31st May 2012
Govt constitutes committee to review the functioning of Petroleum Service Companies (PSCs) in the country.
Who will head this Committee?
- The committee will be headed by the Prime Minister’s Economic Advisory, Dr. C. Rangarajan
Objectives:
- Review the current profit-sharing mechanism with the Pre-Tax Investment Multiple of PSCs
- Provide recommendation for necessary modification for the future PSCs
- Recommend appropriate mechanism for managing the contract implementation of the companies
- Review the structure and elements of the guidelines for determining the formula for the price of domestically produced gas and for monitoring actual price fixation
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