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Central government to withdraw the dual pricing system
Posted on: 24/Dec/2013 6:49:08 PM
In the dual pricing system, wholesale buying was charged at a higher price as compared to the retail selling. Dual pricing system for diesel was introduced recently by the government in order to compensate for the loss in revenue by commission for the dealers. It is understood that the government is planning to withdraw this dual pricing system.
Disinclined to buy diesel at a higher price, the wholesale purchasers chose to buy from the retail market for their requirements. This led to a steep decline in the wholesale diesel sales. The oil companies protested by saying the objective of the dual price system had failed. The petroleum Minister, Mr. Veerappa Moily, accepted the steep decline in wholesale diesel sales and had a meeting with senior officials. It appears that a decision is taken to withdraw the dual pricing system and this is expected to be announced in the New Year.
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