Govt unleashes major privatisation reforms for coal, defence, power distribution and space

News Network
May 17, 2020

New Delhi, May 17: Spelling out the government’s fourth tranche of initiatives towards achieving Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’, Union Finance Minister Nirmala Sitharaman on Saturday announced significant structural reforms in eight sectors of the economy — coal, minerals, defense production, aviation, power distribution in Union territories, space and atomic energy.

Addressing her fourth and the second-last press conference, Sitharaman said crucial sectors such as coal production and exploration, defence production and space would see an increased participation from private entities.

Coal sector:

In the realm of coal exploration, the government has decided to liberalise the entry norms for private entities, which would mean that any interested party could bid for a coal block and sell it in the open market. The minister said that the government would do away with all the eligibility conditions at the time of bidding for a coal block, except requiring an “upfront payment with a ceiling.”

Nearly 50 coal blocks would be offered to private players immediately, revealed Sitharaman.

She further said that Rs 50,000 crore would be spent by Centre in creating ‘coal evacuation’ infrastructure, which would expedite the transport of mined product to the destination.

Defence sector:

In defence production, Sitharaman revealed that the government would raise the foreign direct investment (FDI) limit in the sector from current 49 per cent to 74 per cent. Further, the government would also work towards corporatising the ordnance factory boards. “Corporatising doesn’t amount to privatization,” added Sitharaman.

In a bid to boost indigenous production of defence products and gave an impetus to Make in India, Sitharaman said that the government was in a process of notifying a list of weapons/platforms for an import ban with year-wise timelines.

These decisions would also help in reducing huge import bills, the finance minister said.

Privatisation of electricity:

In another announcement that could have an effect on electricity charges in the union territories, Union Finance Minister Nirmala Sitharaman announced on Saturday that power departments and utilities in all the centrally administered territories would be privatised.

Sitharaman said that the proposed move would lead to better service to consumers and improvement in operational and financial efficiency in distribution.

The finance minister said that decision was guided by 'sub-optimal' utilisation of performance of power distribution and supply'.

She said that the move to that effect would provide a model for emulation by other utilities across the country, in what could be an indicator of what's in the pipeline for utilities in other states as well.

Sitharaman said that the privation reform was in line with the tariff policy reforms and would help in enhancing consumer rights, promote industry and improve the overall sustainability of the sector.

Space sector:

Sitharaman also announced the opening up of the space exploration sector for private players. Till date, the government-run Indian Space Research Organisation (ISRO) has held a monopoly on all activities concerning space exploration and satellite launches.

The Indian private sector will be a co-traveller in India's space sector journey, said Sitharaman, while announcing a series of structural reforms in eight crucial areas of the economy. The Union Finance Minister was addressing her fourth press conference in as many days, as a follow-up towards realising Prime Minister Narendra Modi's vision of 'atmanirbhar Bharat', which was spelled out in his video address on May 12.

Sitharaman said that the reforms in the space sector will provide a level-playing field for private companies in satellite launches and space-based services.

She said that the private sector would be allowed to use ISRO facilities and other assets to improve their capacities. Stating that the government would provide predictable policy and regulatory environment to private players, Sitharaman also disclosed that future projects for planetary exploration and outer space travel among others would be opened up for private entities.

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News Network
April 2,2020

Mumbai, Apr 2: NCP chief Sharad Pawar on Thursday

urged Muslims to observe Shab-e-Barat staying inside their homes, and also suggested that the birth anniversary celebrations of Dalit icon Dr B R Ambedkar be postponed in view of the coronavirus outbreak.

Pawar said Ram Navami, being observed on Thursday, is celebrated with fervour every year across the country.

"Unfortunately, there is this threat of coronavirus this year and we have to observe some restrictions...but I am sure people must be remembering Lord Ram staying inside their homes," he said in his address via Facebook.

Shab-e-Barat, also known as the night of forgiveness,will be observed on April 8.

Members of the Muslim community visit graveyards to remember their relatives who are no more, Pawar said, and called for taking precautions to avoid gathering of people given the coronavirus crisis.

Pawar said congregation such as the one held last month in Delhi's Nizamuddin area by Tablighi Jamaat could have been avoided, and urged people to ensure there is no repeat of such meetings on Shab-e-Barat.

"The meeting should have been avoided, but it was notand others may have to pay for it," Pawar said referring to the religious meeting in the national capital.

He said the "possibility of some people who attended the meeting carrying the disease cannot be ruled out" and pressed for maintaining discipline given the situation caused by the COVID-19 outbreak.

"Shab-e-Barat is on April 8. Muslims remember their relatives, who are not more, by visiting kabrastan (graveyard). It should be observed inside home. Precaution should be taken to see there is no repeat of the Nizamuddin meeting-like episode," he said.

The birth anniversary of Ambedkar, the architect of the Indian Constitution, is observed on April 14.

Pawar said people should also think about postponing Ambedkar's birth anniversary celebrations.

"We normally celebrate it (the anniversary) for two or so months. We should think whether we should really observe the programme at this juncture (given the coronavirus threat).

If we come together, we may have to face health issues," the former Union minister said.

