The MPs demanded the pricing of gas should be based on 'rational and a transparent formulation'.

'As gas is being produced in our own soil, there is absolutely no justification of pricing it on the basis of linkage with international price of an altogether different product like crude oil as has been done at present by making the gas price at $4.32 per million British thermal units (mmbtu),'they said.

'Hence the present gas price determined by the EGoM (empowered group of ministers) must be revised and it should be benchmarked to $2.34 as offered to NTPC by Reliance Industries in 2004-2005.'

At present, there is a dispute between Reliance Industries and the Anil Ambani-led Reliance Natural Resources over gas from the KG basin.