India: Reliance Petrol Dealers to Get Compensation
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Wednesday, 09 April 2008 |
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Reliance Industries will compensate its petrol pump dealers for the losses they
incur while running the pumps, the company's President (Petroleum) Partha Maitra
said.
RIL had set up about 1,350 petrol stations across the country, of which 950 were owned by the company and have been closed due
to unremunerative prices. However, the remaining 400 petrol pumps run by dealers are still in operation.
Maitra said the company will keep all its 950 petrol pumps idle and take review of the situation later. The government cannot
keep the present situation continue for long. Oil price in India will
need to match the international prices, he said. "This is the only
segment in our
business where we are making losses," he said.
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