Panic in Chennai again after fresh rain; toll 350

December 5, 2015

Chennai, Dec 5: Occasional heavy rain on Friday evening threatened to revive the ghost of flooding in Chennai even as the battered city and its suburbs battled hard to pick up pieces of life.chennai copy

While lakhs of people in the coastal city’s worst-hit areas continued to face acute shortage of essentials, including water, power, milk and food items, a tragedy unfolded at the noted MIOT Hospital in Mannapakkam where at least 14 patients (PTI said 18) in the ICU, including five women, lost their lives because of electricity failure.

The hospital authorities were running the medical equipment through generators after the power supply was cut off but the flood water damaged many of them.

Top state officials, however, said not all deaths occurred because of lack of oxygen or failure of the ventilator.

While on one occasion, the officials said the hospital abandoned its patients, at another they said the government did its best to keep the services up even in private hospitals. State's Chief Secretary K Gnanadesikan said the deaths will be probed.

The death toll due to rain related incidents rose to 350 with around 50 people losing their lives in less then two days. As many as 43 bodies were also brought to the Government Royapettah Hospital.

Ministers heckled
The unending predicament also saw people venting anger at their Assembly representatives. Senior minister Natham Viswanathan, Sellur Raju and Gokul Indira were gheraoed and heckled by the people after they visited R K Nagar—the constituency of Chief Minister Jayalalitha—forcing them to make a hasty retreat.

Similar scenes were witnessed in several areas where people hit out at the officials complaining lack of any help from them in the crisis hour.

Viswanathan, the state’s power minister and the chief secretary later said in an official press conference at the Secretariat that relief and rescue operations were taking place in full swing and even termed them “extraordinary”.

The minister also described the Opposition’s criticism of the relief operations as politically motivated with an eye on the Assembly elections scheduled early next year. He claimed people in the worst-affected areas refused to leave their homes but accepted only food relief.

Heavy rain resumed in Chennai and its suburbs on Friday evening as the new low pressure over the Bay of Bengal still remaining stagnant. The weathermen though predicted light rain for Chennai in the next 24 hours, there was forecast of heavy to very heavy rain in Puducherry.

A senior official of Regional Meteorological Centre told Deccan Herald on Friday evening that apart from rain, strong squally wind blowing at 55 kilometres per hour would also prevail over North Tamil Nadu and Puducherry and South coastal Andhra Pradesh in the next 24 hours.

The public transport across several districts, including Chennai, was hit. The city airport was ready for partial resumption of flight operations from Saturday morning with the AAI finding the runway safe for landings and departures. Over 1.64 lakh people have been housed in 460 relief camps in four flood hit districts.

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News Network
March 5,2020

New Delhi, Mar 5: Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 per cent for the current financial year, said Labour Minister Santosh Gangwar on Thursday.

The EPFO had provided 8.65 per cent rate of interest on EPF for 2018-19 to its around six crore subscribers. The decision was taken at a meeting of the the Employees' Provident Fund Organisation's (EPFO) apex decision making body -- the Central Board of Trustee.

"The EPFO has decided to provide 8.5 per cent interest rate on EPF deposits for 2019-20 in the Central Board of Trustees (CBT) meeting today," Gangwar told reporters after the meeting here.

Now, the labour ministry requires the finance ministry's concurrence on the matter. Since the Government of India is the guarantor, the finance ministry has to vet the proposal for EPF interest rate to avoid any liability on account of shortfall in the EPFO income for a fiscal.

The finance ministry has been nudging the labour ministry for aligning the EPF interest rate with other small saving schemes run by the government like the public provident fund and post office saving schemes.

The EPFO had provided 8.65 per cent rate of interest to its subscribers for 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.

It had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13.

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News Network
February 28,2020

Feb 28: National oil marketer Indian Oil Corporation (IOC) on Friday said it is ready to supply low emission BS-VI fuels from April 1 and that there will be a marginal increase in retail prices.

The largest oil supplier has spent over Rs 17,000 crore to upgrade its refineries to produce the low-sulfur diesel and petrol, the company's chairman Sanjiv Singh told reporters here.

Without disclosing the quantum of price increase, Singh said, “there will definitely be a marginal increase in retail prices of the fuels from April 1 when the whole country will be run on new fuels, which will have a sulphur content of only 10 parts per million (ppm) as against the present 50 ppm.

“But let me assure you, we will not be burdening the consumers with a steep hike,” Singh said.

He said, state-run oil marketing companies (OMCs) have invested Rs 35,000 crore to upgrade their refineries, of which Rs 17,000 crore have been spent by IOC alone.

Earlier this week, the sell-off bound BPCL said it had invested around Rs 7,000 crore for the same. ONGC-run HPCL has not so far disclosed its readiness for BS-VI supplies or its capex on the same.

HPCL had said from February 26-27 it was ready with BS-VI fuels and that it would sell only the new fuels from March 1.

IOC switched to BS-VI fuel production a fortnight ago and all its depots and containers are ready now, Singh said.

However, he said some remote locations, where the intake is very low, will take some more time to switch. But the company is planning to drain out the entire BS-IV stock and replenish the new fuels at such locations, he added.

Further, it has been reported that the companies will have to increase prices by 70-120 paise a litre, but Singh said, to arrive such a weighted average is not possible given the complexities of each refinery.

He, however, asserted that the price hike will not be a burden on consumers.

We are not looking at this investment from a pure return on investment basis, but this is a national mandate and we have done it.

Having said that, all those countries that moved to low emission fuels are charging higher prices; and from April 1, our prices will also be benchmarked against Euro VI prices as against the present practice of the cost-plus model, Singh concluded.

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News Network
January 1,2020

New Delhi, Jan 1: Prevention of Money Laundering Act (PMLA) court in Mumbai has allowed banks that lent money to embattled liquor tycoon Vijay Mallya to utilize seized assets, news agency reported today quoting sources from the Enforcement Directorate (ED). The court also said all parties affected by the order can appeal at the Bombay High Court till January 18.

Last month, a consortium of Indian banks petitioned a London court for ex-billionaire Vijay Mallya to be declared bankrupt over ₹9,000 crore in unpaid debts. It comes as Mallya, who founded the now defunct Kingfisher Airlines Ltd, faces extradition to his home country of India.

Mallya had fled India in March 2016 and has been living in the United Kingdom since then. The 64-year-old former Kingfisher Airlines is fighting extradition to India in relation of fraud and money laundering allegations arising out of the debt acquired from the banks.

Mallya remains on bail pending the UK High Court appeal hearing in the extradition proceedings brought by India in relation to fraud and money laundering charges amounting to ₹9,000 crores. He had been arrested on an extradition warrant back in April 2017 and has been fighting his extradition in the UK courts since then.

He was granted permission to appeal against his extradition order, which is scheduled in the Royal Courts of Justice in London for February.

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