The advisory committee formed to suggest restructuring of public sector oil firms will submit its report by May, petroleum minister Mani Shankar Aiyar said today."The committee had its first meeting on January 24, and is expected to furnish its report by May 2005," Aiyar said."It was felt that there is a need for oil public sector undertakings to leverage their strengths in their respective areas of core compentence to optimally fulfil the key role envisaged for them in promoting national objective of energy security, accelerated growth rate and sustained economic development," he added.Addressing the meeting of the Parliamentary consultative committee of the ministry of petroleum and natural gas, Aiyar said the advisory committee "will examine the core competence of PSUs in petrol and natural gas sector of India to assess their competitiveness in the evolving domestic and international scenario."It will also analyse the various options of leveraging their strength to optimally fulfil their required contribution to the national objectives of energy security, accelerated growth, susained development and social objectives of government policy.
