The Union Government will review model concession agreements (MCAs) for public private partnership (PPP) projects across sectors to assess the possibility of moving from a cost-plus basis to predetermined rates while awarding contracts
Tag: model
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RBI working paper moots new banking structure
The Reserve Bank of India (RBI) released a discussion paper on the proposed structure of banking system in India. The paper calls for abandoning the present two-tier banking structure in favour of a four-tier banking structure, which would usher in more competition, and resilience in the
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Minister rejects rumours on UN advice for PPP projects
Planning Minister Rajeev Shukla denied rumours that the United Nations suggested India to avoid public-private partnership (PPP) model for developing infrastructure. It may be recalled that a recent study by the UN found that PPP model for infrastructure sector need not lead to improved disaster risk assessment and man
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Minister asks firms to invest in oil and gas sector
The Petroleum Minister for Petroleum and Natural Gas M Veerappa Moily has emphasised the need for greater investment in the oil and gas sector. He said this while addressing an Assocham Seminar on Indian Economy in the context of global energy scenario. The minister said the government was committed to deal with the energy security issues. It is in this context that the gas pricing formula was recently revised based on th
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Department suggests cap on gas pricing under new regime
The department of expenditure of the union finance ministry suggested the oil ministry to fix a ceiling price for domestic natural gas under the Rangarajan formula. On June 27, the Cabinet Committee on Economic Affairs cleared the adoption of the Rangarajan pricing formula for domestic natural gas from April 2014. But while adopting this formula, the expenditure department suggested that gas producers should not be allow
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Govt sticks to formula rather than any fixed price
Even as the union cabinet recently approved the hike in domestic natural gas price to $8.4 million metric British thermal unit (mmbtu) from April 2014, the government does not stick to any fixed price, some media reports indicate. According to these reports, the government has left the market condition to fix the price based on the formula proposed by the Rangarajan committee
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Ministry note justifies gas price hike
An internal note circulated by the petroleum & natural gas ministry has justified the recent decision of the union cabinet to almost double the domestic natural gas price to $8.4 per unit. The note argued that the current price of $4.2 was not viable for “sustenance of the domestic production of gas and all the operators are demanding an increase in price
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Govt may adopt SPV model for proposed port projects
According to some media reports, central government plans to develop two major ports, one each in Andhra Pradesh and West Bengal, through special purpose vehicle (SPV)-based model. The central government may contribute Rs 5,000 crore as equity for the two projects. Reports indicate that the central government may contribute 74 percent of the total project cost, while the respective state gove
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AOGO wants govt to move to free pricing regime early
The Association of Oil and Gas Operators (AOGO) opined that the government must move to a free market-based pricing regime for natural gas. In a statement, the industry body of the upstream oil and gas sector said future investors shall be willing to take the risk of lower prices, as long as the free market principles and non interference by allocation are obse
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Gas price hike may fetch $2.2 bn more income to govt
A report by brokerage firm Bank of America Merrill Lynch shows that government may get an additional revenue of $2.2 billion owing to its decision to double domestic natural gas price. The government would use this additional revenue, which it may get through higher taxes and profit, to fund rise i
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