The Hindu : National : `Petroleum price revision only after consultations'

Online edition of India's National Newspaper
Saturday, May 14, 2005

National

National

`Petroleum price revision only after consultations'

Special Correspondent

KOLKATA: Petroleum and Natural Gas Minister Mani Shankar Aiyar on Friday ruled out any immediate increase in the prices of petroleum products.

"A decision would be taken only after consultations with all constituents of the United Progressive Alliance and the Left parties," he said here.

He had sought a date for a meeting of the Cabinet. His Ministry had prepared a report for its consideration.

On Indian Oil Corporation becoming an equity partner in Haldia Petrochemicals Ltd in West Bengal, the Minister said the decision was left to the HPL board. IOC proposed to pick up a 7.5 per cent stake in HPL.

Mr. Aiyar, who also holds the Panchayati Raj portfolio, said a Rs. 500-crore fund was planned towards empowerment incentiveand better governance at the panchayat level. Steps were being taken to ensure devolution of Central funds and reforms in Central-sponsored schemes.

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