Monday, November 29, 1999

CNG-PNG hike harbinger of future hike of fuel prices: Naik

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Mumbai, June 17 (PTI) The 30 per cent rise in prices of CNG-PNG is a harbinger of a petrol and diesel hike in the near future, former Union Petroleum Minister Ram Naik said here today. The vicious circle of inflation will further accelerate because of this price hike, Naik said. The price rise clearly indicates that the UPA government is at war against the people, he added. "It reflects the utter failure of Prime Minister Manmohan Singh to evolve a consistent petroleum pricing policy," Naik said. The UPA government appointed three committees during the last six years, the first headed by the former Governor of the Reserve Bank of India, the second headed by the former Cabinet Secretary and the third presided by Kirit Parikh, he said. "Despite their reports, the government has not come out with a pricing policy for petroleum products. Continued adhocism is holding the ''aam admi'' to ransom," he said.

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