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Govt to withdraw restrictions on prices of petroleum products by April 2001
The Centre on Saturday hinted at a possible marginal hike in prices of kerosene and liquefied petroleum gas (LPG) after dismantling of the administered price mechanism (APM) in April 2002.
The Centre on Saturday hinted at a possible marginal hike in prices of kerosene and liquefied petroleum gas (LPG) after dismantling of the administered price mechanism (APM) in April 2002.
"After 2002, the open market`s commercial transactions will be in place. Since we are importing 70 per cent of our crude, the impact on international market vagaries will be felt on the domestic prices," Union Minister for Petroleum and Natural Gas Ram Naik told reporters aboard Oil and Natural Gas Corporation`s flagship drilling rig "Sagar Samrat" in Mumbai.
The minister said post APM while the government would continue the subsidies on petroleum products, the price of kerosene through public distribution system would be hiked by Rs 1.20 at a 33.33 per cent subsidy level.
In LPG, after April 2002, the phase-out subsidy level was of 15 per cent which would not be achieved immediately, so there would be some increase in its prices too, he said.
"All these decisions will be given a final shape in the budget next year. Interministerial discussions are on and a road map is being prepared on the subject", Naik said.
Meanwhile, referring to the ongoing crisis over CNG in Delhi, Naik said the government would file an affidavit on August 16 in the Supreme Court explaining its constraints over making the entire capital`s buses and autorickshaws run on the cleaner fuel.
"Delhi`s problems cannot be solved so easily. Nowhere in the world buses and autos run exclusively on CNG...", he said.
Bureau Report
"After 2002, the open market`s commercial transactions will be in place. Since we are importing 70 per cent of our crude, the impact on international market vagaries will be felt on the domestic prices," Union Minister for Petroleum and Natural Gas Ram Naik told reporters aboard Oil and Natural Gas Corporation`s flagship drilling rig "Sagar Samrat" in Mumbai.
The minister said post APM while the government would continue the subsidies on petroleum products, the price of kerosene through public distribution system would be hiked by Rs 1.20 at a 33.33 per cent subsidy level.
In LPG, after April 2002, the phase-out subsidy level was of 15 per cent which would not be achieved immediately, so there would be some increase in its prices too, he said.
"All these decisions will be given a final shape in the budget next year. Interministerial discussions are on and a road map is being prepared on the subject", Naik said.
Meanwhile, referring to the ongoing crisis over CNG in Delhi, Naik said the government would file an affidavit on August 16 in the Supreme Court explaining its constraints over making the entire capital`s buses and autorickshaws run on the cleaner fuel.
"Delhi`s problems cannot be solved so easily. Nowhere in the world buses and autos run exclusively on CNG...", he said.
Bureau Report