The Hindu Business Line : Chidambaram meets PM on petro pricing — `Package likely to be ready by June 15'

THE Government is still in the throes of inter-ministerial consultations on the proposed package to insulate the consumers from global oil price shocks.

During the day, the Petroleum Minister, Mr Mani Shankar Aiyar, said that he was awaiting the response of the Finance Minister, Mr P. Chidambaram, on his Ministry's proposal on the package.

"The Finance Ministry is still working on the figures that we had submitted to them. It is only when it has a look at the fiscal component that we will be able to go to the Prime Minister," he told newspersons here today.

Mr Aiyar had earlier said that along with Mr Chidambaram, he would be meeting the Prime Minister, Dr Manmohan Singh today.

However, Mr Aiyar is yet to meet the Prime Minister.

Queried on the proposed meeting with the Prime Minister, Mr Aiyar said, "To the best of my knowledge, the meeting has not been scheduled yet."

Interestingly, Mr Chidambaram, today discussed the issue of petro-product pricing with the Prime Minister.

The Petroleum Secretary, Mr B.K. Chaturvedi, also attended the meeting.

Neither Mr Chidambaram nor Mr Chaturvedi commented on the deliberations.

However, sources pointed out that the issue of reduction of duty on petro-products was discussed.

The Government is confident of announcing the package on its earlier committed date of June 15.