Petrol price may be cut by Rs 1.6 a litre later this month

October 3, 2012

petrol

New Delhi, October 3: Petrol price may be cut by about Rs 1.60 per litre later this month as appreciation of rupee against the US dollar has helped state firms make profit on the fuel.

Indian rupee appreciated to five-month high since the government announced allowing foreign direct investment (FDI) in multi-brand retailing. This has eased the cost of imports for oil firms, helping them make profit on sale of petrol.

"Yes, there is about Rs 1.60 per litre profit on petrol since October 1. But we want this trend to stabilise before we think of cutting retail prices," a senior executive at one of the three state-owned fuel retailers said.

Petrol price was last revised on July 24 when it was raised by 70 paise to Rs 68.48 per litre in Delhi. It was last cut on June 3 when rates were reduced by Rs 2.02 per litre.

The current profit is mainly on account of strengthening of rupee -- from Rs 55.58 to a US dollar average in the second half of August to Rs 54.12 last fortnight.

Also, the price of international gasoline, against which the domestic retail prices are benchmarked, have eased from USD 126.11 per barrel to USD 122.31.

Together, these have helped oil firms, which lost about Rs 6,000 crore in revenue on selling

petrol below cost this fiscal, make profits.

Rupee has further appreciated to Rs 52.28, which would further give then scope for a price cut.

"We are committed to passing on any gains that we make but all we are wanting to ensure is that this is not a temporary trend which can reverse in near future," the executive said.

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Agencies
July 8,2020

The Jamaat-e-Islami Hind (JIH) has urged Muslims to take precautions during Eid ul-Adha (Bakrid), to be celebrated in the last week of July, and has issued guidelines on offering prayers and sacrifices.

"The namaz should be offered by adhering to the social distancing norms at eidgahs and mosques. Muslims should offer the Eid prayer at home in the same manner as they had done during Eid ul-Fitr in areas where restrictions have been imposed due to COVID-19," it said.

For the sacrifice of animals, a part of the festival, the JIH said "precautionary" measures should be taken due to the pandemic.

"Don't offer qurbani on roads, footpaths and pathways. Ensure the highest level of cleanliness and hygiene. Ensure that you bury the blood and entrails of the animal after qurbani or deliver it at the designated spot of garbage collection," the JIH said in a statement.

The JIH said it would be appropriate to form a committee few days before the Eid ul-Adha, which would keep an eye on the situation, remain in touch with the local administration and offer cooperation towards maintaining the law and order in the area.

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News Network
January 21,2020

Amaravati, Jan 21: Telugu Desam Party president N Chandrababu Naidu and at least 17 MLAs of his party were taken in police custody late on Monday as they tried to conduct a foot march from the state assembly to nearby Mandadam village in violation of prohibitory orders.

TDP leaders started off on the march after staging a sit-in near the assembly main entrance following the suspension of 17 MLAs from the House for the day.

They were protesting the AP Decentralisation and Inclusive Development of All Regions Bill, 2020, that was passed by the assembly, enabling the establishment of three capitals for the state.

The TDP leaders were taken to the Mangalagiri police station.

Meanwhile, tensions prevailed at the Jana Sena Party headquarters at Mangalagiri as police prevented its president Pawan Kalyan from proceeding to the Amaravati region to speak to protesters fighting for the retention of only one capital for the state.

DIG Kanti Rana Tata and other senior police officials reached the Sena office and blocked the exit of Kalyan and political affairs committee chairman Nadendla Manohar, resulting in an argument.

Kalyan asked how could police impose restrictions within his own office.

Scores of Sena workers gathered outside the office even as a large posse of police was posted to thwart Kalyan and other leaders' plans.

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News Network
February 14,2020

Feb 14: R K Pachauri, a former chief of The Energy and Resources Institute, passed away on Thursday after a prolonged cardiac ailment, TERI Director General Ajay Mathur said.

He was 79.

"It is with immense sadness that we announce the passing away of R K Pachauri, the founder Director of TERI. The entire TERI family stands with the family of Dr Pachauri in this hour of grief," Mathur said in a statement issued by the TERI.

"TERI is what it is because of Dr Pachauri's untiring perseverance. He played a pivotal role in growing this institution, and making it a premier global organisation in the sustainability space," said Mathur, who succeeded Pachauri at TERI in 2015. Pachauri was admitted to Escorts Heart Institute in the national capital where he underwent open heart surgery and was put on life support on Tuesday, sources said.

In the statement issued by TERI, its Chairman Nitin Desai hailed Pachauri's contribution to global sustainable development as "unparalleled".

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