IndianOil seeks more autonomy
New Delhi   18-Jul-2009
IndianOil, the nation's largest state-run oil firm, has asked the government for freedom to fix retail fuel prices and more autonomy in carrying out day-to-day affairs of the company. IndianOil in the annual performance memorandum it signs with the petroleum ministry, stated that the navratna oil companies should be granted freedom to fix retail selling price of petrol diesel domestic LPG and kerosene. The Government’s current policy of controlling fuel prices has seen oil companies losing revenues on sale of auto and cooking fuels.