Don’t Trap Oil PSUs in Sub­sidy

The Economic Times - - The Edit Page Chock-a-block -

This refers to the Edit, ‘For a Com­pet­i­tive, Ef­fi­cient Oil Sec­tor’ (Feb 4). The gov­ern­ment’s Bud­get 2017 an­nounce­ment for cre­at­ing a mega oil PSU ap­pears jus­ti­fied. How­ever, clar­ity does not come from an an­nounce­ment, and pe­tro­leum and nat­u­ral gas MoS has told TV chan­nels that the PSUs will de­cide the struc­ture of merg­ing. In­dia would be the third-largest oil and gas con­sumer in the next decade, and such a move pro­vides more clout to the na­tion. The gov­ern­ment ought to clar­ify that the PSUs would not be a part of un­der­recov­ery or sub­sidy-shar­ing mech­a­nism and cre­ate true value for the PSUs’ shares.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.