Times reported.
More than half of this amount, 60 percent, is payable by the Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC), the report added.
Company executives told the paper that the finance ministry’s request comes at a time of declining profits and despite the government’s reduced stake in oil companies.
“What they are asking for is not in sync with the profits reported so far this year,” an executive told the paper.
