CPM attacks UPA govt over CAG findings on KG basin contracts
The draft CAG report on the production sharing contracts of the KG Basin gas pointed to collusion between the government and Reliance Industries, media reports said last week.
By ET Bureau | Updated:
NEW DELHI: The Communist Party of India (Marxist) on Thursday unleashed a sharp attack on the government based on the draft report of the Comptroller and Auditor General ( CAG) on the pricing of KG Basin gas, saying the “sordid affair” was allowed to happen despite repeated interventions by the party.
The draft CAG report on the production sharing contracts of the KG Basin gas pointed to collusion between the government and Reliance Industries, media reports said last week. Most significantly, the report says the government allowed the Mukesh Ambaniheaded conglomerate to inflate its expenditure from $2.47 billion to $8.84 billion, while production went up from 40 MMSCMD to 80 MMSCMD.
“The Prime Minister and the Union Cabinet must take full responsibility and order an inquiry into the matter,” CPM leader Sitaram Yechury said, adding that the party will raise the matter in Parliament. “The Prime Minister is on record to say that India can ill-afford crony capitalism. But the worst form of crony capitalism is happening under his leadership,” Yechury said.
The party demanded an immediate revision of the existing Production Sharing Contract in consultation with the CAG and sought action against the former director general of hydrocarbons and other officials responsible for the scam.
The draft CAG report on the production sharing contracts of the KG Basin gas pointed to collusion between the government and Reliance Industries, media reports said last week. Most significantly, the report says the government allowed the Mukesh Ambaniheaded conglomerate to inflate its expenditure from $2.47 billion to $8.84 billion, while production went up from 40 MMSCMD to 80 MMSCMD.
“The Prime Minister and the Union Cabinet must take full responsibility and order an inquiry into the matter,” CPM leader Sitaram Yechury said, adding that the party will raise the matter in Parliament. “The Prime Minister is on record to say that India can ill-afford crony capitalism. But the worst form of crony capitalism is happening under his leadership,” Yechury said.
The party demanded an immediate revision of the existing Production Sharing Contract in consultation with the CAG and sought action against the former director general of hydrocarbons and other officials responsible for the scam.
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