CII in favour of dollar based gas pricing

This is also directionally a step towards achieving market determined pricing which will encourage the development of a competitive gas market in the country.

Last Updated: Jul 06, 2013, 12:09 PM IST

New Delhi: “CII is in favour of dollar based gas pricing and the Cabinet Committee of Economic Affairs recent decision to increase the gas prices will not only incentivize investment in exploration and production, but will also result in increased revenues to the government which could then be invested in various development programs. "

"This is also directionally a step towards achieving market determined pricing which will encourage the development of a competitive gas market in the country.”

ANI