Committee on review of functioning of PSCs

Govt constitutes committee to review the functioning of Petroleum Service Companies (PSCs) in the country.

Who will head this Committee?

  • The committee will be headed by the Prime Minister’s Economic Advisory, Dr. C. Rangarajan

Objectives:

  • Review the current profit-sharing mechanism with the Pre-Tax Investment Multiple of PSCs
  • Provide recommendation for necessary modification for the future PSCs
  • Recommend appropriate mechanism for managing the contract implementation of the companies
  • Review the structure and elements of the guidelines for determining the formula for the price of domestically produced gas and for monitoring actual price fixation

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