Pic: Spoorthi Ullal
Daijiworld Media Network - Mangalore

Mangalore, Apr 28: A new, concrete policy on petroleum is the need of the hour if inflation has to be reigned in, said former union petroleum minister and senior BJP leader Ram Naik.

Addressing a press meet here on Thursday April 28, he said that rise in petrol prices was the root cause for inflation in other sectors. He blamed Prime Minister Manmohan Singh for not showing enough will and courage in charting out new policies and taking steps to control fuel prices.

The prime reason for the increase in the price of petroleum is the amount of tax levied on the crude oil that is imported, he said, adding that India's crude oil import forms about 70 percent of the requirement, which directly affects the economy. Nearly 50 percent of the crude oil price comprises taxes, and by adopting a policy wherein the tax rate is reduced, the prices can be brought in control and the problem of inflation too can be combatted, he opined.

He also attacked the government over the issue of LPG cylinders and said that the UPA government has failed to tackle the problem of black market that is affecting the supply of cylinders. Citing the case in Maharashtra wherein a deputy collector was burnt alive by the oil mafia, he said that adulteration of oil is a serious problem that has been neglected by the government.

Frequent change in the petroleum portfolio is an indication of the government's lack of political will in adopting changes, he added.

Among those present were MP Nalin Kumar Kateel and local BJP leaders Ramchandra Baikampady, Monappa Bandary and Shrikar Prabhu.