For representational purposes (Photo | EPS)
Nation
Indian Railways owes over Rs 1,000 crore to various oil companies
Officials say that the fluctuating diesel prices are the main reason behind owing of bills.
NEW DELHI: The Indian Railways owes various oil companies Rs 1,384.48 crore in fuel bills, Railway Minister Piyush Goyal said in Parliament on Wednesday.
The national transporter owes Indian Oil Corporation (IOCL) around Rs 1,000 crore while it owes Bharat Petroleum Corporation Limited (BPCL) Rs 154 crore. The other companies include Hindustan Petroleum Corporation Limited (HPCL), Reliance Industries Limited (RIL) and Nayara Energy Ltd.
While it owes HPCL Rs 61.53 crore, RIL and Nayara Energy Ltd are owed Rs 115.6 crore and Rs 15.96 crore respectively.
Officials say that the fluctuating diesel prices are the main reason behind owing of bills.