New Delhi, February 14: Facing opposition from key allies in the UPA Government, Finance Minister Pranab Mukherjee and Oil Minister Murli Deora today discussed an “all-acceptable” hike in fuel prices but it appeared the two failed to reach a consensus and the fuel price hike may not happen immediately.
“No decision has been taken,” Deora told reporters after an hour-long meeting.
PSU retailers are projected to lose Rs 45,571 crore on selling petrol, diesel, domestic LPG and kerosene below cost.
To avert bankruptcy, the Kirit Parikh panel has suggested freeing auto fuels from government control along with a steep hike in cooking fuel.
Last week, Deora’s ministry did not take the proposal to free petrol prices, along with hikes in diesel, cooking gas and kerosene rates, to the Cabinet because of opposition from the Trinamool Congress and the DMK.
–PTI