Have you ever think about Indian oil companies and how much money they are making? and how much actually they are contributing in to Indian communities?
In the events of recent oil price hike in India, I thought about it.
Firstly the question is, If Indian oil companies, owned by Govt of India, are making money out of Indian consumers, why they can not re-invest a fraction of their earnings in to India society?
People may think Indian oil companies are losing money because of International crude oil price hike, but it not like this. In 2010, Indian Oil Corporation, ONGC, Hindustan Petroleum and Bharat Petroleum had income of approximately $ 3.74 billion, $ 4.381 billion, $ 761.13 million and $ 825 million respectively [figure references from wikipedia 13/11/11].
Since all these companies are autonomous and Govt Owned, all this profit is actually made for Govt of India, which is further used by these companies to make more money from people of India.
Most painful questions in my mind are..
Oil companies are making money in India but how many oil companies..
.. have or supported any healthcare program?
.. do they support any education development programs, [except some handfull of scholarships]?
.. Do they support any development program of poor people in India?
Gas Agencies and Petrol Pumps are integrated part of Indian communities. They are in every village of India. Unfortunately, they not profitable for dealers now days because of the competition between companies. However, because companies had nothing invested in dealerships [all the land and investment is generally provided by the dealer] oil companies are still in profitable.
Oil companies in India are trying to squeeze as much money from their dealers and consumers as they can for their shareholders.
President of India owns ~ 78.92% of Indian Oil Corporation. Which makes her billionaire [~ $27 billion] as per the recent valuation of Indian Oil [$ 34.36 billion]. Reference
When billionaire like Bill Gates can invest his personal fortune in health care and the human development in India, why not Indian companies? Even though these companies are owned by Government of India.
Amit
True Yogis should renounce worldly pleasures, give food and shelters to poors, but not like Baba Ramdev, who flies in private jets to start anti-corruption campaign.
Anna Hajare might have true intentions to cure corruption in India but having ally like Baba only hurts his campaign.
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very easy and safe to invest swiss bank oil co.bearing only name ,why should bother for ??????