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Isaac alleges deal with palm oil lobby

KASARAGOD: The decision of the Union government to distribute palm oil through the public distribution system after providing subsidy of Rs.15 per kg is a culmination of the discussions it began with the palm oil lobby in February 2007, Finance Minister T.M. Thomas Isaac has said.

Mr. Isaac was inaugurating a treasury at the commercial taxes check-post at Manjeswaram in the district on Saturday.

The decision of the Union government is the outcome of a deal with the palm oil lobby, he said.

The annual report of the Malaysian Palm Oil Council had references of discussions held by it with the government of India on February 8 and 9, 2007, said the Finance Minister.

As per the references, the council had organised visits to New Delhi to explore the possibility of distribution of palm oil through the public distribution system and establish good relations with the government of India, said Dr. Isaac. The Finance Minister said Leader of the Opposition Oommen Chandy, who portrayed the move of the Union government as an effort to control the increase in price of edible oils, should clarify his opinion on the issue in the light of the latest revelation.

Why did the Union government limit subsidy to imported palm oil and soya bean oil if the aim was to control prices, asked Mr. Isaac. The government should have provided subsidy to coconut oil produced in India and distributed it through the PDS, said Mr. Isaac.

Mr. Isaac noted that the price of palm oil would be reduced to Rs.45 a kg if distributed after providing subsidy and it would prove harmful to coconut oil as its price was Rs.65 a kg in open market.

While the Union government stopped distribution of ration to those belonging to the above poverty line category, edible oil would be distributed to the APL group also, noted the Finance Minister.

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