Prime Minister Manmohan Singh today stressed the need for undertaking a phased rationalization of domestic energy prices to bring them in line with world prices. He said this is needed to meet the country's target of rapid, inclusive and sustainable growth.

Dr. Singh was laying the foundation stone for the 20, ooo Crore rupee Integrated Expansion project of the Kochi Refineries at Ambalamugal this evening.

The Prime Minister pointed out that energy remains underpriced in the country. He called upon the central and state governments to work together to create awareness among the public on the need for curbing energy subsidies.

Dr. Singh said Bharat stage IV fuel will be made available in 37 more cities by 2015. Speaking at the function, union Minister of Petroleum and Natural Gas Veerappa Moily said the country will become self-sufficient in oil and gas by 2030.