Even production costs fall down; producers are not keen to cut down the costs. They cite the backlog and recovering the past balances from the current crisis situation. From oil companies to airlines to potato seller, still high costs are maintained. The recession and economic dead slowdown does not matter for the capitalist costs. They pretend to be bankrupt despite counting more cash and laughing all the way to more start ups. It is the biggest joke on the part of Kingfisher King Vijay Mallaya to give undated cheque for Rs.50 crore to the aviation ministry as backlog payment. If he had gone bust even without this tiny amount the story is sad. At the end of the day he had proved that all the hype about his high caliber business acumen is empty.
Why the public and private oil companies keep the fuel rate still the sky high of Rs.53 per litre petrol when the crude oil price is down to the rock bottom level of $56 per barrel? Are they waiting for the artificial crisis to be triggered by the OPEC in December 17 revisions by cutting down the production?
This reminds us the old capitalist greed theory. It is high time for the owner class to disprove that all time they are after money. In order to cool off the heals of the ordinary consumers they should step forward to cut prices of essential goods.
In this sense petty traders are better off. They cut off prices immediately when they hear the external lowering of essential items. Higher level needs to learn from their lower peers.
Addressing corporate honchos and business leaders at the India Economic Summit here by the World Economic Forum and the Confederation of Indian Industry, Mr. Chidambaram said: “Hotels must cut tariffs, airlines must cut prices; real estate must cut rates of apartments and homes they sell; car makers and two-wheeler makers must cut prices. Any sector faces problems; I am open to examining suggestions on cut in excise duty rates.”
One needs to wait to watch the capitalist class acting on the much needed exercise on the price cut.
Why the public and private oil companies keep the fuel rate still the sky high of Rs.53 per litre petrol when the crude oil price is down to the rock bottom level of $56 per barrel? Are they waiting for the artificial crisis to be triggered by the OPEC in December 17 revisions by cutting down the production?
This reminds us the old capitalist greed theory. It is high time for the owner class to disprove that all time they are after money. In order to cool off the heals of the ordinary consumers they should step forward to cut prices of essential goods.
In this sense petty traders are better off. They cut off prices immediately when they hear the external lowering of essential items. Higher level needs to learn from their lower peers.
Addressing corporate honchos and business leaders at the India Economic Summit here by the World Economic Forum and the Confederation of Indian Industry, Mr. Chidambaram said: “Hotels must cut tariffs, airlines must cut prices; real estate must cut rates of apartments and homes they sell; car makers and two-wheeler makers must cut prices. Any sector faces problems; I am open to examining suggestions on cut in excise duty rates.”
One needs to wait to watch the capitalist class acting on the much needed exercise on the price cut.
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