Wait a min.....India was supposed to be under Psuedo-APM (well the real APM was not dismantled in 2004)
No man .....now the companies are free. Kudos to IOC for taking this bold step. Though my company (HPCL) still believes in licking Govt. Orders (true signs of a Government Department). It still kept the lowest rate (read the most loss making)
This will open the gate for private investments in Oil & Gas sector esp. fuel retailing. I hope Reliance, Shell and Essar will start again. I still do not understand why the Government should be controlling the pump prices. The Government should leave the pump prices to the market and let the Oil PSU's do their independent pricing.
I very well understand the issue of exploitation of customers esp in rural areas or monopolistic pockets, but I strongly believe that slowly and steadily the open markets will take care of everything.
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