ONGC Director Finance Subhash Kumar said that the financial position of the company is strong.
Public sector Oil and Natural Gas Corporation (ONGC) has said that its financial position is strong and it is getting enough revenue for all the capital and operational expenses. The company denied the news that it used the overdraft facility to pay the salaries of its employees. ONGC Director Finance Subhash Kumar said that the company's financial position is strong and it is in a position to meet its budgetary expenditure of Rs 32,077 crore for 2018-19.
He said that news is coming from some circles that the company is unable to pay the salaries of its employees. These reports are completely wrong and are being run under a misleading campaign. Kumar said that in the event of the low prices of crude oil, we have been fulfilling all our commitments. Crude oil prices are definitely better at this time and there will be no question of any wrongdoing. He said that the company's annual revenue is Rs 85,000 crore. He has enough resources to meet the capital and operational expenses. The salary is quite small.
Subhash Kumar said, "We are non-political organizations. We do not want to fall in politics, but the truth is that I have enough resources to meet the expenditure in the budget, which includes salaries of employees." "The financial condition of the company is as strong as it was before, we are able to meet the budgetary expenditure of 32,077 crores," he said.
Congress spokesman Manish Tewari had earlier said this week that the ONGC Employee Workers' Sabha has written a letter to Prime Minister Narendra Modi alleging that the public sector petroleum company has become a debt-ridden company with cash richness. At the same time, the company had to use the overdraft facility to pay the salaries of its employees.
Public sector Oil and Natural Gas Corporation (ONGC) has said that its financial position is strong and it is getting enough revenue for all the capital and operational expenses. The company denied the news that it used the overdraft facility to pay the salaries of its employees. ONGC Director Finance Subhash Kumar said that the company's financial position is strong and it is in a position to meet its budgetary expenditure of Rs 32,077 crore for 2018-19.
He said that news is coming from some circles that the company is unable to pay the salaries of its employees. These reports are completely wrong and are being run under a misleading campaign. Kumar said that in the event of the low prices of crude oil, we have been fulfilling all our commitments. Crude oil prices are definitely better at this time and there will be no question of any wrongdoing. He said that the company's annual revenue is Rs 85,000 crore. He has enough resources to meet the capital and operational expenses. The salary is quite small.
Subhash Kumar said, "We are non-political organizations. We do not want to fall in politics, but the truth is that I have enough resources to meet the expenditure in the budget, which includes salaries of employees." "The financial condition of the company is as strong as it was before, we are able to meet the budgetary expenditure of 32,077 crores," he said.
Congress spokesman Manish Tewari had earlier said this week that the ONGC Employee Workers' Sabha has written a letter to Prime Minister Narendra Modi alleging that the public sector petroleum company has become a debt-ridden company with cash richness. At the same time, the company had to use the overdraft facility to pay the salaries of its employees.
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