Insta
Petroleum Ministry Sets Up Panel To Explore The Possibility Of Allowing Private Players To Sell Subsidised LPG
LPG cylinders (Krish Dulal/Wikimedia Commons)
The Government of India has set up an expert panel, including former petroleum secretary GC Chaturvedi, to consider allowing private firms to sell subsidised cooking gas in India, reports Economic Times.
It has been a long pending demand of private companies like Reliance Industries because in the present day scenario the public sector firms dominate the market empowered with a lot of subsidies.
It should be noted that Reliance Industries, which owns and operates the world's biggest refinery at Jamnagar, Gujarat, is a big producer of LPG in India and has been lobbying for years for private players being allowed to distribute subsidised cylinders.
The expert panel constituted by the petroleum ministry also includes notable economist Kirit Parikh, former Indian Oil chairman MA Pathan, IIM Ahmedabad director Errol D'souza and a joint secretary from the ministry. The committee has to submit its report by the July-end.
India has become the world's second largest consumer of LPG with the annual consumption for the FY19 reaching 24.9 million metric tonnes. Of this value, nearly half was imported while the rest was produced domestically in India.
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