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Fuel prices won't be hiked, for now: Jaipal Reddy

[email protected] (NDTV)
September 7, 2012
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New Delhi, September 7: Oil Minister Jaipal Reddy today ruled out an immediate hike in fuel prices, saying there is no such plan. Mr Reddy spoke to the media at an Indian Oil event in New Delhi.

Sources have informed NDTV that the hike in all fuel prices has been deferred by a week.

"It is my duty as a minister to bring out the facts in front of the Cabinet Committee of Political affairs…don’t know when the CCPA will take up the issue,” he said, adding that there is a need to reduce the under-recoveries of oil marketing companies.

This led to an immediate drop in the share prices of oil marketing companies, with Bharat Petroleum falling the most at 3 per cent. Hindustan Petroleum and Indian Oil also saw selling pressure. HPCL was down 2.75 per cent, while IOC traded 1.9 per cent lower.

Indian Oil chairman R.S. Butola, who was also present at the event, said oil companies were currently losing nearly Rs. 6 per litre on petrol sales.

"There is a need to raise petrol prices. We are in consultations with our colleagues at other oil marekting companies and stakeholders," Mr Butola said.

There were reports on Thursday that oil companies were going to hike the price of petrol by as much as Rs. 5, and that prices of diesel and kerosene, which are regulated, will increase next week.
State-run oil marketing companies are losing Rs. 550 crore everyday on under-recoveries as a result of higher crude prices in the global markets.

They make a loss of Rs. 17/litre on diesel sales, Rs. 32.7/litre on kerosene sales, and Rs. 347/cylinder on cooking gas sales every day.


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News Network
January 27,2020

New Delhi, Jan 27: The government on Monday issued the preliminary information memorandum for 100 per cent stake sale in national carrier Air India. As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as per the bid document issued on Monday.

Management control of the airline would also be transferred to the successful bidder.

The government has set March 17 as the deadline for submitting the Expression of Interest (EoI).

EY is the transaction adviser for Air India disinvestment process.

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Agencies
January 21,2020

Pune, Jan 21: The Pune session court on Tuesday rejected the bail application of accused Vikram Bhave in the Dabholkar murder case.
Last year, Pune Sessions Court had granted an extension of 90 days to the Central Bureau of Investigation (CBI) to file a charge-sheet against Bhave.

On August 17, 2019, the court had rejected Bhave's bail plea.

During the course of hearing, Special Public Prosecutor (SPP) Prakash Suryavanshi, appearing for the CBI, had in June last year contended that Bhave helped the assailants to escape.

The CBI had arrested Bhave and another accused Sanjeev Punalekar from Mumbai on May 25, 2019 in connection with the matter.

Founder of the Maharashtra Andhashraddha Nirmoolan Samiti (MANS), Dabholkar was shot dead by bike-borne assailants while returning home from a morning walk on August 20, 2013. 

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News Network
February 27,2020

New Delhi, Feb 27: An Indian Air Force aircraft on Thursday evacuated 76 Indians and 36 foreign nationals from the coronavirus-hit Chinese city of Wuhan.

The C-17 Globemaster III transport aircraft was sent to Wuhan on Wednesday and it carried 15 tonnes of medical supplies for coronavirus-affected people in China.

On its return, the aircraft brought back 112 people, including 23 citizens from Bangladesh, six from China, two each from Myanmar and the Maldives and one each from South Africa, the US and Madagascar.

Earlier, India had evacuated around 650 Indians from Wuhan in two Air India flights.

“In all 723 Indian nationals and 43 foreign nationals have been evacuated from Wuhan, China, in these three flights,” the Ministry of External Affairs (MEA) said.

On the medical supplies delivered by India to China, the MEA said they would help augment the country’s efforts to control the coronavirus outbreak which had been declared as a public health emergency by the World Health Organisation.

“The assistance is also a mark of friendship and solidarity from the people of India towards the people of China as the two countries also celebrate 70th anniversary of establishment of diplomatic relations this year,” it said.

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