Fuel prices hiked for 15th consecutive day; Mumbai, Delhi prices at record levels

Agencies
May 28, 2018

New Delhi, May 28: Petrol and diesel prices continue to soar and touched another peak on Monday. Petrol was hiked by 43 paise to Rs 86.08 per litre in Mumbai.

This is the 15th straight hike in a row. Diesel prices on the other hand, were hiked by 44 paise to Rs 73.64 per litre in Mumbai. Petrol prices in Delhi were increased by 44 paise to Rs 78.27 per litre and diesel by 42 paise to Rs 69.17 per litre.

Since the dynamic pricing system resumed on May 14, petrol and diesel prices have risen by Rs 3.64 and Rs 3.24 respectively in the last 15 days in Delhi.

Petroleum Minister Dharmendra Pradhan had earlier said that the government will intervene to reduce prices.

Brent crude futures, the international benchmark for oil prices, traded at $74.76 a barrel on the ICE.

Union Minister Nitin Gadkari had said that subsidising petrol and diesel to bring down their retail prices will take money away from government’s social welfare schemes.

A possible drop in Venezuela's crude output after a disputed presidential election, potential US sanctions on the country as well as US' tough stance on Iran are the key price drivers.

OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply and after Washington raised concerns the oil rally was going too far, OPEC and oil industry

Indian Oil (IOC), the country's top refiner, will turn to its traditional oil suppliers, mostly in the Middle East, if U.S. sanctions against Iran result in supply disruptions, its head of finance said.

IOC is Iran's biggest Indian oil client. The company meets about 70 percent of its oil needs through annual contracts deals, mainly with Middle Eastern producers.

IOC chairman Sanjiv Singh said the government had so far not directed refiners to cut imports from Iran.

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News Network
January 22,2020

Jan 22: India's ranking in the latest global Democracy Index has dropped 10 places to the 51st spot out of 167 owing to violent protests and threats to civil liberties challenging freedoms across the country.

Prime Minister Narendra Modi's government has been criticized by rights groups and western governments after shutting off the internet and mobile phone networks and detaining opposition politicians in Kashmir.

Modi’s government has also responded harshly to ongoing protests against a controversial, religion-based citizenship law. Muslims have said their neighborhoods have been targeted, while the central government has attempted to ban protests and urged TV news channels not to broadcast “anti-national” content. Some leaders in Modi’s ruling party called for “revenge” against protesters. India’s score in 2019 was its worst ranking since the EIU’s records began in 2006, and has fallen gradually since Modi was elected in 2014.

The Economist Intelligence Unit’s 2019 Democracy Index, which provides an annual comparative analysis of political systems across 165 countries and two territories, said the past year was the bleakest for democracies since the research firm began compiling the list in 2006.

“The 2019 result is even worse than that recorded in 2010, in the wake of the global economic and financial crisis,” the research group said in releasing the report on Wednesday.

The average global score slipped to 5.44 out of a possible 10 -- from 5.48 in 2018 -- driven mainly by “sharp regressions” in Latin America, Sub-Saharan Africa, the Middle East and North Africa. Apart from coup-prone Thailand, which improved its score after holding an election last year, there were also notable declines in Asia after a tumultuous period of protests and new measures restricting freedom across the region’s democracies.

Asia Declines

Hong Kong, meanwhile, fell three places to rank 75th out of 167 as more than seven months of violent and disruptive protests rocked the Asian financial hub. An aggressive police response early in the unrest, when protests were mostly peaceful, led to a “marked decline in confidence in government -- the main factor behind the decline in the territory’s score in our 2019 index,” the group said.

In Singapore, which ranked alongside Hong Kong at 75th, a new “fake news” law led to a deteriorating score on civil liberties.

“The government claims that the law was enacted simply to prevent the dissemination of false news, but it threatens freedom of expression in Singapore, as it can be used to curtail political debate and silence critics of the government,” EIU analysts said.

China’s score fell to just 2.26 in the EIU’s ranking, placing it near the bottom of the list at 153, as discrimination against minorities, repression and surveillance of the population intensified. Still, in China “the majority of the population is unconvinced that democracy would benefit the economy, and support for democratic ideals is absent,” the EIU said.

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News Network
June 30,2020

Srinagar, Jun 30: On the deadly attack at Karachi Stock Exchange on Monday morning, a Kashmiri social activist and journalist warned that the incident is a stark reminder to all those in Pakistan supporting Jihad and attacked Pakistan prime minister Imran Khan for ignoring development agenda in Balochistan.

Yana Mir, the editor-in-chief of The Real Kashmir News, said, "Karachi Stock Exchange attack is a reminder to all those in Pakistan supporting Jihad. Remember @imrankhan that Youth is restless and they want development agenda. These young boys of BLA are also looking for a life which is settled and peaceful. Wake up Imran Khan and you Kashmiris also. Pakistan is going to finish you. Open your eyes."
Four heavily armed terrorists attacked the busy Pakistan Stock Exchange building in Karachi with grenades today, killing four security guards and a police officer before being shot dead in an exchange of fire, authorities said.

The terrorists, who arrived in a car, stormed the Karachi Stock Exchange building by firing indiscriminately and lobbed grenades at the main gate of the multi-storey building situated in the city's high-security commercial hub.

Balochistan is a well-known region rich in natural resources but the Balochis have always been deprived of basic facilities. No hospitals are available in Balochistan. If there are some then medical facilities and equipment are not available in hospitals. The education system is pathetic and similar is the case with the infrastructure: the roads, water system, agriculture and almost all fields of life.

