The AIADMK manifesto for Lok Sabha elections, released on Tuesday, promised to review the hike in natural gas price paid to extractors.
“The price of natural gas is being determined on the basis of the global market price in US dollar terms. The price paid to the developers and extractors of natural gas has been doubled by the Centre with effect from April 1, 2014. This price increase will be reviewed,” the manifesto said.
On the petrol, diesel and natural gas pricing policy, the manifesto said, “if the price of petrol and diesel is determined based on the cost of production of crude oil within the country, the actual import price of imported crude oil and the cost of refining the crude oil, then it would be a fair pricing mechanism. This will ensure that the prices of essential commodities are kept under control.”
The manifesto promised that the AIADMK would take steps to change the mechanism of determining the prices of petrol and diesel and would also withdraw the authority given to the oil marketing companies to determine the prices of fuels.
“Action will be taken to determine the direct two-way exchange rate between the currency of different countries and the Indian rupee. A separate fund will be established to insulate and hedge the impact of variations of exchange rate on the price of petroleum products and thereby protect the common public from adverse price shocks,” the manifesto added.
The AIADMK promised that action would be taken to maintain the price of petrol, diesel and domestic LPG at the same level throughout the year.