Committee submits report on new gas pricing policy: Report

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A four-member committee of secretaries, set up by the government of India, has submitted its report on a new gas pricing mechanism, as per PTI report.

The panel, which comprises secretaries of power, fertilizer and expenditure with additional secretary in the oil ministry as its member secretary, in its report has prescribing a rate much lower than the doubling of price approved by the previous UPA Government, PTI reported.

Last month, the government had formed the committee to hold extensive consultations with stakeholders, primarily gas consumers and producers, to make amends to a formula notified in January that doubled the gas price to USD 8.4 per million British thermal unit.

According to PTI report, the report will be reviewed in the Oil Ministry before a note is moved to the Cabinet.

Story first published: Wednesday, September 17, 2014, 23:00 [IST]
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