h a human face. He however, declined to specify any timeline for the deregulation of fuel pricing.Deora’s statement comes close on the heels of the finance minister Pranab Mukherjee’s proposal in the annual budget to form an expert group to advice the government on a viable and sustainable system for pricing of petroleum products.
He was speaking to reporters here at the sidelines of International Dawoodi Bohra Trade Exhibition.
Deora recalled that the centre has already hiked the prices of petrol by Rs 4 per litre and Rs 2 per litre for diesel. However, he mentioned that the prices of LPG and kerosene remain untouched.
As a policy, petroleum prices are regulated by the government which results in huge subsidy burden on the government. While Deora tended to be soft on kerosene and LPG, he justified the recent increase in the prices of petrol and diesel arguing the oil companies fall under the Navaratna category and they cannot sell at a loss.
Deora said the finance minister has allocated Rs 30,000 crore towards subsidy burden for LPG and kerosene. He added that the centre has not hiked the kerosene prices in a decade.
He said the government has been making periodic changes in petrol and diesel prices depending upon international prices and “it is as good as deregulation”.
He was speaking to reporters here at the sidelines of International Dawoodi Bohra Trade Exhibition.
Deora recalled that the centre has already hiked the prices of petrol by Rs 4 per litre and Rs 2 per litre for diesel. However, he mentioned that the prices of LPG and kerosene remain untouched.
As a policy, petroleum prices are regulated by the government which results in huge subsidy burden on the government. While Deora tended to be soft on kerosene and LPG, he justified the recent increase in the prices of petrol and diesel arguing the oil companies fall under the Navaratna category and they cannot sell at a loss.
Deora said the finance minister has allocated Rs 30,000 crore towards subsidy burden for LPG and kerosene. He added that the centre has not hiked the kerosene prices in a decade.
He said the government has been making periodic changes in petrol and diesel prices depending upon international prices and “it is as good as deregulation”.
For further details visit as : www.financialexpress.com/news/deregulation-need-to-have-a-human-face/488462/
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