The Empowered Group of Ministers (EGoM) is likely to meet today to try and find solutions for the gas starved power plants, reports CNBC-TV18’s Nayantara Rai. Nearly 25000 megawatts of power is stranded in the country on account of a shortage in domestic gas. The proposal before the EGoM was to upgrade the power sector and bring it at par with the fertilizer sector in receiving KG-D6 gas.
In the week gone by, the EGoM headed by AK Antony didn’t favour it and decided not to divert any gas from the fertilizer sector to the power sector. According to the EGoM, this year there will be bumper agriculture crop and therefore it said that no gas should be diverted from the fertilizer sector. This came as a good news for the fertilizer sector which imports gas and said that it needs 25 percent more gas than it currently gets. Read This:EGoM to meet on July 25 to decide new bid norms for UMPPs Veerappa Moily has said that EGoM will decide new sources of domestic gas for the power sector. So, one could expect the government to get more serious about gas pooling.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
