Public sector oil companies were missing a huge Rs 150 crore daily on the sale of petroleum products.

Sarthak Behuria, the IOC chairman, said Indian Oil Corporation alone lost Rs 80 crore each day.

Rejecting to mention the amount of hike hinted by the oil companies to counterbalance the loss, Mr. Behuria said it was for the Centre to resolve.

US President George W Bush has expressed the need for growth of democratic system across Asia.

In a lecture previous to the Asia-Pacific summit in Sydney, he stated free countries should work collectively in order to back up democratic bodies.

Mr. Bush singled out Burma, calling on the military administration to release all political prisoners, comprising opposition head Aung San Suu Kyi.