Gas row: Reliance Industries slaps arbitration notice on government

May 11, 2014

Mumbai, May 11: Reliance Industries (RIL) and its partners BP and NIKO, the contractor group of the Krishna-Godavari basin (KG-D6) block, have slapped an arbitration notice on the government. They have sought the implementation of the domestic natural gas pricing guideline 2014 that was notified on January 10, 2014 – after the government approved the Rangarajan formula doubling gas prices to $8.4 per unit from April 1.

Despite RIL's insistence to put in place the gas price hike, the petroleum ministry indicated to the contractor that gas prices would only be announced for the second quarter. RIL said this has resulted in a loss to the contractor group and the government of Rs 300 crore a month.

While the ministry was to notify the new gas price for April-June quarter, the Election Commission on March 24 advised deferment of announcement till poll codes are lifted.

Reliance_IndustriesRIL's move may make things difficult for next government as they will be expected to soon tackle the issue of gas price hike. The matter may get more complex if the Lok Sabha elections throw up a fractured verdict.

The ministry's decision has forced RIL to keep selling gas at $4.2/mmbtu after April 1. RIL believes this is in contravention of the PSC and detrimental to the economic interests of the contractor group and the government.

Without any clarity, the companies said they are unable to sanction planned investments of close to $4 billion this year. In addition, this will also delay the ability of the companies to appraise and develop other significant discoveries made last year. Overall, they were planning to invest $8-10 billion in the next few years to significantly increase production from the KG-D6 block.

This domestic production is essential for not only meeting India's energy needs but also helping conserve foreign exchange which is required for imports of natural gas into India.

The RIL-led companies have also promised to work with the government to achieve a prompt and efficient resolution of the ongoing dispute.

Debashish Mishra of Deloitte told dna, "Any new gas production in the country is possible only at certain point price and $4.2 is not that price. Prices will have to be increased to promote exploration in country and price of $8.4 is certainly better than importing gas at $16-$18."

In a note to media, RIL has explained what forced RIL to file a notice of arbitration on the government. They believe that they were left with no other option.

"Having made a major discovery in 2013, we were getting ready to start investing in the development of discovered resources. We were upbeat over the opportunity to invest over $8-10 billion in development of discovered resources over the next 3-4 years. These investments could have significantly increased our production by 2019. This would also help the country avoid LNG imports of more than $75 billion," claimed RIL.

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Agencies
July 30,2020

Mumbai, Jul 30: Counterfeiting incidents have increased 24 per cent in the country in 2019 over the previous year, creating an over Rs 1 lakh crore hole in the economy, according to a report.

The report also said counterfeiters are having a free run due to the pandemic-driven disruptions to organised supply chains and the resultant spike in consumer demand.

According to the report by ASPA, a self-regulated industry body of anti-counterfeiting and traceability solutions providers, counterfeiting has risen steadily in the last few years, and exploiting the pandemic as a cover for their activities.

Between February and April 2020, over 150 incidents of counterfeiting cases were reported, mostly about fake PPE kits, sanitisers and masks taking advantage of the high demand for these products, it noted.

"There was a 24 per cent increase in counterfeiting in 2019 over 2018, leading to the loss of more than Rs 1 lakh crore to the overall economy," said Nakul Pasricha, president of Authentication Solution Providers Association.

The association works with global authorities like the International Hologram Manufacturers Association, Counterfeit Intelligence Bureau of the Interpol, and domestic industry lobbies like Ficci, he said.

Counterfeiting is a universal issue and is 3.3 per cent of global trade, according to the OECD data, impacting social and economic development across the world.

The report lists the currency, FMCG, alcohol, pharma, documents, agriculture, infrastructure, automotive, tobacco, lifestyle and apparel, as the 10 sectors impacted most by counterfeiting.

Among these, currency, alcohol and FMCG continue to be the top three sectors with the highest counterfeiting in the last two years. The FMCG sector is most vulnerable, as counterfeit incidents rose 63 per cent between 2018 (79) and 2019 when the reported cases jumped to 129.

Within the states, the fakers have a free run in Uttar Pradesh, Bihar, Rajasthan, Madhya Pradesh, Bengal, Punjab, Jharkhand, Delhi, Gujarat, and Uttarakhand, calling for urgent actions to frame anti-counterfeiting policy measures.

According to the report, UP continues to be on top followed by Bihar, Rajasthan, and together these three states represent almost 45 per cent of all counterfeiting reported in the last two years.

What is more alarming is that counterfeiting is not limited to high-end luxury items today, as common everyday items as fake cumin seeds, mustard cooking oil, ghee, hair oils, soaps, baby care vaccines and medicines are aplenty in the markets.

"There is an urgent need for building and nurturing authentication ecosystems in the country with the active involvement and active participation of all stakeholders," said Pasricha.

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Agencies
May 23,2020

New Delhi, May 23: The nationwide lockdown will no longer help India in its fight against COVID-19, and in its place community-driven containment, isolation and quarantine strategies have to be brought into play, leading virologist Shahid Jameel said.

The recipient of Shanti Swarup Bhatnagar Prize for Science and Technology also stressed that testing should be carried out vigorously to identify coronavirus hotspots and isolate those areas.

"Our current testing rate at 1,744 tests per million population is one of the lowest in the world. We should deploy both antibody tests and confirmatory PCR tests. This will tell us about pockets of ongoing infection and past (recovered) infection. This will provide data to open up gradually and let economic activity resume," Jameel told PTI in an interview.

He stressed that testing has to be dynamic to continuously monitor red, orange and green zones and change these based on that data.

