Liquidity crunch issue to be sorted out soon: Sundareshan

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New Delhi, Aug 1 (UNI) Petroleum Ministry today assured the oil marketing companies (OMCs) that it is taking all necessary measures to solve the liquidity crunch being faced by them.

''We have taken up the matter with the Ministry of Finance and they have promised to take it up with the Reserve Bank of India to ensure that the borrowing limit of the OMCs is raised,'' Petroleum and Natural Gas Additional Secretary S Sundareshan told reporters here.

State-run oil firm Indian Oil faces a shortage of Rs 10,000-12,000 crore, while BPCL and HPCL would be short by Rs 2,000-3,000 crore by September-end, he added.

UNI SBA SR HS1218

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