ANGALORE: Union petroleum minister M Veerappa Moily on Wednesday indicated the UPA government is working on a plan to reduce petrol prices but didn't specify the extent or the timing.
"We are planning for an additional import of 11 million tonnes from Iran and pay them in rupees. This will save us 8.47 billion dollars,'' he said.
Moily said the ministry also is considering reversing a decision that forced state transport utilities and other bulk consumers to pay market price for diesel and ruled out any plan to raise diesel prices for now. "We will positively consider allowing state fleets to purchase diesel at the subsidized price in view of the need to encourage public transport," he said.
"We are planning for an additional import of 11 million tonnes from Iran and pay them in rupees. This will save us 8.47 billion dollars,'' he said.
Moily said the ministry also is considering reversing a decision that forced state transport utilities and other bulk consumers to pay market price for diesel and ruled out any plan to raise diesel prices for now. "We will positively consider allowing state fleets to purchase diesel at the subsidized price in view of the need to encourage public transport," he said.
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