“Where is the question of stalling or stopping anything? The decision to raise gas prices for both public sector and private producers has gone through a governance process. It was considered by Cabinet twice and approved twice,” Moily told reporters on the sidelines of an event here. (Agencies)
The new rates, which are likely to be at USD 8-8.4 against the current price of USD 4.2 per million, are based on the recommendations of a committee that was appointed by Prime Minister Manmohan Singh at the request of Moily’s predecessor S Jaipal Reddy.
Moily and Reliance Industries Limited (RIL) chairman Mukesh Ambani were earlier this week named in an FIR by the Anti-Corruption Branch (ACB) of Delhi government in the Reliance gas issue.
The FIR by the ACB was registered a day after Kejriwal said that the agency has been told to probe their alleged collusion over hike in prices of natural gas from KG basin.
“I don't think Delhi government is our appellate authority. What they are doing is totally unconstitutional. And it is definitely against the principles of federalism," he said.
Moily said the FIR was ‘a very clear case that they are exercising powers which are extra-constitutional and rather I would say it is contrary to constitutional provisions’.
Moily said the decision to allow PSU firms like ONGC as well as RIL a rate equivalent to the average price prevailing at international gas hubs and cost of importing the fuel into
India in past 12 months are based on the recommendation of a panel headed by Prime Minister’s Economic Advisory Council (PMEAC) chairman C Rangarajan.
“It is absolutely based on recommendations made by the Dr Rangarajan Committee. He is an eminent economist and he has gone through the mills. And I have not changed even a word or a full stop or a comma from the recommendation. So, where is the question of Moily's verdict?” Moily asked.
"The Rangarajan Committee was appointed by Mr Jaipal Reddy who was the (Oil) Minister. I have not appointed the committee to suit my needs,” he added.
“Where is the question of stalling or stopping anything? The decision to raise gas prices for both public sector and private producers has gone through a governance process. It was considered by Cabinet twice and approved twice,” Moily told reporters on the sidelines of an event here.