After 'one paisa' bids fiasco, PNGRB changes bid norms for CNG, PNG retail licence
PNGRB has so far held eight rounds of bidding where companies were asked to quote the tariff for pipeline that carries gas within the city limits. This bidding criteria did not include the rate at which an entity would sell CNG to automobiles or piped natural gas to households using the same pipeline network, leading to companies offering one paisa as tariff to win licences.
After 'one paisa' bids spoilt the initial auction rounds, oil regulator PNGRB has radically changed the bidding parameters for obtaining a licence to retail CNG and piped cooking gas in cities. Image source: Reuters