Committee on review of functioning of PSCs

Govt constitutes committee to review the functioning of Petroleum Service Companies (PSCs) in the country.

Who will head this Committee?

The committee will be headed by the Prime Minister’s Economic Advisory, Dr. C. Rangarajan

Objectives:

Review the current profit-sharing mechanism with the Pre-Tax Investment Multiple of PSCs
Provide recommendation for necessary modification for the future PSCs
Recommend appropriate mechanism for managing the contract implementation of the companies
Review the structure and elements of the guidelines for determining the formula for the price of domestically produced gas and for monitoring actual price fixation

Source : www.gktoday.in

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