Naik seeks changes in 10th Plan

Demanding that the 10th five year plan should take into account the previous achievements and reflect ground realities, the Petroleum Minister Ram Naik has sought some changes in the draft plan document relating to his ministry including privatisation of oil companies. Naik has sought his own involvement in the formulation of chapter on petroleum and natural gas sector in the 10th Plan document. Apart for an enhanced outlay of Rs 103,655 crore in the petroleum sector, up from Rs 96,041 crore proposed earlier, the draft chapter had said that progressive privatisation of PSUs in the oil sector would be completed during the 10th Plan, but failed to mention government’s achievement in exploration and production as well as APM dismantiling and acquisition of oil equity abroad. Pointing to lapses in the draft, Naik in his meeting with deputy chairman of planning commission KC Pant is believed to have asked to present the achievements in the sector during the ninth plan and to specifically mention that government would have majority stake in oil PSUs like IOC, GAIL and ONGC.

The 10th plan (2002-07) outlay of Rs 103,654.56 crore will see an additional investment of Rs 13,000 crore for upgrading refineries for producing pollution free transport fuels, Naik said. He said Rs 51,968.95 crore would be spent on exploration, Rs 43,122.09 crore on refining and marketing, Rs 150 crore on engineering and Rs 8,413.52 crore on gas pipelines. “No budgetary or financial support would be provided by the government to the petroleum sector in the Rs 103,655 crore 10th five year plan. National oil companies would meet the entire plan expenditure through internal resources or from market borrowings,” Naik said. Total actual expenditure during the 9th Plan period was Rs 51,000 crore, Naik said, adding Rs 17,988.49 crore would be spent during the current fiscal on exploration, refining, engineering and pipeline transportation.