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Business & Economy
GAIL monopoly over
gas pipe laying to go
What is India News Service,
Thursday, 16 December 2004, 2000 hrs IST
The government
will end GAIL
India Ltd's monopoly over laying natural gas pipelines by allowing private
sector firms in gas transportation business, Petroleum Minister Mani Shankar
Aiyar said today.
Government has already allowed Reliance Industries Ltd to lay natural gas
pipelines from Kakinada in Andhra Pradesh to Ahmedabad in Gujarat via Hyderabad
and Uran.
"Government has under consideration a draft pipeline policy which envisages
development of a natural gas pipeline infrastructure in a competitive
environment involving both the public and private sectors," he told the Lok
Sabha in a writen reply.
"This will encourage competition, efficiency and greater investment in this
sector, all of which will ultimately benefit the consumer and the economy in
general," he said.
The draft pipeline policy was based on the feedback received from various
stakeholders, including major domestic and international oil and gas companies,
different industry chambers and state governments and after inter-ministerial
consultations, he said.
Natural gas pipelines being highly capital-intensive projects, they are
considered natural monopolies and, therefore, the government proposes to
regulate them, he said.
Sensex crosses 6,400 mark:
The bulls are continuing with their dream run on Dalal Street. The widely-tracked BSE Sensitive Index and the 50-share National Stock Exchange S&P CNX Nifty index zoomed to their lifetime highs on Wednesday as euphoric buying continued on the back of strong foreign fund inflows.
Anil
awaits RIL board meeting: Sibling rivalry in the Ambani family is now
knocking at the Reliance board. On December 6, Vice-Chairman and Managing
Director of Reliance Industries Ltd Anil Ambani had requested a board meeting to
consider recent developments. However, it seems, his request has fallen on deaf
ears.
Reliance expresses inability in SC to pay Rs 84 cr to BSNL:
Reliance Infocomm Ltd today expressed its inability in the Supreme Court to pay the remaining Rs 84 crore to the BSNL in view of the charges on the incoming international calls, but was willing to execute a bank guarantee for the amount.
Sugar industry blues exacerbate: The
Ministry of Petroleum and Natural Gas has done away with the previous
Government's decision to mandate ethanol blend in petrol.
Grain
merchants lose business to e-chaupals:
Grain merchants in Madhya Pradesh, who have proceeded on stir since the last
three days, appear to be fighting a losing battle. They want the government to
force the farmers to sell their produce not to the privately set up centres but
to them only.
Rs 1,001 cr ITI revival plan approved:
The package comes with a rider. The Ministry of Telecommunications must furnish within a month a supplementary note about a technology tie-up.
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