'Panel to decide guidelines for gas price fixation'

New Delhi, Dec 5: Petroleum and Natural Gas Minister Murli Deora today told the Rajya Sabha that a committee had been set up to formulate transparent guidelines for approving gas price formula/basis for granting government approval under the production sharing contracts (PSCs) to compute the cost of petroleum and royalties.

Speaking during Question Hour, Mr Deora said the body being a departmental one, did not include members of other Ministries.

''However, the Committee has sought the views of various stakeholders under different sectoral industries/users and taken their views into consideration while finalising its recommendations.'' As Telugu Desam party leader C Ramachandriah raised the issue of GAIL's levy of transportations and other differential costs which had a 3 per cent escalation in costs annually, the Minister assured that he would look into the matter.

UNI