In line with this new focus, IDFC is currently in the process of establishing policy advisory boards in telecommunications and information technology and integratedtransport logistics. Last year, IDFC had created similar boards for power and ports. The company has a full fleged division called the Policy Advisory Group, under which the boards are created. While the objective is to develop a framework that will attract private sector investment in infrastructure, the group also identifies best practices, policy alternatives and public utilty pricing. The group is currently in the process of finalising vision papers for each of these sectors. IDFC has also identified "touchstone principles" - the framework under which the policy work will be carried out. The basic objective is efficient supply of infrastructure services to the consumer. Other principles include competitive framework to expand consumer choice and an independent and enabling regulatory framework to sustain it. IDFC is attempting to make the shift to the new sectors in all its operations. The company is now part of a consortium of financial advisors to Petronet LNG's handling facility at Dahej and Kochi -giving it a foothold in the oil and gas sector. IDFC is also working on building relationships with major electrical equipment suppliers in a bid to enter the funding market for power transmission and distribution. In this area, IDFC is keen to combine traditional suppliers credit with mezzanine financing. Presentations have also been made to companies like BHEL and ABB. In the past, IDFC has done fee-based work for the ministry of surface transport to develop the concession agreement. Most of the recommendations on financing pattern, escrow cover and force majeure were accepted and negotiations are currently going on with the shortlisted bidders. IDFC has also prepared standard bidding documents and licence agreements for privatisation projects in major ports.