Financial Daily from THE HINDU group of publications
Tuesday, Dec 21, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 21, 2004 |
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Opinion
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Letters Petroleum prices
The Government's decision not to reduce the prices of petrol and diesel, in spite of the steep fall in the international price, is surprising. Obviously, this gives the impression that the Government has only a narrow trading outlook where it wants to make money to the extent possible without worrying about the problems of the consumers. The hike in the prices of petrol and diesel has the effect of destabilising the operations of several industries and other service sectors such as transport. The hike in price of the petroleum products is forcing industries to raise the prices of finished products as, otherwise, they would find their margins severely curtailed The Government has failed to evolve a pragmatic policy to tackle the outcome of the frequent increase or fall in the international price of crude oil. It can offer stable prices to the consumer by creating a buffer when the price is low. It should certainly be obvious to the Government that subjecting industries and consumers to such frequent price changes and not immediately transferring to them the advantages of a fall in the international price is bad economic policy. N. S. Venkataraman Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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