Decks cleared for petroleum regulator

New Delhi, March 21 | Updated: Mar 22 2006, 05:30am hrs
The Centre is set to enact the Petroleum and Natural Gas Regulatory Board Bill with both Houses of Parliament clearing the Bill, which is aimed at regulating downstream activities including refining, marketing and other processes in the sector. The Bill, originally introduced by the previous NDA government in 2002, was referred to the standing committee.

Winding up the discussion on the Bill in the Lok Sabha, petroleum minister Murli Deora said the board would work towards protecting the interests of consumers, seek to boost investments and help in creating a competitive market.

He also ruled out the possibility of having a single regulator for the entire energy sector. He said there were individual ministries for various sub-sectors in the energy sector, including power, coal and non-conventional energy.

Moreover, he said, electricity was in the concurrent list and states too had a role a play in its regulation.

A single regulator for all the sub-sectors would make it unwieldy.