New Delhi, July 15: The Group of Ministers (GoM) on natural gas pricing will meet on July 23 to deliberate on raising gas prices after four-years of government cap. GoM will discuss increasing domestic natural gas prices from current cap of Rs 2850 per thousand cubic meters to a level "acceptable to major consuming power and fertiliser sectors," official sources said.
A committee of secretaries, which had representation from ministries of finance, petroleum, power and fertiliser, had last month recommended an immediate hike in domestic natural gas prices to Rs 3250 per thousand cubic meters.
The Rs 400 per thousand cubic meters raise would marginally lead to increase in cost of production of power and fertiliser.
The GoM meeting will discuss the recommendations, they said adding the decision of the meeting would than go to the Cabinet for final approval.
Bureau Report