Though the nature of reforms differ from one sector to another, at their core is the acceptance of market pricing and enforcement of contract. Which is why it is odd, as FE reported on Friday, that the finance ministry has, for the second time in less than six months, turned down the oil ministry’s request to allow a greater element of market-pricing for natural gas. While doing so, the finance ministry has cited old chestnuts that include, for instance, this...
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