Bill on APM in Budget session: Naik

haldia: union minister for petroleum and natural gas ram naik said on wednesday a bill providing for dismantling of the administered price mechanism (apm) for petroleum products would be introduced in the budget session of parliament. "all preparations regarding dismantling of apm are now in last phase of completion. a bill which was drafted, would now be sent to the law ministry for vetting.it would be sent to the union cabinet for approval and subsequently introduced in the first part of the budget session," naik told reporters here. the minister, however, said that even after dismantling of apm from april 1 this year subsidy on kerosene and lpg would continue. the subsidy on kerosene would be brought down from present 37 per cent to 33 per cent. similarly, domestic lpg would continue to enjoy 15 per cent subsidy. the current subsidy of rs 95 per lpg cylinder would be adjusted over the next three to five years, he said. the price of aviation turbine fuel was already decontrolled from april one, 2001.