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Title : Takeover of the distribution of KG D6 Basin Gas by the Government of India.
SHRI BASU DEB ACHARIA: Madam, the Government of India has rightly asserted that the country’s natural gas reserves including the gas of the KG basin is a national asset. This asset and the interests of the economy cannot be held hostage to the benevolence and mercy of some private players. This was stated by the Government Counselor in the court in the affidavit filed by the Government of India. We also believe that such firm assertions should be allowed and this should be followed up by the appropriate executive action on proper distribution mechanism to make gas available to priority sector in the country. The regional balance in gas distribution should also be ensured through a national gas grid as proposed in the Budget.
The pricing of gas should be based on rational and transparent formulation. As gas is being produced on our own soil, there is absolutely no justification in pricing it on the basis of linkage with international price of an altogether different product like crude oil, as has been done at present, making gas price at US dollar 4.32 per MMDTU. This price was fixed by the EGUM that was formed to decide on the price of gas that will be available from KG basin.
MADAM SPEAKER: Please conclude.
SHRI BASU DEB ACHARIA : The present gas price determined by the EGUM must be revived. It must be revived and it should be the benchmark 2.34 dollar MMDTU as offered to the National Thermal Power Corporation.
Madam, I demand that the price which has been raised by the empowered Cabinet Committee should be revised and the distribution and marketing of gas of KG basin should be undertaken by the Government and it should not be exploited by the private company.