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Re-look at petro products duty structure
By Our Special Correspondent
NEW DELHI,
SEPT. 28.
With international oil prices crossing the $50 per barrel mark, the Government has set up a high-level committee to look into the duty structure of petroleum products.
The seven-member committee, to be headed by the Chief Economic Advisor, Ashok Lahiri, will submit its report by November end. Confirming the decision, Gautam Ray, Joint Secretary, Central Board of Excise and Customs, who is also a member of the Committee, said the duty structure of all petroleum products was being looked into.
The other members are Joint Secretary in the Ministry of Petroleum and Natural Gas, Prabh Das, Consultant in the Department of Economic Affairs (DEA), Ajay Shah, Advisor in the DEA, G. R. Reddy, Director in the Petroleum Ministry, S. Vijaya Raghavan, and DEA Additional Economic Advisor, K. L. Prasad.
The Committee would assess the impact of tariff changes on various players, including consumers and oil companies.
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