RIL bats for no caps on domestic gas price as govt panel seeks review

Any such move will delay investments in fuel production, company tells govt panel

Mukesh Ambani-led Reliance Industries (RIL) has asked a government-appointed panel to desist from putting price caps on domestically produced natural gas, arguing that any such move would be retrograde and would delay investments in fuel production.

The panel headed by former Planning Commission member Kirit S Parikh was set up last month, just ahead of the October gas price revision, with the task of suggesting a “fair price” for the fuel after taking into account the needs of both producers and users. The panel was to submit its suggestions by the end of September, but now it has asked for more