Financial Daily from THE HINDU group of publications
Thursday, Feb 09, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 09, 2006 |
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Industry & Economy
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Petroleum India committed to Iran pipeline project: Deora Our Bureau
New Delhi , Feb. 8 THE Petroleum Minister, Mr Murli Deora, has reiterated India's commitment to the multi-million dollar Iran-Pakistan-India gas pipeline project. Mr Deora said the dialogue on the project would be taken further when Pakistan's Oil Minister visits India next week. "We are committed to making the project happen. We need the gas from Iran and will continue to pursue the pipeline project," he told newspersons. The Petroleum Minister said that he would further the dialogue initiated by his predecessor towards realising the project. "Pakistan's Oil Minister is visiting us on February 17. I will welcome him," he said, adding that discussions during the visit would focus on the IPI pipeline project. The agenda of the meeting would be project structure, framework agreement, technical and legal issues and political insurance of the pipeline. "We are sincere and keen that the project comes through. There are hurdles but we are committed," he said. On the issues of petroleum products pricing concerning the domestic hydrocarbon sector, he said, the Prime Minister, Dr Manmohan Singh, will convene a meeting with the Finance Minister, Mr P. Chidambaram, and the Petroleum Minister shortly to discuss pricing of petrol, diesel, LPG and kerosene. "I met Prime Minister this morning to find a way for not raising prices of domestic cooking gas and PDS kerosene. The Prime Minister said he will convene a meeting with Finance Minister soon for solutions," he said. Mr Deora said his Ministry was seeking a slew of fiscal incentives, including infrastructure status, for exploration and production business and exemption from service tax as measures to boost domestic oil hunt.
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