Business Daily from THE HINDU group of publications
Monday, Jun 09, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Monday, Jun 09, 2008 ePaper | Mobile/PDA Version | Audio |
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Logistics
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Roadways Fuel price hike opposed The transport sector is unhappy with the recent hike in the prices of petroleum products. Though the price of brent crude is cited to justify the price increase, the Maharashtra Rajya truck Tempo Tankers Bus Vahatuk Mahasangh feels that the country’s crude basket comprises a wide variety of crude and the average cost of all varieties taken together, it is estimated, is lower than the cost of brent. After all, the duties slapped on crude and petroleum products are ad valorem; which means as and when the price and the volume of import increase, the Government’s coffers also swell. Mahasangh wonders why the ad valorem duty should not be replaced by specific duty. The under recoveries of the oil companies, mostly Government-owned, it is argued, are notional losses. After all, the loss suffered by a few PSUs are more than compensated by the earnings from the other profit-making PSUs.OUR BUREAU More Stories on : Roadways | Petroleum
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