CPI demands Moily`s resignation over gas price hike
CPI sought resignation of Petroleum Minister Veerappa Moily and probe into ministry`s proposal to hike natural gas prices, alleging it would subvert national interests and favour big corporate house.
New Delhi: The CPI on Friday sought the resignation of Petroleum Minister Veerappa Moily and a high-level probe into the ministry`s proposal to hike natural gas prices, alleging that such a move would subvert national interests and favour a big corporate house.
"This is a serious matter subverting the national interests of the country in order to favour a big corporate house. The CPI therefore demands that a high level inquiry, preferably by a Supreme Court judge, should be instituted and that Moily should resign," the party Central Secretariat said in a statement here.
It said that senior CPI MP Gurudas Dasgupta had "effectively exposed" Moily`s moves "to shower a huge bonanza of windfall profit to Reliance".
The party backed Dasgupta`s charges about decline in production leading to a loss of Rs 1.1 lakh crore, saying this happened "with the full knowledge and connivance of the Petroleum Minister. Further, he is recommending a price for the gas to be paid to Reliance which is substantially higher than that recommended by Rangarajan committee and high officials of his own Ministry".
The statement came on a day when the Cabinet Committee on Economic Affairs deferred a decision on the proposal to hike natural gas prices by a steep 60 per cent.
Moily`s proposal to raise gas prices to USD 6.775 million British thermal unit (mmBtu) from current USD 4.2 mmBtu, which would result in a steep rise in electricity tariff, urea manufacturing cost as well as CNG rates, was listed for consideration of CCEA.