Thiruvananthapuram: The Kerala Infrastructure Investment Fund Council (Kiifb) has stated that this organization truly loses income when the price of gasoline and diesel rises.
Responding to a story published by TOI on Monday, KIIFB stated that the organization did not support the increase in gasoline and diesel prices because the CESS was determined at Re 1 per liter in the country, and not as a percentage of gasoline and diesel prices.
So, when prices rise, people will rationalize the use of gasoline and diesel, effectively reducing use and thus Kiifb also loses its income.
Furthermore, it states that the Kiifb will be affected in harmony with the income from motorized vehicle tax as well, which is the second source of income for the organization.
When the price of fuel rises, people will delay the purchase of vehicles, which in turn will have a negative impact on motor vehicle tax.
The next statement said that the article title that “The increase in fuel prices: Public loss, Kiifb’s profit” misleading that the benefits of Kiifb at the expense of consumers who were shaken in the increase in fuel prices that had never happened before.
TNN.