About community transmission of COVID-19 in India, Jameel said the country reached that stage long ago.

"We reached community transmission a long time ago. It's just that the health authorities are not admitting it. Even ICMR's own study of SARI (severe acute respiratory illness) showed that about 40 per cent of those who tested positive for SARS-CoV-2 did not have any history of overseas travel or contact to a known case. If this is not community transmission, then what is?" he posed.

Lockdown bought India time in its fight against coronavirus, but continuing it is unlikely to yield any further dividend, Jameel said.

"Instead, community-driven local lockdowns, isolations and quarantines have to come into play. Building trust is most important so that people follow rules. A public health problem cannot be dealt with as a law-and-order problem."

The nationwide lockdown, initially imposed from March 25 to April 14, has been extended thrice and will continue at least till May 31. The virus has claimed 3,720 lives and infected over 1.25 lakh people in the country so far.

Jameel has expertise in the fields of molecular biology, infectious diseases, and biotechnology. He is the CEO of Wellcome Trust/Department of Biotechnology's India Alliance and is best known for extensive research in Hepatitis E virus and HIV.

He said COVID-19 will eventually be controlled through herd immunity, which is acquired in two ways – when a sufficient fraction of the population gets infected and recovers, and with vaccination.

"It is estimated that for SARS-CoV-2 at least 60 per cent of the population would have to be infected and recovered, or vaccinated. This will happen over the course of the next few years," Jameel said.

Herd immunity is reached when the majority of a population becomes immune to an infectious disease, either because they have become infected and recovered, or through vaccination. When that happens, the disease is less likely to spread to people who aren't immune, because there just aren't enough infectious carriers.

"India has 1.38 billion people, a population density of about 400/sq km and a healthcare system ranked at 143 in the world. If we allow 60 per cent people to get infected quickly in the hopes of herd immunity, that would mean 830 million infections," Jameel said.

"If 15 per cent need hospitalization that means about 125 million isolation beds (we have 0.3 million). If five per cent need oxygen and ventilatory support, this amounts to about 42 million oxygen support and ICU beds; we have 0.1 million oxygen support beds and 34,000 ICU beds. This would overwhelm the healthcare system causing mayhem," he said.

Jameel said if the population level mortality is 0.5 per cent that would mean 40 lakh deaths. "Are we prepared to pay this price for herd immunity in the short term? Clearly not," he said.

He said it is unlikely that a vaccine would be available by the end of the year.

"Even then, we don't know yet how long it would give protection – weeks, months, one year, a few years? I don't think we will return to pre-coronavirus days for at least the next 3-5 years. This is also a chance to evaluate if we want to return to those unsustainable, environment-damaging ways. COVID-19 is a timely warning to reform our way of living," he said.

Jameel said it is hard to predict but plausible that COVID-19 would return in second or third wave.

"Later waves come when we don't understand the disease and become lax. A comparison to Spanish Flu is not entirely valid because in 1918 no one knew what caused it. No one had seen a virus till the mid-1930s as the electron microscope needed to view those was invented in 1931," he said.

"Today we know a lot more about the pathogen, its genetic makeup, how it transmits and how to prevent it. We need to be sensible and follow expert advice," he said.

If there is any scientific evidence linking deforestation, rapid urbanisation, climate change with pandemics like COVID-19, he said zoonotic viruses -- those that jump from animals to humans -- happen so when wild animal–human contacts increase.

"Deforestation destroys animal habitats bringing them closer to humans. When you cut forests, bats come to roost on trees closer to human habitations. Their viruses in secretions/stool get transmitted to domestic animals and on to humans. This happened clearly with Nipah virus outbreak in Malaysia in 1997-98 from fruit bats to pigs to humans," he said.

"COVID-19 possibly arose in wet animal markets due to dietary habits that bring all kinds of live and dead wild animals in close contact with humans," Jameel added.

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News Network
April 11,2020

New Delhi, Apr 11: As India battles the Covid-19 crisis, Prime Minister Narendra Modi on Saturday held a video conference with chief ministers primarily to take their feedback on whether the 21-nation-wide lockdown be extended beyond April 14 to stem the tide of the infections.

The Central government is understood to have also obtained views on the issue from all the relevant agencies and stakeholders involved in the efforts to contain the spread of the pandemic.

The video conference, which began at 11am, comes amidst indications that the central government may extend the nationwide lockdown with some possible relaxations even as Punjab and Odisha have already announced extending the lockdown beyond April 14 when the current spell of 21-day shutdown across the country ends on Tuesday.

The Union Home Ministry has sought views of state governments on various aspects, including whether more categories of people and services need to be exempted. In the current lockdown only essential services are exempted.

This is for the second time the prime minister is interacting with the chief ministers via video link after the lockdown was imposed.

During his April 2 interaction with chief ministers, Modi had pitched for a "staggered" exit from the ongoing lockdown.

A PTI tally of numbers reported by various states as on Thursday at 9.30pm showed a total of 7,510 having been affected by the virus nationwide so far with at least 251 deaths. More than 700 have been cured and discharged. However, the last update from the Union Health Ministry put the number of confirmed infections at 7,447 and the death toll at 239.

Addressing floor leaders of various parties who have representation in Parliament, Modi had on Wednesday made it clear that the lockdown cannot be lifted in one go, asserting that the priority of his government is to "save each and every life".

According to an official statement after the Wednesday interaction, the prime minister told these leaders that states, district administrations and experts have suggested extension of the lockdown to contain the spread of the virus.

Before the lockdown was announced on March 24, the prime minister had interacted with the chief ministers on March 20 to discuss ways and means to check the spread of the novel coronavirus.

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