Doubling gas rates will burden people: Sen writes to PM
24/06/2014 18:00
As the government appeared close to a decision on hiking natural gas prices, CPI(M) leader and MP Tapan Sen has written to Prime Minister Narendra Modi, seeking a review of the pricing formula, saying doubling of rates will lead to a phenomenal burden on the people, reported PTI. Sen, a known opponent of higher gas prices, said the Rangarajan formula, which is being made the basis for revising the rates, should be reviewed as recommended by a parliamentary standing committee, as per the media reports. The new government is close to revising gas prices and the new rates may be announced as early as this week. The panel, headed by Bharatiya Janata Party leader Yashwant Sinha, had recommended "factoring domestic cost of production of gas for arriving at the price," the Communist Party of India (Marxist) MP said, adding that it had also suggested fixing the gas price in rupees and not dollars, as is the current practice, as per the media reports. According to media reports, The Rangarajan formula calls for pricing gas at the average cost of importing liquefied natural gas into India and the rates prevailing at international hubs in the US and UK, as well as the price of gas imported into Japan.
24/06/2014 18:00
As the government appeared close to a decision on hiking natural gas prices, CPI(M) leader and MP Tapan Sen has written to Prime Minister Narendra Modi, seeking a review of the pricing formula, saying doubling of rates will lead to a phenomenal burden on the people, reported PTI. Sen, a known opponent of higher gas prices, said the Rangarajan formula, which is being made the basis for revising the rates, should be reviewed as recommended by a parliamentary standing committee, as per the media reports. The new government is close to revising gas prices and the new rates may be announced as early as this week. The panel, headed by Bharatiya Janata Party leader Yashwant Sinha, had recommended "factoring domestic cost of production of gas for arriving at the price," the Communist Party of India (Marxist) MP said, adding that it had also suggested fixing the gas price in rupees and not dollars, as is the current practice, as per the media reports. According to media reports, The Rangarajan formula calls for pricing gas at the average cost of importing liquefied natural gas into India and the rates prevailing at international hubs in the US and UK, as well as the price of gas imported into Japan.
