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New Delhi, March 26 The Petroleum Ministry has said that the decision by private sector oil retailer Reliance Industries Ltd, to close its petrol stations over denial of subsidy on par with public sector retail companies, could be a cause of concern.

While stating that no one has approached him demanding subsidy, the Petroleum Minister, Mr Murli Deora, on Wednesday said that dealing with the situation was not easy.

“You don’t expect the Government to give subsidy to private retailers like Reliance and Essar. But you also cannot expect them to be penalised,” he told presspersons here.

“It’s a big problem,” Mr Deora said, indicating that the Government had no ready solution to deal with the situation.

Reliance plans to shut two-third of its 1,400 petrol pumps in the country by next month as it is unable to match the fuel price offered by public sector oil retailers, who get compensated by the Government for selling fuel below the cost.

Earlier, Mr Deora in his meeting with Mr Miguel Jorge, Brazilian Minister for Development, Industry and Foreign Trade, emphasised the need for India and Brazil to further enhance cooperation between the two countries, specially in the oil and gas sector.

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