'Panel to meet tomorrow on fuel pricing'

A panel of ministers will meet tomorrow to discuss raising prices of subsidised fuels, an oil ministry source and another government source said today.

A panel of ministers will meet on Friday to discuss raising prices of subsidised fuels, an oil ministry source and another government source said on Thursday.

HT Image

Last June, the government allowed state-run oil firms to fix the price of petrol but continued to control the prices of diesel, kerosene and cooking gas to protect the poor and try to tame stubbornly high inflation.

"Oil ministry is seeking duty adjustment along with price increase. It also wants higher cash subsidy (for the firms) from the finance ministry. All three are required otherwise it will be difficult for oil companies to maintain supplies," said an official, who did not wish to be identified.