Mischievous piece: Government refutes media report on natural gas allocation being stopped
The ministry terming it as the spread of misinformation said, “When the fourth estate agrees to be used to advance vested interests, truth becomes a casualty."
Calling it a mischievous piece, the Ministry of Petroleum and Natural Gas on Sunday refuted factually incorrect statements that the government has stopped doing natural gas allocation to city gas distributors by a news agency PTI, in a series of tweets through its official Twitter handle.
The ministry terming it as the spread of misinformation said, “When the fourth estate agrees to be used to advance vested interests, truth becomes a casualty.”
See Zee Business Live TV Streaming Below:
Quoting sources, PTI in a news article had said, “The Oil Ministry has stopped making fresh allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels.”
The ministry listed correct facts through its statements on Twitter, they are:
1. The global LNG prices have gone up by around 300% in last 1 year. Ministry is only waiting for the updated data for the period October 21 to March 22 from CGD entities for the allocations in April 2022. This is yet to be received from all entities.
2. CGD entities have requested for Quarterly allocation. This proposal is under active consideration.
3. Based on data of Oct 20- March 21 consumption, the allocation for April-October 21 was revised as per the guidelines in April last year.
4. Additional allocation for CGD would necessarily require some reprioritisation amongst the consuming sectors which is a sensitive decision.
5. The ministry only heard out CGD entities and did not make any suggestions/decisions. Therefore, it is absolutely mischievous to say that CGD entities were asked to increase prices.
On the contrary, the ministry also listed out the factual wrong statements/claims made through sources by the PTI, it noted:
1. The ministry has stopped doing new allocation.
2. Request for maintaining supplies at last 2 months average.
3. The gas allocation was not increased in April 2021.
4. The ministry asked them to import LNG and pass on cost to customer.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
05:50 PM IST