Opinion - Letters to the Editor   

IOC pulled up

This refers to the report, `CAG pulls up Indian Oil Corporation' (May 11). The amount described as "infructuous" may appear high in absolute terms but to appreciate its true significance we must be told the percentage it is of the total investment expenditure in an undertaking of the size of IOC. Unless, of course, some mala fide is suspected. Then again, investment decisions are taken with obvious in-built risks and to comment on them with the advantage of hindsight only discourages entrepreneurship that is vital in a business venture.

V.K. Vallioor,
Hyderabad

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