CITU strongly denounces the Government decision to increase the price of APM gas produced by ONGC and OIL form 1.79 dollar/unit to 4.2 dollar/unit in line with price approved by the Government for KG Basin Gas, supplied by Reliance India Limited which had earlier backed out of its offer of 2.34 dollar/unit to M/s NTPC.
The Government’s decision to increase the gas price is not for the improvement of the financial health of the PSUs but only to ensure RIL’s market as the power and fertilizer producers were opting for the low priced gas from ONGC and OIL. In the process, the additional burden of Rs. 8,000 Cr. approx. will be now passed on to the consumers of power and fertilizer for example cost of power tariff of plants using APM gas is likely to increase by Rs. 1/- per unit.
The CITU deplores the Government’s insensitivity and apathy to the woes of the inflation hit common man of the country. CITU further demands total review and scrutiny of Government’s gas pricing policy through CAG and Parliamentary Committees to expose the Government’s blatant misuse of executive power to foster one corporate group or other, at the cost of national interest.
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