Briefly Business: CII crticises proposed gas pricing formula
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CII crticises proposed gas pricing formula
New Delhi: Confederation of Indian Industries (CII) has drilled holes in the Rangarajan Panel report on pricing of natural gas based on average of global indices, saying the proposed formula was not in line with contractual provisions. The panel had suggested taking a weighted average of the US, Europe and Japanese gas hubs or market price and then averaging it with the net imported price of liquid gas to arrive at a sale price of domestically produced gas.
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