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Journalism of Courage
AHMEDABAD, NOV 18: Any regulatory body established for the gas sector needs to have a clear vision, be independent of the Government, have a clear source of funding, duties and powers firmly established in law, accountability and a stable membership.
This was stated by head of regulation British Gas Martin Plackett, at the national seminar on Regulatory Framework in Gas Sector Issues and Exceptations8217; held this morning. Plackett said in a developing market like India, public interest was best served by creating ambient conditions for the private sector8217;s entry into the new gas regulatory regime. He suggested an industry-wide debate to establish the right framework and consistency between the Centre and the various State regulations to avoid conflict.
In his address, Ratilal Varma, Member of Parliament, stressed on the need for private sector participation in building an infrastructure base in the country. He stated that investments to the tune of Rs 4,000 to Rs 4,500 billion would be required in the next five years and this would rise to Rs 7,500 bilion in the following five years. This kind of investment could not come from the Government alone and hence private sector involvement was necessary, he said.
Verma said the importance of the oil and natural gas sector for the growth of the country could be understood from the fact that the demand for petroleum products in India was expected to double within the next decade.
Later, answering a question from the audience, Dr Peter Miles, former director general, National Energy Board, Canada, advised the Government to lay out a policy statement making rules that will facilitate evolution of industry in a socially desirable direction.
