Government approves ATF stabilization fund worth Rs 10,000 crores
Amidst the ongoing West Asia crisis, the Union Cabinet, chaired by the Prime Minister, has approved the aviation turbine fuel (ATF) price stabilisation fund. It will be a one-time budgetary support of up to Rs 10,000 crore for oil marketing companies (OMCs).
As per the updates, this support will be provided as an interest-free advance through the Ministry of Petroleum and Natural Gas and will compensate OMCs whenever international ATF prices exceed a benchmark price determined under the approved mechanism.
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