Your message is very clear, if IOC thinking your message dont have any substance to relieve this losses, then IOC should make a clear decisions to protect the company / shareholders itself.
Apart from this government should encourage other subsidies for alternative fuels. so that the demand for the crudes will go down.
The crux is that INDIA should be Energy independent! Like California at least couple states in the country should initiate activities keeping the above in mind!There no absolute political will or patriotic fervor in polity to do this.
Can you pl provide - proper disclosures regarding your relationships with RIL, Essar Oil. Have you accepted money/benefits from them or not? Have you or have RIL/Essar paid Rediff for this news item _ making it Paid News / Advertisement.
Why dont you write letters to CEOs of other companies where public shareholding is >50%. Pl mention how many such letters you have written for other companies.
You are free to sell the shares of IOC - as govt still owns >50% of IOC.
Re: Mr Bisht - how many shares of IOC do you own
by Sudhir Bisht on Aug 19, 2012 05:21 PM
(1)How many shares of IOC do you personally own. (Ans) Less than 100
(2)Can you pl provide - proper disclosures regarding your relationships with RIL, Essar Oil. (Ans) Worked in IOC for 11 years. My heart beats for IOC always. Worked for Reliance for 2 years. Some of the Best PSU ex-workers built the great RIL fuel station network, before the differential prices brought it down. (3) Have you accepted money/benefits from them or not? (Ans). No. Never. I am too much of an IOC loyalist to do that. The article is meant to wake you the highly intellectual but a bit fearful IOC management to get its subsidy on time In conclusion, I like your anger, I respect your sentiments and would appreciate if you reciprocate. Cheers
Mr Bisht probably takes money or is a stooge of private oil companies....All private oil companies like RIL want is to raise oil prices by public sector companies so that they can then follow through.
Alike the proposed one LPG connection per household..this government( which is helpless in front of everything )should allow only one car per household and also it should ensure that the car loan becomes dearer by 100%.This will reduce the consumption of petrol and diesel, it will conserve our oil resources, it will save foreign exchange , it will reduce burden of subsidy and above all it will pull back the pace of fast life of people. And perhaps can reopen the gates of dark ages.
India MUST Ban Oil Imports Immediately&Live with our Fuels produced in our soil ONLY! Let the rich pay for the petrol or diesel at the price decided by fixing the imported price and tax, then our economy will be on top of the world and One rupee will fetch at least 10 Dollars or 100 Dollars soon too!
Re: India MUST Ban Oil Imports Immediately&Live with our Fuel
by paper india on Aug 15, 2012 06:42 AM
How you run the country without fuel ! You think only the rich would be affected. How are the poor going to cook their food without LPG or kerosene ?
Re: India MUST Ban Oil Imports Immediately&Live with our Fuel
by Peter Damien on Aug 15, 2012 09:33 AM
Kiddo, why cant you have a chat with your mama on how she cooked your breakfast today and how your father commuted to work to put a meal on your plate.
Dear Mr Bist , If Mr Butola as u have advised he will lose his job and Govt will put a yes man in place. The prime criteria of a chairman of a PSU is to be a Yes Man.
Re: do u want the Butola to lose his job ?
by Sudhir Bisht on Aug 15, 2012 10:27 AM
Ha Ha. You are right but why should the shareholders suffer for this
Re: Re: do u want the Butola to lose his job ?
by jitender singh on Aug 18, 2012 04:38 PM
no body amrtwisted shareholder into buying the shares of a PSU knowing that it runs according to whims of govt.
Re: do u want the Butola to lose his job ?
by Sudhir Bisht on Aug 19, 2012 05:24 PM
Mr Butola is one of our finest Leaders. I am challenging him to be assertive. That's all. As I said in my article that I have highest personal regards for Shri Butola
Mr Bisht's knowledge of the PSU oil company business is very poor . IOC Chairman's point of view is absolutely correct . Margins are highly dependent on crude prices and exchange rates . Gone are days when cruse was 30 dollars a barrel and dollar rate was below Rs 40 . Oil PSU made huge profits in that scenario .Not anymore . Bisht does not know what Reliance and Essar are doing
Re: PSU Oil company losses
by Ravichander Thangavel on Aug 18, 2012 04:52 PM
Yes. What you say is correct.Cant the IOC think of improving productivity both in machines and manpower.Please think of the number of employees and the over heads that goes into the product.Many companies have turned green by adopting new methods and increasing productivity.IOC has to think ways of offsetting the cost increase through better productivity only.No private companies will afford to have such a huge manpower.
All oil psu's are in loss because money is being siphoned out of it. It a strategy for govt to pump in money into it and then eat it. Sam e is happening in all PSU, same happened in Air India. Answer for all Miseries privatisation which will also end subsidy.
Re: money being siphoned out
by paper india on Aug 15, 2012 06:38 AM
Wow ! You are some authority on PSU's. Then please also tell us how the money is siphoned off. These are not UP-Bihar zila parishads, you see !
Re: money being siphoned out
by Sudhir Bisht on Aug 19, 2012 05:27 PM
I think accusing a company like IOC of corruption is highly unjust and grossly unfair. Kindly explain how could the money ever get siphoned off.
