Petroleum secretary S C Tripathi on Tuesday said the government would adhere to the March 2007 deadline for phasing out subsidy on kerosene and LPG.
The policy and quantum of subsidy provided in the Budget had not changed but the government would issue bonds to overcome the under-recoveries faced by the public sector oil marketing firms, he added.
He was talking to the media at the 18th World Petroleum Congress in Johannesburg on Tuesday. Asked if the new system of burden sharing would be continued next year, he said the bonds would not be issued every year.
An India-African conclave would be held in India in April next year in collaboration CII.
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