Panel for eliminating investment rule for fuel marketing licence

NEW DELHI: An official panel has recommended removing Rs 2,000-crore investment in the country’s oil sector as the condition for fuel marketing licence, a move aimed at opening up the sector to higher competition and better customer service.

In March, the government had set up a five-member panel, including economist Kirit Parekh, former petroleum secretary GC Chaturvedi, and former IndianOil chairman MA Pathan, to review the government guidelines on grant of transport fuel marketing licence.