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News Business Gas price hike needed as domestic output down sharply: Chidambaram

Gas price hike needed as domestic output down sharply: Chidambaram

New Delhi, June 28: Finance Minister P. Chidambaram has said a hike in gas prices was necessary because domestic production has declined sharply.The decline in domestic production has resulted in a rise in import of

gas price hike needed as domestic output down sharply chidambaram gas price hike needed as domestic output down sharply chidambaram
PTI June 28, 2013 11:38 IST
New Delhi, June 28: Finance Minister P. Chidambaram has said a hike in gas prices was necessary because domestic production has declined sharply.



The decline in domestic production has resulted in a rise in import of LNG, the Finance Minister said.

Domestic gas production would go up if investments were made; currently no investment was being made in gas production, Chidambaram said.

New gas prices would come into force from April 1, 2014, the Finance Minister said.

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