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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.

Bengaluru, Mar 12: Imarti Devi, who recently resigned as Congress MLA from Madhya Pradesh, on Wednesday said that she was happy with Jyotiraditya Scindia's decision to join the BJP.

Imarti said: "All 22 MLAs are here (in Bengaluru) on their own. We're happy that Scindiaji has taken this decision. I'll always stay with him even if I had to jump in a well."

"When we were in the Congress, Kamal Nathji never heard us," she said.

Another rebel leader and former minister Mahendra Singh Sisodia said: "Betrayal is not done by Jyotiraditya Scindia. Instead, betrayal was done by the Congress and Kamal Nathji."

"Congress betrayed the people of Madhya Pradesh. We are with Jyotiraditya Scindia," he said.

Lucknow, Jun 2: Bahujan Samaj Party chief Mayawati on Tuesday said protests in the US after the death of George Floyd, an African-American man, is a clear message to the world that a common man's life has value.

She said this is also guaranteed by the India Constitution, but the governments don't follow it, resulting in the current plight of migrants workers.

Floyd, a 46-year-old restaurant worker from Houston, died in Minneapolis on Monday after a white police officer pinned him to the ground. Video footage showed the officer kneeling on Floyd's neck as he gasped for breath, sparking widespread protests across the US.

"Floyd's killing by police and the 'Black lives matter' agitation in the US have given a clear message to the world that a common man's life has value and it should not be taken for granted," Mayawati said in a tweet in Hindi.

"India's constitution guarantees independence, security, self-respect and pride and governments should give special attention to it. If it was followed, crores of migrants labourers would not have to witness such bad days," she added.

She also demanded better coordination between states to check the spread of coronavirus and said Centre should intervene.

"While coronavirus patients are rising, there is lack of coordination between states and with the Centre, and allegation and counter-allegations are going on and sealing of state borders is unjustified and it is weakening the fight against the virus.  The Centre should intervene," she said in a separate tweet.