New Delhi, Nov 19 : President Pratibha Devisingh Patil on Wednesday released a special commemorative postage stamp on GAIL to mark the Silver Jubilee Year of the company.
Union Minister of Petroleum and Natural Gas Murli Deora, Minister of Communications and IT A. Raja, Minister of State for Petroleum and Natural Gas Dinsha Patel, Petroleum Secretary R.S. Pandey and CMD GAIL U.D. Choubey were present on the occasion along with other senior officers of the Petroleum Ministry and GAIL. peaking on the occasion, Deora commended GAIL for its significant contribution to the national economy since formation in 1984 by supplying natural gas through its pipeline network of over 6,700 kilometre for power sector, fertilizer plants, CNG vehicle.
Recalling the faith reposed by Indira Gandhi in our PSUs, Deora underlined that all of us are reaping the fruits of seeds sown by her. He described oil PSUs as symbols of commanding heights achieved by them not only through their presence all over India but also in their footprints around the world.
The Minister reminded that GAIL enabled the use of natural gas as a new energy resource in the country, which was earlier being flared in the offshore fields of Bombay High.
He, further, pointed out that GAIL has the distinction of pioneering the clean fuel revolution for transport sector with the introduction of CNG in Delhi and Mumbai.
Deora informed that GAIL has reflected 79 per cent growth in net profits in the last quarter at a juncture when global economies are facing slow down. "This is highest amongst all the companies in India as well as worldwide", he added.
Raja also complimented GAIL for its important contribution to the development of the country while stating that the release of postage stamp is a rare honour to a corporate entity.
In his address Patel appreciated GAIL for its role in the development of natural gas sector in India.
Dr. Choubey said, "It's indeed and an honour for GAIL to have received the recognition by the Postal Department. The occasion was a historical event for the whole GAIL family. He further reiterated his commitment to take the company forward and to make it a Rs. 50000 crore entity in the next two years."