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Govt argument to justify fuel price hike far from truth: BJP

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New Delhi, Jun 30 (PTI) Citing public data to substantiate its contention, BJP today said the government''s argument that petro prices had to be hiked as the public sector oil companies were facing losses was far from truth.
"The government had said while increasing prices of diesel and kerosene that the petroleum companies were facing big losses so it was constrained to increase the prices. We want to say that the government is not speaking the truth," BJP Chief spokesperson Ravi Shankar Prasad said.
Rattling off profit figures quoted in advertisements by the public sector oil companies, Prasad said all of them had made substantial profits in the last two years.
"ONGC had made a profit of Rs 22,455.83 Crore in the financial year ending March 31, 2011 and Rs 19,403.53 Crore in the previous year. Indian Oil Corporation had made a profit of Rs 8085.62 Crore in the financial year ending March 31, 2011 and Rs 10,998.68 Crore the previous year," Prasad said.
Similarly, Hindustan Petroleum had earned profits of Rs 1,702 Crore in the financial year ending March 31, 2011 and Rs 1,476 Crore the previous year.
"Bharat Petroleum Corporation, which is the smallest of these companies, made profits of Rs 174 crore in the financial year ending March 31, 2011 and Rs 171 crore the previous year," Prasad said.
The senior BJP leader said the "whole argument" of the government that these companies were "bleeding" is not correct.

http://in.news.yahoo.com/govt-argument-justify-fuel-price-hike-far-truth-152300825.html
 
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