HIGH-LEVEL COMMITTEE (HLC) ON CRUDE OIL IMPORTS

About: 

• Composition: The High-Level Committee consisted of Dr Anil Kakodkar, eminent Scientist and Sidharth Pradhan, an expert on financial and tax issues.
  
  
• Mandate: It was setup to examine the issues relating to the –
  • preparation of action plan to create synergy among Research and Development Centres of Oil and Gas Public Sector Undertakings,
    
    
  • tax issues and ways to benefit from GST by the Oil and Gas PSUs,
    
    
  • merger, acquisition and consolidation of Oil and Gas Public Sector Undertakings and the Joint Ventures and
    
    
  • Formation of new entity dealing with oil services and supply of qualified manpower to the Oil and Gas sector around the world.
    
    
  
  
  
• Recommendations: It has recommended short term, medium term and long term strategies in the report, clearly bringing out the strategy to reduce the import dependency of the nation.
  
  
• Way ahead: Ministry of Petroleum and Natural Gas will consider the recommendations submitted by the Committee while formulating policies.