Corporate Results of over 2500 companies Saturday, October 23, 1999
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Elections 99
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Vajpayee defends diesel price hike; rules out roll back 

Devsagar Singh  
New Delhi, Oct 22: Prime Minister Atal Behari Vajpayee on Friday defended the hike in diesel price saying there was no alternative to it. He also made it clear that there was no proposal to roll back the price.

Addressing members of the BJP parliamentary party here, Vajpayee said it was a painful decision on the part of the government to increase the diesel price, but it was done in the interest of the nation. The government was forced to take hard decisions at times, he added.

While justifying the diesel price hike, however, the Prime Minister appealed to members of his party to explain to the people the reasons for doing so. He said if the people were taken into confidence and the rationale behind the price hike explained to them, the situation would normalise in the course of time.

The Prime Minister took the opportunity to respond to a large number of anxious queries both from his partymen and outsiders on the issue of diesel price hike.

Vajpayee fielded petroleum minister Ram Naik to give a detailed explanation on the hike in the price of diesel. Naik, on his part, told party MPs that the price-hike had become imperative in view of the mounting oil pool deficit. According to the petroleum minister, the oil pool deficit had already touched Rs 4,000 crore and if no step was taken to check it, the same would have mounted to a staggering and unmanageable level of Rs 10,000 crore. In the long run, this situation would have created havoc for the country's economy, Naik told the BJP parliamentary party meeting.

Later party spokesman Venkiah Naidu told newspersons that the party MPs got a detailed briefing on the issue. He said the Prime Minister told the meeting that his government was committed to fulfil the promises made to the people who had given it full mandate.

Home minister LK Advani in his brief remark asked members to take their parliamentary work seriously by remaining active and vigilant.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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