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| PARLIAMENT
QUESTIONS AND ANSWERS ON PETROLEUM SECTOR |
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GOVERNMENT OF INDIA
MINISTRY OF PETROLEUM AND NATURAL GAS
LOK SABHA
UNSTARRED QUESTION NO 1257
TO BE
ANSWERED ON 03.08.2006
PRICING MODEL OF PETROLEUM
PRODUCTS
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SHRI BASUDEB ACHARIA
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Will the Minister of PETROLEUM
AND NATURAL GAS be pleased to state:-
(a) whether the Government has decided to scrutinise
the details of pricing model adopted by the Oil
Marketing Companies as reported in the Financial
Express on July 5, 2006;
(b) if so, the facts thereof;
(c) whether the Rangarajan Committee has given its
recommendation on pricing of Petro-products; and
(d) if so, the reaction of the Government thereto ?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND
NATURAL GAS (SHRI DINSHA PATEL)
(a)to(d): Dr. Rangarajan Committee has submitted its
report to the Government on 17.2.2006. Government
has accepted the following recommendations of Dr.
Rangarajan Committee Report :
(i) Implementation of principle of trade parity with
reduction in customs duty on petrol & diesel
from 10% to 7.5%.
(ii) Permitting autonomous adjustment in prices of
sensitive petroleum products by Oil Marketing
Companies (OMCs) without prior consultation with the
Government once every month.
(iii) Restricting `in principle`, subsidy on PDS
Kerosene to BPL families only.
In the context of implementation of principle of
trade parity with reduction in customs duty on
petrol & diesel, it has been decided to form a
group comprising representative of Ministry of
Finance, Cost Accounts Branch along with Director,
Petroleum Planning & Analysis Cell (PPAC) to
examine price build-up of petrol and diesel.
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