newbusinessage/Voices/1724 Auto Oil Pricing Mechanism The hostility of the oil price hyping continues to threaten the economic social development rights of the people. This tends to effect more to the 80 per cent of the working class, middle class, and the people living below the threshold level least effecting the 20 per cent of the elite who continue to consume almost 60 per cent of the national income. This augmentation on oil price is not only effecting the oil consumer but has even devastating effect on the poor when the price of all other basic necessities hype to a greater level but there is no shift in the income level of the 80 per cent even if there is least possibility. Saroj Pandey, Former president, Nepal Petroleum Dealers’ Association (NPDA)Saroj Pandey Former president, Nepal Petroleum Dealers’ Association (NPDA) One of the major reasons behind the oil pricing mechanism is the oil politics, the bigger picture lies behind the veil that is reluctance of both political parties and the National Oil Corporation (NOC). The NOC being one of the biggest pitch for corruption, this extreme incompetence of the two sides is leading the country towards black hole of economic detriment. The reluctance can be seen, after facing so many oil crisis and dispute. The NOC has not been able to set any petroleum regulatory mechanism nor does the government have it been able to bring any sort of law and act regarding petroleum distribution and regulation. This incompetence of the government and the NOC is leading frustration among the people and also among private investors. This mismanagement of corporation and constant oppression to the people will have to come to an end. If they cannot run the country and the corporation they will have to raise their hands to surrender the oil pricing mechanism to the market forces. There I suggest the Government to wash their hands off the dirty politics and the private investor to maintain their ethics and give justice to this crisis. Deepak Subedi,Spokesperson, Ministry of Commerce and Supplies Deepak Subedi Spokesperson, Ministry of Commerce and Supplies The budget has clearly decided to take on the auto pricing mechanism and the government is slowly moving toward the required policy formation to adopt the system, it is a gradual process because if the prices are abruptly left on the auto mechanism there would be rapid growth of inflation which could make the situation even more chaotic. Looking at the past, the previous governments had constantly tried to raise the price of the oil, which led to protest. Then the government was forced to revoke those decisions immediately. But this government seems committed and is looking for a long term solution .Because of the over hiking debts this government has decided cut subsides.
Posted on: Fri, 06 Sep 2013 06:57:48 +0000
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