Gas price hiked to suit Reliance Industries: CPI-M

New Delhi, May 21 (IANS) The Communist Party of India-Marxist (CPI-M) Friday denounced the government’s decision to hike the price of gas produced by public sector units from $1.8 per unit to $4.2 per unit, saying it has been done to suit Reliance Industries.

‘This doubling of the price in the administered price mechanism (APM) has been done to bring it in line with the price approved by the government for the gas produced by the Reliance Industries Ltd (RIL),’ it said in a statement.

‘The government decision seems motivated to ensure the market for RIL’s gas since the lower priced gas of the public sector enterprises would have been more attractive for the power and fertilizer producers.

‘By this step the additional burden of Rs.8,000 crore will be passed on to the consumers of power and fertilizers. The transport industry using CNG will also be affected.’

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