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Updated: May 16, 2011 00:04 IST

Government has no role in petrol price hike: Pranab

Staff Reporter
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Union Finance Minister Pranab Mukherjee. File Photo: Sandeep Saxena
The Hindu Union Finance Minister Pranab Mukherjee. File Photo: Sandeep Saxena

After the deregulation of petrol price, the government had no say in its pricing, Union Finance Minister Pranab Mukherjee said here on Sunday, justifying the latest hike in petrol prices on the basis of the increase in the international prices of crude oil.

“Ever since June last year – when we took the decision to de-control and de-regulate petrol price – any decision to increase or reduce the petrol price is not taken by the government. This decision is taken by the oil marketing companies,” Mr. Mukherjee said.

Mr. Mukherjee said that when the decision was taken last June, crude prices were $68 a barrel in the international market; presently the price was $110.

Subsidy

“We continue to provide a lot of subsidy. Last year itself, the Centre has given a subsidy nearly worth Rs. 1 lakh crore,” Mr. Mukherjee said.

The Centre provided a subsidy of Rs. 16 for every litre of diesel, Rs. 26 for one litre of kerosene and Rs. 320 on every 14 kg cylinder of LPG, Mr. Mukherjee said.

Mr. Mukherjee is the chairman of the Empowered Group of Ministers, which is scheduled to meet next week, to consider a proposal to raise the prices of the subsidised petroleum products. “I cannot say what the EGoM will decide. The decision will be take when the meeting is held,” he said.

If the government has no control, why the government is there in the first place? Please resign and let us go for elections to form a new government...

from:  Ram
Posted on: May 16, 2011 at 16:37 IST

Is Pranab thinking people are fools still. I feel they all are fed this kind of statements by party bosses. PM always says he is not aware. Pranab says govt not responsible. So all petrol bunks just raise their price uniformly all over india on their own. What a JOKE man. This UPA govt is in for a rude rude shock soon.

from:  Naga
Posted on: May 16, 2011 at 13:52 IST

For deregulating the oil prices, there is no need of government only. If they cannot solve the problem, let them dissolve the government and go. let them compensate the loss from the corrupt ministers,M.Ps and M.L.As. why are they sucking the blood of common man. The finance minister's statement is irresponisble. No party is concerned about the common man.The government is elected by the public and it should work for the public. But it is working against the public and working for some private business people.
By deregulating the petrol price, they did not the find the solution, instead they have invented new problem.For this kind of solution, government is not necessary.Any illitrate can take these type of decision(deregulating the petrol price).

from:  Balamuthuraman
Posted on: May 16, 2011 at 13:26 IST

He thinks the people of India cannot think on their own and comprehend who is behind increases in prices of fuel.

The people of India have spoken with a deep sense of political wisdom in the recently concluded elections to 5 states. Amongst the reasons for the anger of the people are Corruption and Price rise in that order.

from:  K.S.Ranganathan
Posted on: May 16, 2011 at 06:59 IST
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