Administered prices in India
Administered prices in India is a system based on the retention price concept under which the oil refineries, oil marketing companies and the pipelines are compensated for operating costs and are assured a return of 12% post-tax on networth. Under this concept, a fixed level of profitability for the oil companies is ensured subject to their ______ ____ ___ ______ _______ ________ ____ _____ __________ _________ ________.
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