Union govt to set up Project Clearance Board

The Union Government has decided to set up a high-level board to ensure speedy clearances to oil and natural gas projects, 70 of which have been affected so far.

The Project Clearance Board, to be headed by the Cabinet Secretary, will be on the lines of the Foreign Investment Promotion Board (FIPB) which clears FDI proposals in sensitive sectors.

The decision to set up the board was taken at a meeting held by the Prime Minister’s Office to review the progress on various oil and natural gas exploration projects under the New Exploration Licensing Policy (NELP).

The board will include representatives from the Ministries of Home, Defence, Environment & Forests, Commerce, Coal, Department of Space and other infrastructure and energy related Ministries/Departments.

Source: Hindu