CPM suggests 6 steps to Govt to control inflation

New Delhi, Jan 20: Expressing serious concern over rising rate of inflation, which has soared to two years high of 6.2 per cent, the CPI(M) today asked the government to initiate six steps including immediate ban on forward trading and reduction in prices of petroleum prodcuts.

The Left party also called for revising the ad valorem duty structure on oil imports, cracking down on hoarding, strengthening of government intervention in procurement and distribution of essential commodities and reversing the dilution of the Essential Commodities Act.

''All these steps will go a long way in checking the inflationary pressures that have built up,'' the CPI(M) Polit Bureau said in a statement here.

The Left party said the increase in the over-all inflation rate was driven by spiriling prices of primary articles, mainly food items.

On increase in prices of fuel and some manufacturing inputs like metals and cement had also contributed to the inflationry trend, it said.

The poorer sections were being particularly hit becuase of rise in prices of pulses, vegetables and cereals, the Left party added.

UNI