People's Democracy

CPI(M) Says No To Oil Price Hike

The Polit Bureau of the Communist Party of India (Marxist) issued the following statement on January 14, 2008

IT has been reported in a section of the media that the government has consulted the Left and got consent for hiking the prices of petroleum products.

The Polit Bureau of the CPI(M) denies any such consultation having taken place or giving its consent for such a hike. On the contrary, the CPI(M) has been consistently opposing any hike in the prices of petroleum products. It is estimated that the central government has collected Rs 40,000 crores more than the budget estimates through ad valorem taxes. If this amount were returned to the oil companies the necessity of increasing the prices of petroleum products would not arise.

The CPI(M) is strongly opposed to any hike in the prices of petroleum products. At a time when people are already suffering from the spiraling prices of essential commodities any hike in petroleum prices will further add to their burden.