Moily, who over the weekend had indicated that austerity measures, including a night curfew at petrol pumps, are being considered, said his ministry is planning to launch a massive conservation drive from September 16 to cut oil imports.
"We have already made it very clear it is not our idea. It is an idea which is coming from public and others. We have not accepted those suggestions. There is no proposal before us to close down petrol pumps from 8 pm in the evening to 8 am," he told reporters here.
"No decision will be taken to keep petrol pumps dry in any part of the country," he said.
Asked if he had done a u-turn because the proposal was widely criticised, he said, "When we have not conceived any such proposal, there is no question of backtracking."
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Opposition parties had poured scorn on the proposal, saying it was tantamount to imposing economic emergency.
Shutting petrol pumps at night was an idea mooted ahead of the ministry's plan to launch the massive fuel conservation drive to cut fuel demand by 3 per cent and save an estimated Rs 16,000 crore or USD 2.5 billion in forex outgo.
Moily said he wants to make the people aware that the country imports 80 per cent of its oil needs and fuel should be conserved because the country cannot afford to keep shelling out USD 170 billion year after year.