Home / Companies / News / Govt wants Gail to exit petrochemical business: Dharmendra Pradhan

Govt wants Gail to exit petrochemical business: Dharmendra Pradhan

Pradhan said that the government is also working on the creation of a National Gas Hub, which would be a trading place for gas at market-determined price

Premium

Last Updated : Aug 27 2018 | 11:05 PM IST

Petroleum Minister Dharmendra Pradhan said on Monday that the government wants state-run Gail (India) to exit its petrochemical business.

On the other hand, contrary to the earlier reports of hiving off the company's marketing division, the Gail board is planning to have marketing and pipeline segments to be "independent and autonomous with separate balance sheets".

"The Gail board has approached the government saying that they are working on a similar proposal to have separate segments for pipeline and marketing. We want Gail to exit petrochemical business gradually and focus on its core area that is pipeline," Pradhan said.

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in