President releases special postage stamp on GAIL

New Delhi, Nov 19 (UNI) President Pratibha Devisingh Patil today released a special commemorative postage stamp on GAIL to mark the Silver Jubilee Year of the company.

Petroleum Minister Murli Deora, Telecom Minister 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 at Rashtrapati Bhawan along with other senior officers of the Petroleum Ministry and GAIL.

Speaking on the occasion, Mr 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, fertiliser plants, CNG vehicle.

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 the company has the distinction of pioneering the clean fuel revolution for transport sector with the introduction of CNG in Delhi and Mumbai.

Mr Deora said 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.

Mr 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.

Dr U D Choubey, Chairman and Managing Director, GAIL said, ''It's indeed and an honour for GAIL to have received the recognition by the Postal Department.'' He further reiterated his commitment to take the company forward and to make it a Rs 50,000 crore entity in the next two years.

UNI SBA AK AS1709