Poll panel in power

With the model code of conduct in place for the general elections, all ministries are queuing up for the poll panel’s approval for key decisions.

The oil ministry approached the Election Commission for approval to announce near doubling of natural gas prices to about $8 from next month. The price to be applicable from April 1 is to be announced sometime next week and before that oil secretary met chief election commissioner.

The commerce ministry has sought approval of the poll panel to move ahead with its proposal to liberalise the overseas investment policy in railways.

The finance ministry has sought approval of the poll panel to expand scope of the ADR/GDR scheme to permit companies to raise funds from overseas markets on the strength of debt instruments like G-secs and corporate bonds held by them.