Latest News | Auto Industry Seeks Reduction in CNG Prices

New Delhi, May 22 (PTI) Auto industry body SIAM on Sunday sought reduction in CNG prices while welcoming the government's decision to lower the petrol and diesel prices.

Also Read | Salil Parekh Re-Appointed as CEO, MD of Infosys for 5 Years.

"Auto industry welcomes the Government's move to lower the prices of petrol and diesel. It will help ease the inflationary pressure and eventually help the common man," the industry body said on Twitter tagging Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman among others.

Also Read | Rajya Sabha Polls 2022: ‘Will Support Any Candidate Chosen by Shiv Sena’, Says NCP Chief Sharad Pawar.

The auto industry also keenly looks forward to similar support on the CNG prices which have seen exponential increase in the last seven months, the Society of Indian Automobile Manufacturers (SIAM) noted.

"Support for CNG prices would help the common man, facilitate public transport and will enable a cleaner environment," the industry body said.

Also reduction in import duties for raw material for steel and plastic products and increase in export duties on steel intermediates would hopefully moderate steel prices in the domestic market, SIAM said.

Sitharaman on Saturday announced a Rs 8 per litre cut in excise duty on petrol and Rs 6 a litre on diesel to avoid an increase in fuel prices that were necessitated due to surge in international oil prices.

The government has reduced taxes on petrol and diesel against the backdrop of inflation, the Finance Minister had stated.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)