New Delhi: In a relief to the troubled Kerala State Road Transport Corporation (KSRTC), the Ministry of Petroleum and Natural Gas will ask the Union Cabinet to revoke its dual pricing policy for diesel for State Transport Undertaking (STUs) and other large scale consumers. The Ministry allegedly has decided to seek a policy revision under pressure from the oil marketing companies and State Governments.
Meanwhile, the Ministry said that the decision was taken after realising that the dual pricing of diesel was causing big losses to the oil companies. The Central Government had earlier taken off the diesel subsidy given to STUs and industrial units, which hit loss-making STUs like the KSRTC badly.
A shortage of diesel triggered by this policy revision had forced the KSRTC to cancel some of its essential services. This crisis was, however, checked from worsening when Kerala State Civil Supplies Corporation (Supplyco) started providing diesel to the state carrier from their petrol pumps.
Kerala's request to resume the diesel subsidy given to STUs was denied out rightly by Union Finance Minister P. Chidambaram. Union Petroleum Minister M Veerappa Moily, who was more considerate, took points from the case presented by the State and decided to approach the Union Cabinet.
Meanwhile, the Ministry said that the decision was taken after realising that the dual pricing of diesel was causing big losses to the oil companies. The Central Government had earlier taken off the diesel subsidy given to STUs and industrial units, which hit loss-making STUs like the KSRTC badly.
A shortage of diesel triggered by this policy revision had forced the KSRTC to cancel some of its essential services. This crisis was, however, checked from worsening when Kerala State Civil Supplies Corporation (Supplyco) started providing diesel to the state carrier from their petrol pumps.
Kerala's request to resume the diesel subsidy given to STUs was denied out rightly by Union Finance Minister P. Chidambaram. Union Petroleum Minister M Veerappa Moily, who was more considerate, took points from the case presented by the State and decided to approach the Union Cabinet.
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