Search the Internet           Tips

Govt open to petro price-hike rollback: Naik

The Centre is likely to roll back the prices of certain petroleum products considering the socio-political environment in which it has been working.

"This will be done considering the ground realities," said the Union Petroleum Minister Ram Naik, who was speaking to reporters after a meeting at the Indian Merchant Chambers. "In running the government, only economic considerations do not always work," he said.

According to Naik, the Prime Minister Atal Bihari Vajpayee is seized of the issue related to the recent price-hike of petroleum products and the subsequent demands for roll back of the prices by some ruling partners. "He is in discussion with various ministries and will take a decision at an appropriate time," he observed.

"Actually, I was not happy at the time of increasing the prices because it would put pressure on the citizens. But from the economic point of view, I still reiterate that there is no room for rolling back the hike in oil prices," he added.

UNI

Money

Business News

Tell us what you think of this report