Saturday, 15 September 2012

UPA loss theory on fuel gigantic fraud: Left

UPA loss theory on fuel gigantic fraud: Left
Clean  media correspondent

New Delhi, Sept 14 (CMC) Describing the hike in diesel price as a “gigantic fraud” on people, the Left parties have demanded its immediate rollback and abolition of the stipulated quota system in LPG.

The CPI(M) Politburo in a statement said agricultural sector and farmers will particularly suffer due to the decision of hiking diesel prices while limiting of cooking gas cylinders will adversely impact the livelihood condition of crores of families across the country.

It alleged that the Government’s reasoning that such hikes are inevitable because of the burgeoning losses of oil companies is a “patent falsehood.”

The CPI(M) pointed out that ONGC declared a net profit of Rs 25,123 crore for the year 2011-12 and for the next quarter ending June 30, 2012, it has reported a further growth in profit of 48.4 per cent.

“The IOC has reported a net profit of Rs 4,265.27 crore for 2011-12. The Hindustan Petroleum Corporation Ltd (HPCL) reported a net profit of Rs 911 crores. Interestingly, for the last quarter of the fiscal, January-March 2012, its net profit increased by 312 per cent. The Bharat Petroleum has reported a net profit of Rs 1,546.68 crore,” said the CPI(M), analysing the huge profit of oil companies and doubting the rationale of steep increase.

Emphasising that the UPA  Government was committing a gigantic fraud on the people,   the CPI(M) asked all its units to organise strong protest across the country.

“The CPI(M) calls upon all secular Opposition forces to unite in protests to force the UPA-II Government to roll back this unreasonable hike in the prices of diesel and limiting cooking gas cylinders,” it added.

CPI general secretary S Sudhkar Reddy condemned the steep hike of the diesel prices and LPG prices, urging people to protest throughout the country.

“This hike will have bearing on prices rise of all essential commodities, foodgrains, and public transport and make the life of the people more miserable. As they did in petrol, excise tax should reduce on diesel also to roll back the increased prices on diesel. The CPI also condemns the limiting the supply of cooking gas to six cylinders in a year and increasing the price of cylinders of hundred per cent on every extra cylinder. This reflects the insensitiveness of the Government to the problems of the people,” said Reddy in statement.

Urging for a nationwide protest by all trade unions, the CITU said this step shows the insensitiveness of the UPA Government toward the life of people. “The reasons attributed to the increase are a fraud on the people of the country. All the oil companies, both public and private, have reported huge incremental profits. The claims of losses and so called huge ‘under-recoveries’ and resultant financial crisis are based on imaginary false calculations which have been totally exposed by CITU with facts and figures in the past,” said CITU president AK Padmanabhan in statement.

“CITU calls upon all the trade unions and workers to unitedly protest against this flagrant class offensive of the Government and conduct mass agitation demanding withdrawal of the price increase of diesel and removal of the imposition of the limit on subsidised  cooking gas cylinders,” he added.

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