The ministerial panel on fuels under finance minister Pranab Mukherjee deferred a decision on either allowing oilmarketing companies to set pump prices in tune with international trend or simply raise petrol and diesel prices to reduce losses of state-run companies, ostensibly because key members could not attend the meeting on Monday.
Railway minister Mamata Banerjee, agriculture minister Sharad Pawar, power minister Sushilkumar Shinde and transport minister Kamal Nath did not attend the meeting for one reason or the other. But oil ministry bureaucrats claimed there was a general consensus among remaining members on freeing up petrol from government control and moderating the increase in diesel prices to Rs 2 a litre instead of Rs 3.49 required under market pricing, indicated by TOI.Read more
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