Meeting of ministerial panel on fuel price hike postponedJune 15th, 2010 - 7:29 pm ICT by IANS
New Delhi, June 15 (IANS) A meeting of the empowered group of ministers (eGoM) set up to decide on a upward revision of fuel prices scheduled for Friday has been postponed.
No new date for the EGoM meet has been fixed.
Sources said key UPA allies like the DMK, Trinamool Congress and the NCP are opposed to any hike in petrol and disel prices, and the government will get time to build a political consensus on the issue.
There are also concerns that a fuel price hike will stoke inflation, which has breached the double digit mark at 10.16 percent.
The eGoM, chaired by Finance Minister Pranab Mukherjee, had met June 7 to consider the Kirit Parikh committee report recommending
freeing of petrol and diesel prices from government control but could not reach at a decision.
The report released in February said that transport fuel prices should be market based, instead of being subsidized heavily by the government. It also recommended a steep Rs.100 per cylinder hike in LPG rates and a Rs.6 per litre increase in kerosene prices.
The ministerial panel had noted in the last meeting that the government faced a financial burden of Rs.345,000 crore in compensating the losses incurred by the public sector oil marketing companies for selling fuel at subsidized rates between fiscal 2003-04 and 2009-10.
- EGoM to meet Friday to consider fuel price hike - Jun 22, 2010
- Ministerial panel may meet next week on fuel price hike - Jun 16, 2010
- Decision on fuel price hike deferred - Jun 07, 2010
- India Inc calls for dual pricing of diesel, LPG - May 24, 2012
- Ministerial meet to discuss LPG supply, price deferred - Sep 16, 2011
- Government decontrols petrol; hikes diesel, kerosene, LPG (Lead) - Jun 25, 2010
- Government to decide on diesel, LPG price hike Friday - May 24, 2012
- Empowered Ministers' Group to meet on fuel price - Jun 07, 2010
- 'Government should scrap petrol price hike recommendations' - Feb 04, 2010
- No fuel hike for now, says EGoM - Jun 07, 2010
- No plan to hike diesel, LPG, kerosene prices: Reddy - May 28, 2012
- Diesel price to be decontrolled in due course: Deora - Nov 01, 2010
- Diesel price deregulation not now: Oil secretary - Oct 27, 2010
- No government role in petrol price hike, says Pranab - May 15, 2011
- Shutdown against fuel price hike unjustified: Deora - Jul 04, 2010
Tags: crore, diesel prices, disel, dmk, finance minister, financial burden, fuel price hike, fuel prices, government control, kerosene prices, kirit, marketing companies, ministerial panel, ncp, political consensus, pranab mukherjee, public sector oil, rs 6, srj, upward revision