Decision on natural gas price hike unlikely today

June 21, 2013 09:07

A proposal for across-the-board hike in natural gas prices will go before the Cabinet today after key ministries of finance and fertiliser have endorsed the plan to raise the rates by 60 per cent.

While the Oil Ministry on Wednesday moved a note for raising gas prices to $6.775 per million British thermal unit for

consideration of the Cabinet Committee on Economic Affairs, the proposal had been listed for consideration of the CCEA meet slated for today morning.

However, Oil Minister M Veerappa Moily is travelling to Tripura for the inauguration of ONGC's power plant built by President Pranab Mukherjee, official sources said.

It is for this reason that even if the proposal comes up for consideration of CCEA, there may not be a decision, they said, adding that in all likelihood the issue may be referred to a group of ministers for further discussion owing to intense opposition from certain lobbies.

There was also buzz that the ministry had in fact withdrawn its listed agenda for presenting a status report on implementation of ethanol-blend petrol programme from today's CCEA meet.

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