Anil Ambani seeks prudent cost competitive energy policy

Mumbai, Sep 23 (UNI) Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani today called for a ''prudent and cost-competitive energy sector policy'' to check inflationary pressures and sustain growth of key gas dependent sectors such as power and fertilisers.

Addresseing the shareholders of the Reliance Natural Resources Ltd (RNRL) here, he said such a policy at the current juncture was critical to sustaining the present momentum of growth in the economy.

''One of the critical elements in India's infrastructure bottleneck has been the deficit of energy. Keeping the engine of India's growth running at the current or higher levels requires us to substantially raise our supply of affordable energy'' he said while stressing for a ''prudent and cost competitive energy sector policy''.

Mr Ambani dwelt at length on the ongoing court tussle between him and his brother, Mukesh Ambani-led Reliance Industries Corporation (RIL) over sharing of natural gas from the Krishna Godavari basin deep water well KG-D6, which went on stream from September 17.

He said ''India imports more than 70 per cent of its oil requirement, to step up the domestic production of a wider basket of energy resources, especially natural gas, where there have been significant finds of late''.

UNI VK OBB MP RN1917