Panel submits a report on reducing oil import dependency


Panel submits a report on reducing oil import dependency

A high-level committee Tuesday submitted its report on a strategy to reduce India’s oil import dependence, an official statement said without giving details.  The high-level committee (HLC) was constituted to examine the issues relating to the preparation of action plan to create synergy among R&D centres of oil and gas PSUs, tax issues and ways to benefit from GST, it said.

“The HLC, consisting of Anil Kakodkar, eminent scientist; and Sidharth Pradhan, an expert on financial and tax issues, also looked into merger, acquisition and consolidation of oil and gas PSUs and the joint ventures; explored the need and possibility of formation of new entity dealing with oil services and supply of qualified manpower to oil and gas sector around the world,” it said adding the panel submitted recommendation on reducing India’s oil dependency.  Read More

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