Anil Ambani Says Oil Ministry Will Erode Investor Confidence
According to Anil Ambani the partisan stand that has been adopted by India's petroleum ministry in the reliance gas dispute will erode investor confidence and goes against the government's reforms direction.
According to him the oil ministry's position has also violated the “purity” of contracts.
"Clearly, the petroleum ministry's unfortunate intervention in a corporate commercial dispute in this manner, if permitted to continue, will erode investor confidence and thwart the government's efforts to attract investments into India," said Anil Ambani.
"In complete reversal to the entire direction of economic reforms being implemented by our respected Prime Minister Manmohan Singh, the petroleum ministry is regrettably pursuing a different path," he charged.
Ambani also added that the oil ministry was seeking a return of the erstwhile regime of command and control, often referred to as the "licence permit raj", when all business decisions had to be authorised by the government on an ad-hoc basis.