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Plugging Leaks

Ceypetco is pinning hopes on extended supplier credit from Malaysia and formula adjusted prices to plug a Rs.
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5.5 bn hole in the first 4 months this year.
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Ceypetco is pinning hopes on extended supplier credit from Malaysia and formula adjusted prices to plug a Rs. 5.5 bn hole in the first 4 months this year. The oil giant is in talks with Malaysia for extended credit of 180 days.
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US$ 136 mn in deferred payments to Iran have also fallen due.

Ceypetco is still losing on each litre of fuel, with Wednesday’s price revision shaving off just Rs.

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800 mn on the Rs. 3.5 bn subsidy tab in April.

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