Gujarat industrialists want crude oil royalty 'in kind'

Vol 5, PW 18 (24 Oct 01) News in Brief
     

Here's an unusual request from Mahendra Shah of the Gujarat Chamber of Commerce & Industry.

"With the increasing industrialisation in Gujarat, the shortage of fuel is rising," writes Shah to oil minister Ram Naik on 19th September. "It is therefore requested that instead of paying royalty in cash the government of India may consider paying royalty in kind by way of petroleum and natural gas as and when required by (Gujarat) state government." Royalty to states on crude oil was raised in August to Rs850 per tonne ($18.47) - from the earlier Rs800 per tonne - backdated from December 1999.

LNG Summit