Fuel Price Hike Deferred

T

TheBroker

Contributor
The fuel price hike has been deferred again for sometime :clap: :hap2: :ohyeah: .........wht say dudes and doodets

Thursday, June 16, 2005 (New Delhi):
Cabinet Committee on Economic Affairs (CCEA) today did not take up the issue of hike in petroleum prices.

Sources in the government said that the CCEA deferred the issue as some of the crucial cabinet ministers were not present at the meeting.

Earlier today, petrol and diesel prices were expected to be raised by Rs 1- 1.50 per litre.

Petroleum Minister Mani Shankar Aiyar will however, meet Prime Minister Manmohan Singh.

The two leaders are trying to finalise the means to wriggle through rising cost of crude and increase in taxation.

The Left parties, a key ally in the UPA coalition have already warned that they will launch a nationwide agitation if fuel prices are raised beyond what is acceptable to them.

Soaring price

Meanwhile, global crude oil prices rose to the highest in more than two months after the US Energy Department reported a larger-than-expected decline in US inventories.

An OPEC agreement to boost production quotas by 5 lakh barrels a day ailed to stop the gains.
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Source
 
Bad idea. You see, ONGC, IOC etc will crash, share prices will go down, IT companies will be affected, and all of us will be out of jobs.
The hike cannot be postponed too long.
They are looking to force private companies to share the subsidy burden.
Soon they will make them also bear reservation burden. And sell all products at only governement approved prices, only to people with licenses to use them
 
KingKrool said:
Bad idea. You see, ONGC, IOC etc will crash, share prices will go down, IT companies will be affected, and all of us will be out of jobs.
The hike cannot be postponed too long.
They are lookinbg to force private companies to share the subsudiy burden.
Soon they will make them also bear reservation burden. And sell all products at only governement approved prices, only to people with licenses to use them
Click to expand...
Thats true ..........this will lead to markets going down........unless tech sector will d something to rev up the market on the particular day..

Thts been on since quite a long time said by the govt that the priv comps have 2 share the burden.......
 
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