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Our Bureau

New Delhi, Aug. 18 The Petroleum Minister, Mr Murli Deora, has convened a meeting of oil PSU chiefs on Tuesday to discuss various issues and challenges faced by them as well as the implications of the recommendations of high powered B.K. Chaturvedi Committee.

According to an official statement, the meeting would specially focus on the distribution of petroleum products in the country, financial position of the oil marketing companies (OMCs) in the back drop of under recoveries incurred by them on petrol, diesel, domestic LPG and PDS kerosene, and recommendations of the Chaturvedi Committee.

The Minister of State for Petroleum & Natural Gas, Mr Dinsha Patel, and the Petroleum Secretary, Mr R.S. Pandey, will also be attending the meeting.

The Prime Minister-appointed high-powered Committee has recommended monthly revision in prices of petrol and diesel in line with the global trend, and windfall profit tax on fields that were awarded to exploration companies before launch of New Exploration and Licensing Policy (NELP).

The Committee was set up to assess the financial position of PSU oil retailers Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation.

It has also proposed 100 per cent export parity pricing for fixation of consumer prices of petrol and diesel by OMCs and brining down the import duty on petrol and diesel to zero.

More Stories on : Petroleum | PSU

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