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| Saturday, 6 March 2004 |
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Though the prices of petroleum rapidly rose in the world market during the past few months, the Government did not pass the burden of the increase to the consumer. The corresponding additional cost of Rs. 1240 million per month was borne by the Government as a concession to the people, states a media release by the Government Spokesman's Office yesterday. The release stated: "According to the price hike a litre of petrol must be sold at Rs.64.24 but the selling price remains at Rs.57.00 per litre. In the same way diesel which should be sold at Rs. 41.14 per litre is now being sold at Rs.32.00 and kerosene which costs Rs.32.23 is sold at Rs.25.50. In addition the Government is subsidizing the gas prices at the rate Rs.60.00 per cylinder spending a sum of R.70 million per month. "The absence of war and the rapid economic growth enabled the Government to afford these concessions to the people through proper economic management which in turn gave the Treasury the strength to sustain the petroleum price hike without causing inflation." |
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