'Tax withdrawal issue of NELP VII to be resolved'

New Delhi, Apr 14: Petroleum and Natural Gas Minister Murli Deora today said the issue of tax holiday withdrawal for upcoming refineries, after March next year, will be resolved soon through talks.

''We have talked about the issue with the Prime Minister and also took the matter with the Finance Ministry,'' he told reporters on the sidelines of Fifth Asia Gas Partnership Summit here. The issue will be discussed with the Finance Minister P Chidambaram, once he is back from his Washington visit, he said. Media had reported that that due to muted response of the Finance Ministry on the issue, the Ministry was even contemplating withdrawal of NELP-VII lest it faces a huge embarrassment.

It said after the withdrawal of the tax holiday clause in the Union Budget, the NELP-VII, which had received tremendous response during the roadshows in various countries, had been badly affected.

The NELP-VII will close on April 25.

UNI