Moily rejects any review of gas price hike

Jul 12, 2013 |

Age Correspondent

Dismissing the finance ministry’s suggestion that it look at the possibility of putting a cap on the extent to which natural gas prices could be hiked under a new pricing formula, petroleum minister M. Veerappa Moily said on Thursday that the government was not contemplating any change in its decision to nearly double the price of natural gas produced domestically.

“There is no thinking of any review or reconsideration of the CCEA’s decision. No confusion, no vagueness,” said Mr Moily. This came a day after it was revealed that the finance ministry had written to the oil ministry on July 4 in this regard.

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