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Several govt panels rejected RIL proposal

NEW DELHI: Various committees, not just the oil ministry, rejected petro giant Reliance Industries Ltd's (RIL) proposal to link cost of KG gas with the international crude price with the ministry estimating the tab for states and the Centre adds up to a staggering $6.3 billion. In its report to an Empowered Group of Ministers (EGoM) then headed by Pranab Mukherjee, the oil ministry set out the financial implications of acceding to the RIL request to hike the price of gas from $4.2 per million metric British thermal unit (MMBTU) to $14.20-$14.51 per MMBTU.

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