'Cut in oil prices only after crude prices drop'

On board PM's aircraft, Nov 11: Prime Minister Manmohan Singh on Monday, Nov 10 ruled out any immediate possibility of reduction in prices of petrol and diesel.

Talking to reporters on board special aircraft during his return from Gulf countries, Dr Singh said, ''we can assure the possibility (of reduction in prices) only when the crude oil prices in the international market further comes down.'' He said Indian oil companies are bearing a heavy burden and they should be able to sustain on their own. The government is still heavily subsiding the kerosene and gas prices, Dr Singh said.

To a question whether the government is acting under pressure from the airlines companies to reduce the ATF, he said there will be problem of unemployment if the airlines close down.

''We don't want any unemployment problem in the airlines companies. They have to sustain themselves and there should not be any unemployment problem also,'' he said.

UNI