Reliance is duping the govt, says Anil Ambani

Reliance is duping the govt, says Anil Ambani

This, it said, would result in additional burden of Rs 10,000 crore on the government. “Reliance Industries Ltd (RIL) is charging an illegal and unauthorised “marketing margin” of 13.5 cents (Rs.6.6) per million btu on the sale of gas from its KG Basin D-6 fields. This accounts for over three percent of price at which gas is being sold,” said J P Chalasani, Chief Executive of Reliance Power, R-ADAG company.

RIL does not have an approval from petroleum ministry or empowered group of ministers (EGoM) to levy this additional charge. “RIL’s marketing margin has, in fact, not been subjected to any process of official scrutiny at all,” he said.

“The marketing margin is a device illegally adopted by RIL to charge a higher sale price, without even paying the lawful share of such revenues to the government,” Chalasani said. “Based on this higher sales price, government should at least get a higher share of profit petroleum — in addition to royalty — as per the production sharing contract. Even this is not happening, and the entire benefit of over Rs. 10,000 crore is going to RIL alone.”
The R-ADAG group has also charged petroleum ministry with acting in collusion with Reliance Industries.

“The ministry has denied giving permission to RIL to charge any such marketing margin. It is, therefore, surprising that the ministry is taking no steps to immediately prevent RIL from charging this illegal levy.”

DH Newsletter Privacy Policy Get top news in your inbox daily