Wednesday, Jun 29, 2005
Wednesday, Jun 29, 2005 |
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Mysore
Staff Correspondent
MYSORE: Left parties including the Communist Party of India and Communist Party of India (Marxist) on Tuesday staged a protest against the increase in the prices of petroleum products. The protesters said the prices of petroleum products have been on the rise, which will affect the prices of other goods. They said the Centre has been attributing the increase in the prices to the spiralling costs of crude oil at the global level. Added to these, State governments use petroleum products as milking cows by imposing sales tax. They said the Congress-led United Progressive Alliance (UPA) has increased the prices of petroleum products thrice during the past one year. They noted that the Left parties have been suggesting different ways of reducing the burden by exploring alternatives, which are not being taken seriously. They said nearly Rs. 5,400 crores collected as cess from public sector oil companies every year should be used to set up a corpus to be used to offset the increase in the international prices of crude oil. The subsidy given to companies exporting petroleum products, which is around Rs. 1,200 crores, should be reviewed.
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