Above all these five reasons, RIL is owned by Ambani and these Media mamas will protect him at all costs.
Why should IOC HPCL BPCL bear all the brunt of populist politics. Why not private companies share the responsibility. What will happen if IOC HP BP start closing their bunks as they are listed companies and profit is their motives.
One fine day CAG will rap all these Govt companies for all these things.
Do you know that public sector refiners like HP,BP,IOC gets oil bond in the form of subsideries? Do you know that ONGC gives crude to these government refineries at a reduced rate while Reliance imports from Gulf at market rate.
RE:0th reason
by Milind Sovani on Jul 17, 2008 11:06 AM Permalink
But why Reliance closed all petrol pump in India? What about job loss? 20% oil must sale in India.
RE:0th reason
by sanjay Mor on Jul 17, 2008 01:06 PM Permalink
Reliance has closed those pumps , because they are not getting subsidy from the government for selling these fuels for the price lower than the cost. Therefore instade of selling the fuel in loss nthey closed the pumps. But you know that when government gives subsidy to these HP BP & IOC then that money goes from your/our pocket in the form of taxes?
RE:0th reason
by asad hgjkf on Jul 17, 2008 12:33 PM Permalink
The private companies run for profits, not for social work. The only reason for running a private company is generating profits for the share holders.
RE:0th reason
by ASHOK on Jul 17, 2008 02:29 PM Permalink
If private company runs with a loss, than there is already a builtin mechanism by the government to acquire it and sell it to someone else . BANKS/Financial institutes (Government owned), who give loans to private sector want adequate returns.
