Govt pumps up reforms, okays $8.4 price for gas

In what could spur stagnant domestic production of natural gas, reduce the dependence of power and fertiliser companies on imports of expensive LNG and ease the subsidy burden on the fisc, the Cabinet Committee on Economic Affairs (CCEA) on Thursday approved hiking gas price to $8.4/mmbtu from $4.2 at present for a period of five years beginning April 2014.

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