CM to take up KG Basin pricing with PM

Hyderabad, July 10 (UNI) Chief Minister Y S Rajasekhara Reddy will discuss with Prime Minister Manmohan Singh for setting up of an autonomous market regulator for pricing of natural gas from the KG Basin during his visit to the state on July 31.

This was decided at a primary meeting, chaired by Dr Reddy, here today to review the issues to be taken up with the prime minister.

The meeting was informed that planning commission and the Power ministry had endorsed the chief minister's demand for the establishment of an autonomous market regulator as ''discovery of the market price'' will be to the advantage of the seller and to the disadvantage of the consumer.

It was also decided that Dr Singh would be apprised about state's views on the KG Basin gas price, an official release issued here said.

Power Secretary, in a presentation to the secretaries of the Government of India, justified Dr Reddy's demand for a market regulator to decide the gas prices issue, the chief minister was informed.

The chief minister has been repeatedly demanding establishment of an autonomous market regulator for pricing of natural gas. In his latest letter to the prime minister, he said the expert committee of the planning commission in its Integrated Energy Policy Report has supported the need for a market regulator for pricing of natural gas for the domestic market.

UNI