Jaya slams fuel hike, says AIADMK to change price fixation policy

Last Updated: Friday, February 28, 2014 - 23:39

Chennai: Slamming the Centre for hike in prices of petrol and diesel, Chief Minister Jayalalithaa said the UPA government seemed to consider itself "unquestionable"
But, people have to bear with this problem only for three more months after which a change of guard with AIADMK in it would change price fixation policy for petroleum products, she said in a statement.

Following "poison-like" prices and anti-people activities of the Central government, people were preparing to overthrow it and on Friday`s revision of 60 paise per litre for petrol and 50 paise for diesel would only further propel price-hike, she said.

It seemed the Centre seemed to consider itself "unquestionable" she said, while condemning the decision of Oil Marketing Companies(OMCs).

As usual, OMCs had cited increase in international crude prices and depreciation of the Indian rupee. Such monthly revisions would severely impact the poor and middle class Indians, she said.

The move would result in a cascading effect on increase of prices of public and private transport besides hike in essential commodities and vegetables. She demanded withdrawal of authority given to OMCs for determining fuel prices.

"Whatever it may be, people have to put up with this misery only for another three months. After that, as mentioned in AIADMK`s election manifesto, efforts will be taken to change the price fixation policy," she added.

In its manifesto, AIADMK had said if price of petrol and diesel is determined based on cost of production of crude oil within the country, the actual price of imported crude oil and the cost of refining it, then it would be a fair pricing mechanism.

"Action will be taken to determine the direct two-way exchange rate between the currency of different countries and the Indian rupee, i.e. -a currency swap arrangement will be put in place. A separate fund will be established to insulate and hedge the impact of variations of exchange rate on the price of petroleum products and thereby protect the common public from adverse price shocks," it had said.

The manifesto had envisaged the party being an "integral part" in the next government at the Centre after the Lok Sabha polls.

PTI

First Published: Friday, February 28, 2014 - 23:39

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