Centre framing new oil import policy: Pradhan

A new oil import policy tailored to suit the changed economic scenario is being framed by the Centre and its draft will soon be placed before the Cabinet, Union Oil Minister Dharmendra Pradhan said today.

Talking to reporters here after taking part in a meeting of the Parliamentary Advisory Committee of the Petroleum Ministry, Pradhan said as the economic scenario has changed a lot since the last oil import policy about 10-12 years ago, and a new oil import policy is being laid down whose draft will soon be put before the Cabinet.

On benefits of falling crude prices in international market not reaching consumers, Pradhan said petrol prices have been lowered as many as 23 times while those of diesel reduced 17 times after global oil prices dropped in July last year.

"Thus 55 percent of the savings made by the government on account of fall in crude oil prices in the international market was returned to consumers only," the Minister said.

Around 42 percent out of the remaining 45 percent was given to the states under the 14th Finance Commission for development works weheras the remaining 3 percent is being spent on construction of basic infrastructure like roads, he said.

Noting that four oil producing countries had recently decided not to increase their oil productions, the Union Minister said it might affect crude oil prices once again for which people should be prepared.

Making a mention of only 60 percent of families in the country having LPG facility, Pradhan said efforts are underway to widen the ambit of LPG network and cover more and more families.

A total of Rs 28,000 crore has been credited straight into people's bank accounts by way of LPG subsidy till February 15, he said adding this had also helped in identifying 3 crore duplicate connections and stopping black marketeering of LPG.

Pradhan also appreciated people who voluntarily gave up their LPG subsidies at the Prime Minister's request and said the savings made on account of that had helped in giving LPG connections to 50,000 more families.

So far, 72 lakh people have given up LPG subsidies and the LPG network across the country will be strengthened in the next 2-3 years, he said.

Nearly, all MPs have voluntarily given up their LPG subsidies while many state assemblies too have initiated steps in that direction, Pradhan said.

Citing a WHO data, Pradhan said about five lakh women in the country die every year of ailments caused by prolonged use of domestic cooking fuel like firewood and dried up cattle dung.