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Experts warn AAP against playing politics with oil sector

Unfortunately what people don’t realise that such charges against industry captains or creating suspicion in the minds of the ordinary people, will lead to creating suspicion in the mind of investors particularly foreign investors, Narendra Taneja, Energy Expert, South Asia Bureau Chief, Upstream said.

February 11, 2014 / 17:37 IST
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In an interview to CNBC-TV18 energy expert Narendra Taneja and market expert SP Tulsian shared their views on AAP leader Arvind Kejriwal's allegations against oil & gas sector.

Below is the verbatim transcript of Narendra Taneja and SP Tulsian’s interview with CNBC-TV18's Reema Tendulkar and Sonia Shenoy.

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Reema: Kejriwal has also said that he will take up this matter with the Prime Minister Manmohan Singh and demand that the hike in gas prices from April 1 should be kept in abeyance. This gas price hike was formulated according to the production sharing contract (PSC) of which the government is also a party to it. So, is there any merit in that?

Taneja: There are two points. First, can a chief minister of a state actually intervene in such matters? As far as the constitution is concerned, areas like oil and gas belong to the domain of central government and not any state government. They can intervene when it comes to matters like laying pipeline, law and order, but not in these matters. Secondly, they are throwing some charges, but not giving any evidence. Infact, I have been in touch with them and I have asked them to show me some evidence. They have promised to show it to me, but I have not been shown anything so far. To me it looks more politics than economics.