When the Government is contemplating a massive hike in the price of Natural Gas, CPI M.P. Gurudas Dasgupta has effectively exposed the moves behind this of Petroleum Minister Veerappa Moily to shower a huge bonanza of windfall profit to Reliance.
In a series of open letters to the Prime Minister Gurudas Dasgupta has accused Moily of stalling arbitration proceedings against Reliance initiated by his predecessor Jaipal Reddy, seeking to recover penalty of one billion Dollars from the company for violating contractual obligations in gas extraction in the Krishna-Godavari basin. The decline in production has resulted in a total loss of Rs. 1.1 lakh crores, affecting power generation and fertilizer production of the country. This is with the full knowledge and connivance of the Petroleum Minister. Further, he is recommending a price for the gas to be paid to Reliance which is substantially higher than that recommended by Rangarajan committee and high officials of his own Ministry.
Mr. Moily has tried to deflect these allegations backed by irrefutable evidence by maliciously suggesting that Dasgupta’s charges are made at the instance of ‘vested interests’ and ‘import lobbies’ and are baseless.
This is a serious matter subverting the national interests of the country in order to favour a big Corporate House. The CPI therefore demands that a high level inquiry, preferably by a Supreme Court Judge should be instituted and that Veerappa Moily should resign.