Indian Lorry-Drivers Threaten Nov Strike Over Oil Price Rise

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Indian Lorry-Drivers Threaten Nov Strike Over Oil Price Rise AFX News Limited

October 09, 2000

NEW DELHI (AFX-ASIA) - Lorry-drivers nationwide will take industrial action next month in protest at a recent increase in the prices of petroleum products, All India Motor Transport Congress Secretary General JM Saksena said.

"Truckers all over the country will go on an indefinite strike if the government fails to roll back the hike in diesel prices," Saksena said.

Saksena said the truckers' strike will begin Nov 3, added that the transporters will also observe a symbolic hunger strike tomorrow in all state capitals and major cities to press for a rollback in the prices.

The Congress claims to have around a million truckers on its rolls.

Meanwhile, Petroleum Minister Ram Naik said the government is planning steps such as floating bonds to cut down the oil deficit, currently around 236 bln rupees or 5.2 bln usd, by another 1.6 bln usd.

"We have kept our options open. We may issue bonds or resort to other short-term financial instruments such as loans with lower rates of interest to bridge the oil pool deficit," Naik told a news conference.

The minister also referred to a government target of April 2002 for the complete dismantling of massive subsidies and concessions which are currently offered to domestic consumers of petroleum products.

"The decision will be taken over the next six months depending on market fluctuations, liquidity requirements and the prevalent prices of international crude," Naik said.

The government on Sept 29 ordered an 18 pct increase in the prices of petrol, kerosene, cooking gas, diesel and aviation fuel.

http://denver.petroleumplace.com/egatecom/scream/2000/10/09/AAF/4780-1442-LAB.GOV.FIS.EAA.INA.OIL.TRN..html

-- Martin Thompson (mthom1927@aol.com), October 10, 2000


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