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Communists say no to fuel price hike PDF Print E-mail
Monday, 26 May 2008

Reuters, Mumbai- India's communist parties that shore up the ruling coalition said on Friday they oppose any move to raise petrol and diesel prices to ease losses at state oil firms hit by surging crude rates.

"The UPA (United Progressive Alliance) government should realise that it will have to face the wrath of the people suffering due to price rise and the deterioration in their living standards," the parties said in a statement after meeting with the coalition.

M.S. Srinivasan, the petroleum secretary, said on Friday a price hike was inevitable despite fears such a move will fuel already high inflation. Oil Minister Murli Deora said immediate steps were needed to save oil firms but added the government may take a week to act.

Prakash Karat, the head of the Communist Party of India (Marxist), said the government should have restructured the excise and customs duty regime on crude oil and petrol products.

"We have given the proposals to the UPA government for the last three years. They should accept our proposals instead of going for a hike." he told reporters.

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