It is pertinent to mention that enforced disappearances and abductions by the Pakistani military establishment have also been carried out regularly and for innumerable times in Balochistan. Leaders, activists, and vocal members of various student organizations have been detained by the security forces and kept in confinement. While others have been shot dead.

This crime against humanity has been going on for so long and so systematically in Balochistan that it has come to be considered as a normal state of affairs in the province. Many social and human rights activists have flagged the issue of oppression by the Pakistani establishment before the United Nations and other international agencies.

According to the Commission of Inquiry on Enforced Disappearances, an entity established by the Pakistani government, about 5,000 cases of enforced disappearances have been registered since 2014. Most of them are still unresolved.

Independent local and international human rights organisations put the numbers much higher. Around 20,000 have reportedly been abducted only from Balochistan, out of which more than 2,500 have turned up dead as bullet-riddled dead bodies, bearing signs of extreme torture.

Before being elected as Prime Minister, Imran Khan had admitted in multiple interviews about the involvement of Pakistan's intelligence agencies in enforced disappearances as well as extrajudicial killings and vowed to resign if he was unable to put an end to the practice, holding those involved responsible. But times have passed and only reports are available to narrate the true story.

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News Network
June 18,2020

New Delhi, Jun 18: The border clash between Indian and Chinese soldiers in Ladakh broke the brittle quiet – and also the sense of security for anxious Chinese nationals in India who fear a backlash with anti-Chinese sentiment spiralling in the country.

With the high altitude violent face-off in eastern Ladakh’s Galwan Valley spurring hashtags such as “Boycott China” and “Teach Lesson to China” and leading to street protests, the undercurrents of tension were evident.

Wary of being identified, some said they had been reassured by their friends but were still apprehensive for themselves and their families.

"They (Chinese families) don''t want to speak to the media. They are not going out and are worried about their security and well being. Their families are also worried back home," Mohammed Saqib, secretary general of the India China Economic & Cultural Council, told PTI.

He added that his Chinese friends in India been calling him since they heard news about Monday night’s clashes in which 20 Indian soldiers were killed -- the worst military confrontation in five decades -- and expressed concern over growing anti-China sentiments.

A Chinese national from Beijing working in Gurgaon for a Chinese mobile firm initially refused to talk, saying he did not want to speak to the media and later shared his thoughts only on condition of anonymity.

"There is talk of border standoff and tensions, but we know Indians are very warm people and that is why I have told my family that all is fine here and they should not worry," he said.

Another Chinese national working in Gurgaon said he and his family are feeling the stress amid the spiralling conflict between India and China, but many friends have been reassuring him.

"They (Chinese in India) are under a lot of stress naturally. Such a conflict puts a lot of stress as they could bear the brunt and the same applies to Indians in China," B R Deepak, professor at the Centre for Chinese and South East Asian Studies of the Jawaharlal Nehru University said.

He said it was unfortunate that the border standoff derailed the commemorative programmes aimed at strengthening ties at a time the two countries were gearing to celebrate 70 years of establishment of diplomatic ties.

Experts also feel the border clash is likely to have a significant negative impact on the economic and people to people ties.

There are scores of Chinese in India working in various Chinese firms and also those who are studying in universities like JNU.

About 3,000 Chinese people, doing business or studying in big cities in India, were stranded in India at the start of the COVID-19 crisis, and about half of them returned to China before the lockdown began on March 25.

The Chinese Embassy in New Delhi announced on May 25 that they will arrange for flights to take back students, tourists and businesspersons to five Chinese cities, including Shanghai and Guangzhou.

"It will impact the psychology of the Chinese here. There are 2,000 Chinese firms in various sectors in India which are going to be impacted," Deepak said.

Future investments from the Chinese side could also be impacted, he said.

Moreover, as far as people-to-people contacts are concerned, the number of Chinese students choosing India as a preferred destination is likely to go down, Deepak said.

Alka Acharya, another China expert, said there are two kinds of impacts of such an incident -- short term and medium term.

Usually after the initial nationalistic reaction in the short term things tend to normalise in the medium term, but with such a border clash happening for the first time in decades clearly the resonance would be much more in both India and China, said Acharya, professor at the Centre for East Asian Studies, School of International Studies, in JNU.

“Due to the impact of the COVID-19 crisis on the economy, whether India can take a hardline in terms of economics towards China, is a tricky question,” she said.

In the immediate context, there may be a dip in economic ties with calls for boycott of Chinese goods and services, Acharya said.

The manner in which this crisis is resolved will affect how ties will be affected in the medium term, she said.

The headlines have added to the anxiety.

A group of ex-armymen gathered near the Chinese embassy to protest the killing of 20 Indian Army personnel in Ladakh’s Galwan Valley. And another group of around 10 protesters belonging to the Swadeshi Jagaran Manch protested near the Teen Murti roundabout in Central Delhi.

The anti-China sentiment prevalent among the common public is also finding a reflection in government policy with sources saying the Department of Telecom (DoT) is set to ask state-owned Bharat Sanchar Nigam Ltd (BSNL) not to use Chinese telecom gear in its 4G upgradation.

Trade bodies like CAIT are also calling for a boycott of Chinese products.

And Chinese handset maker Oppo cancelled the livestream launch of its flagship 5G smartphone in the country amid protests.

Monday night’s clashes between the Chinese and Indian troops in Galwan Valley significantly escalated the already volatile border standoff between the two countries.

The casualties on the Chinese side are not yet known. However, government sources, citing an American intelligence report, claimed the total number of soldiers killed and seriously wounded could be 35.

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