Thiruvananthapuram: Union Minister of Petroleum and Natural Gas M Veerappa Moily today made it clear that there would be no return to Administrative Price Mechanism for petroleum products as the country has gone far ahead in the deregulation price policy.
“The country has gone far ahead in the deregulation price policy of petroleum products and there is no question of going back to administrative prices,” he told reporters here.
The minister said the petroleum sector depends mostly on imports (75 per cent), which is directly linked to dollar prices. A small devaluation in the rupee would have a serious affect on petroleum products, he pointed out.
Moily said India has to explore and increase oil production. But petroleum companies have no funds to undertake exploration and through price decontrol this crunch can be reduced, he said.
On reintroducing the concessional rate for bulk petroleum consumers like Kerala State Road Transport Corporation, Moily said that the Centre would consider the demand raised by states like Kerala.
On the controversial K Kasthurirangan panel report on Western Ghats preservation, Moily said there was no room for panic over it. States and people with grievances have time to give their responses only after which the report would be finalised, he said.
Moily said Kerala has a 100 per cent success record in implementing the National Rural Employment Guarantee Scheme, adding the state is far ahead in putting into practice the e-governance programme.
Kerala's slogan of ‘Development with Care' is a role model for other states, he added.
Moily, who was in Kerala to review the Congress manifesto implementation committee, said the party led UDF government in the state is a role model for implementing development schemes of the Centre.
Mukul Wasnik, AICC General Secretary in charge of Kerala affairs, was also present.
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