FM-led panel gives green signal to ATF import

Acceding to the demands of cash-strapped domestic aviation firms, a government panel today cleared a proposal that would enable airlines to directly import jet fuel, thereby sparing them from the burden of high local levies. The Group of Ministers meeting, chaired by finance minister Pranab Mukherjee, also reviewed the civil aviation ministry’s proposal to allow foreign airlines to pick up 49 per cent stake in local airlines. Both decisions — on FDI and jet fuel import — would require the Union Cabinet’s concurrence, civil aviation minister Ajit Singh said after the panel meet. The FDI note “will be moved to the Cabinet soon,” he added.

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