Date:09/04/2005 URL: http://www.thehindu.com/2005/04/09/stories/2005040907751501.htm

Business - Briefly

IOC to charter ships

NEW DELHI, APRIL 8. The Union Cabinet today decided to allow Indian Oil Corporation to charter ships for oil imports, instead of through Transchart, the agency under the Ministry of Shipping. This had been recommended by a Committee of Secretaries. Announcing this, the Union Minister and Cabinet spokesperson, Jaipal Reddy, said the decision was in line with de-regulation of the petroleum sector and would enable level playing field for private and public sector oil companies.

— Our Special Correspondent