AP Council adopts resolution on KG - basin reserves, Gas pricing

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Hyderabad, Nov 20 (UNI) The Andhra Pradesh Legislative Council today adopted a unanimous resolution, appealing the Centre to protect the interests of State in regard to the gas reserves in Krishna Godavari basin.

Moving the resolution in the House, State Finance and Legislative Affairs Minister K Rosaiah said the people of the State have high expectations on the gas reserves as they can significantly contribute to the all-round development of the State.

Urging the Centre to allocate 50 per cent of the profit gas that they receive from the KG - basin to the State free of cost, Mr Rosaiah said the remaining part of the profits should be utilised in the state Administered Price Mechanism (APM) prices for Industrial development of the state.

Appealing the Centre to have a re-look at the gas pricing formula, keeping in mind the affordability factor of each of the sectors, the Minister said the Government was urging the Centre to allow differential pricing policy to different sectors. Gas prices for fertilizers and power sectors may be fixed at substantially lower prices.

The resolution said before allocating the gas for the projects outside the State, the Centre must allocate gas for catering to City Gas distribution.

UNI

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