A parliamentary standing committee report on pricing of natural gas set to be tabled in Lok Sabha Wednesday has triggered a tug of war. Sanjay Nirupam,one of the Congress members in the panel headed by Yashwant Sinha,has given a dissent note against the panels conclusion that increase in gas prices will have a derailing effect on the economy in general and on the fertilizer,power and steel sectors in particular.
Nirupam is learnt to have argued that the report on economic impact of revision of natural gas price was adopted in undue haste despite the fact that the increase in prices will come to effect only in April 2014. He argued that the decision has been rushed through.
In his dissent note,he reportedly pointed out the panel did not consult public and private sector oil companies or the ministries of Petroleum,Power and Fertilizers and Chemicals before forming its view. Besides,it did not invite C Rangarajan,who devised the formula for gas pricing,to hear his views and did not give due consideration to feasibility of domestic and foreign investment.