The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Modi, today announced it has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs).
OMCs will now be provided ethanol at a subsidized rate to carry out the Ethanol Blended Petrol (EBP) Programme
The administered price of ethanol for the EBP Programme will be Rs 39 per litre during the next sugar season from 1st December 2016 to 30th November 2017.
Additional charges will be paid to the ethanol suppliers as per actuals in case of Excise Duty and VAT/GST and transportation charges as decided by OMCs.
Increase/reduction in the retail selling price of Petrol would proportionately factor in the requirement of maintaining the fixed cost of purchase of ethanol during the ethanol supply year.
The prices of ethanol will be reviewed and suitably revised by Government at any time during the next sugar season depending upon the prevailing economic situation and other relevant factors.
The revision in ethanol prices will facilitate the continued policy of the Government in providing price stability and remunerative prices for ethanol suppliers.
The Government on started revision of ethanol prices in December 2014, and decided that the delivered price of ethanol at OMC depots would be fixed in the range of Rs. 48.50 per litre to 49.50 per litre including Central/State Government taxes and transportation charges. Lamin Barrow Authentic JerseyShare This