New Delhi: Communist Party of India – Marxist (CPM) on August 5 demanded resignation of Petroleum Minister Ram Naik over the petrol pump "scam" and cancellation of all dealerships sanctioned by him saying it was "nothing but institutionalised corruption and racketeering".

"The fact that over 3,850 allotments of petrol pumps and gas agencies have gone to the Bhratiya Janata Party (BJP) leaders, workers and their family members constitutes nothing but institutionalised corruption and racketeering", the Party Polit Bureau (PPB)said in a statement here.

"The BJP-led government has far surpassed the scam perpetrated by Capt Satish Sharma under the Congress regime," the party said, adding that the "huge scandal" had "shocked even those who were aware of the large-scale corruption patronised by the Vajpayee government".

Demanding resignation of Naik, it said all dealership sanctioned through his "nepotistic arrangement" should be cancelled and a high-level enquiry instituted and cases registered to bring to book "all those responsible for this loot of public funds".

PTI