He said in general, 90 per cent people have been observing the lockdown, but 10 per cent are not doing so.

The Centre and the Maharashtra government may have to extend the lockdown period if discipline is not observed till April 14 (till when the lockdown is in force), he said, urging people to toe the line in the interest of each other.

Pawar also praised Chief Minister Uddhav Thackeray, the state administration and police for working round-the- clock, and asked people to cooperate with them by staying at home.

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News Network
April 14,2020

Thiruvananthapuram, Apr 14: Only three fresh COVID-19 cases were reported in Kerala on April 13, while 19 confirmed patients, who were undergoing treatment, tested negative for the infection, according to the COVID-19 Outbreak Control and Prevention State Cell, Health and Family Welfare Department, Kerala government.

As of Monday evening, there are just 178 positive COVID-19 cases in the State.

Twelve patients from Kasargod district, three each from Pathanamthitta and Thrissur districts, and one from Kannur district are among those who have recovered from COVID-19 and tested negative.

To date, there have been a total of 378 confirmed cases of coronavirus in Kerala.
Meanwhile, Kerala Chief Minister Pinarayi Vijayan has demanded that State Relief Funds be made eligible for Corporate Social Responsibility (CSR) funding by making changes to the Companies Act.

Addressing the media, the Chief Minister said, "The Government of Kerala is of the opinion that contributions to the Chief Minister's Disaster Relief Funds should be included as an eligible expenditure under CSR. In a federal setup, the Relief Funds set up by the States for a public purpose cannot be excluded from the eligibility criteria when the same is available for a Central Fund set up with similar objectives and aims."

The Kerala CM said that he has written to the Prime Minister in this regard urging him to make the necessary changes.

Vijayan once again reiterated the demand of the State government to bring back stranded Keralites from overseas and added that, "We will extend all possible help and support to the Pravasi Malayalees when they come back also including rehabilitation of those who would lose their jobs in the backdrop of the pandemic outbreak."

He added that a decision on extending the lockdown in the State will be taken after taking into account the decision of the Central government in the address by the Prime Minister scheduled for April 14.

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AJS
 - 
Tuesday, 14 Apr 2020

HATS-OFF TO BOLD CHIEF MINISTER OF KERALA MR. VIJAYAN... BAHUBALI

THE ONLY CHIEF MINISTER TO APPROACH GCC FOR HIS PEOPLE.... A ROLL MODEL FOR OTHER STATES AND CENTER

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News Network
July 10,2020

London, Jul 10: India's Reliance will load its first cargo of Venezuelan crude in three months this week in exchange for diesel under a swap deal the parties say is permitted under the US sanctions regime on the Latin American country, according to a Reliance source and a shipping document from state oil firm PDVSA.

Washington has exempted some Venezuelan oil trade from sanctions when transactions are in exchange for fuel and food or to repay debts rather than for cash. But that trade slowed as the US tightened restrictions and refiners, shippers and insurers have been steering clear of Venezuela to avoid any risk they may fall foul of sanctions.

Washington aims to deprive Venezuelan socialist President Nicolas Maduro of his main source of revenue with the sanctions, which have driven Venezuelan oil exports to their lowest level since the 1940s.

Reliance gave the US State Department and the Office of Foreign Assets Control (OFAC) notice of the diesel swap and received word back that the policies that allowed the transaction were still in place, the Reliance source told Reuters.

Reliance has previously said that its supplies of fuel to PDVSA in exchange for crude were permitted under sanctions.

An oil tanker named Commodore would load the cargo of crude in Venezuela and ship it to India, the tanker's manager NGM Energy said.

"All details of the transaction and transportation were shared with US authorities, who confirmed that the U.S. policy authorizing such transactions remained in place," NGM Energy said in a statement to Reuters.

"The shipment is made in connection with the humanitarian exchange of oil for diesel fuel."

The Commodore is loading a 1.9-million barrel cargo of crude for Reliance at Venezuela's main oil port of Jose, according to an internal PDVSA cargo schedule seen by Reuters.

The Liberian-flagged Commodore was at the Jose Terminal on Thursday, ship tracking data on Refinitiv Eikon showed.

The US State Department, Treasury's enforcement arm OFAC, and PDVSA did not immediately respond to a request for comment.

Reliance has a swap deal to provide diesel to Venezuela in exchange for fuel but has not received a cargo of crude since April. Sources at Indian refiners told Reuters earlier this year they planned to wind down their purchases of Venezuelan oil to avoid any problems with supply due to sanctions.

Other long-time customers of PDVSA, including Italy's Eni and Spain's Repsol, have continued taking cargoes of Venezuelan crude this year under permission granted by the US Treasury Department to exchange the oil for diesel supply as part of debt repayment deals, according to sources from the companies.

NGM Energy also manages the Voyager I tanker, which the United States removed from its list of sanctioned vessels last week after NGM and the ship's owner Sanibel Shiptrade said they would increase measures to ensure vessels complied with international sanctions.

"Last month, NGM Energy SA adopted a firm policy of not allowing vessels under its commercial management to trade to Venezuela, or to carry Venezuelan petroleum cargoes, absent US government authorization," NGM said.

"NGM continues to stand by that pledge."

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