Administered price mechanism for petroleum products cannot be brought back as the country had gone far ahead with deregulation, Union Minister for Petroleum and Natural Gas Veerappa Moily said at a press meet here on Saturday
Mr. Moily, who was here for discussions as chairman of the All India Congress Committee’s manifesto implementation monitoring committee for Kerala, said India was heavily dependent on oil imports, which was linked to the rupee rate. In such a situation, it would not be possible to go back on deregulation.
He said his Ministry was considering a plea by the State for restoring concessions to the Kerala State Road Transport Corporation as a bulk consumer.
