Monday, February 8, 2010

Dated 8th February 2010

Issue : Pricing of Petroleum products

The pricing of Petro Products in the country needs to be rationalised and decontrolled.Oil is the foundation stone of any economy.If we continue with present state of subsidies, then companies like HPCL and BPCL will find it difficult to sustain and survive.

If the Middle class of India can spend Rs.150 for a movie ticket every fortnight, then they can certainly shell out Rs.100 extra for a LPG cylinder.Moreover, the diesel in the country need not be subsidised as it is mostly the Upper middle and rich classes which uses it in their high end Diesel variant SUVs.The farmers using diesel for irrigation purposes should be encouraged to switch over to alternative sources of energy.

Its high time Kirit Parikh committee's recommendations are implemented.To make it more bearable, we can start with an increase of Rs.25 in LPG and Rs. 0.25 in Kerosene every year, for the next 5 years.

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