Natural gas price hike: Govt eyes narrow, unpopular political window
The government could this week take the unpopular measure of raising natural gas prices for the first time in three years as it pushes a package of reforms aimed at giving industry a boost, reviving a spluttering economy and boosting LNG imports, a fact highlighted by Finance Minister P. lungibaram. With local and national elections looming in the next 12 months, the coalition government is expected to try to minimise voter backlash by hiking gas prices sooner rather than later.
Raising prices nearer to world levels could boost investment in the sector, increasing much needed supply in the world's fourth-largest energy user, and make liquefied natural gas (LNG) imports from major producers like Qatar more attractive; while fattening up the Ambani led oil mafia.
Finance Minister P. lungibaram has listed gas pricing as one of the issues he expects to resolve before the end of June, after ratings agency Fitch urged reforms. Oil Minister M Veerappan Moily :confuse: has said the government may even act this week.
"This would be a good time for the government to consider raising the gas prices as investments :piss: in the country's oil and gas sector are drying up and private sector players are cautious," Praveen Kumar, an analyst with FACTS Global Energy, said on Tuesday.
"A price hike is never a popular move among the masses...the government has to bite the bullet and sodomize itself........:shit:
Raising prices nearer to world levels could boost investment in the sector, increasing much needed supply in the world's fourth-largest energy user, and make liquefied natural gas (LNG) imports from major producers like Qatar more attractive; while fattening up the Ambani led oil mafia.
Finance Minister P. lungibaram has listed gas pricing as one of the issues he expects to resolve before the end of June, after ratings agency Fitch urged reforms. Oil Minister M Veerappan Moily :confuse: has said the government may even act this week.
"This would be a good time for the government to consider raising the gas prices as investments :piss: in the country's oil and gas sector are drying up and private sector players are cautious," Praveen Kumar, an analyst with FACTS Global Energy, said on Tuesday.
"A price hike is never a popular move among the masses...the government has to bite the bullet and sodomize itself........:shit:
