Rangarajan-led team to aid govt price gas: Sources

According to government sources, CNBC-TV18 has learnt that a committee led by C Rangarajan will be set up to help the government decide on gas pricing

May 30, 2012 / 20:52 IST

The setting up of Rangarajan Committee coincides with Reliance Industries demand to the government to revise the USD 4.2/mmbtu gas price before its 2014 expiry and the law ministry opines that the government can increase the KGD6 price, reports CNBC-TV18.

The setting up the committee to look into all aspects of PSCs is also important considering that RIL has invoked arbitration against the government for a USD 1.2 billion penalty slapped against it for falling gas production, saying this is against its PSC.

first published: May 30, 2012 05:52 pm

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