Price of electricity to increase by Rs one per unit: Shinde

New Delhi, May 20 (ANI): Union Power Minister Sushil Kumar Shinde said here today that the price of electricity would increase by Rs one per unit following the increase in the prices of natural gas.

The government on Wednesday revised administrative pricing mechanism of natural gas.
CNG will become costly by about 20 per cent and the price of natural gas has also doubled.

The government has revised the administrative price mechanism of natural gas from Rs 3200 to Rs 6,118. It was last revised last in 2005.

The revision was considered essential. Power and fertiliser sectors are the major customers of Indian gas are. The cost of production for fertiliser plants is expected to go up but it will be offset by government subsidy.

Since the fertilisers are subsidised, the revision is not likely to have much impact on fertiliser prices, but for the power sector, the over-all increase would be 2.75 per cent.

The government is likely to earn an additional revenue of Rs 3500 crore per annum from ad valorem taxes.

OIL is expected to gain Rs 500-Rs 700 crore per annum while ONGC is likely to earn Rs 6000-Rs 7000 crore more per annum. (ANI)

RNRL chief Anil Ambani meets Prime Minister

New Delhi, May 12 (ANI): Reliance Natural Resources Limited (RNRL) chief Anil Ambani met Prime Minister Dr Manmohan Singh at his official residence on Wednesday morning and reportedly expressed his views on the Supreme Court”s verdict on the Krishna Godavari Basin Gas row.

Before his meeting with Dr Singh that lasted for an hour, Ambani also met the Prime Minister”s Principal Secretary, TKA Nair, for about ten minutes.

He is also expected to meet Power Secretary P Uma Shankar and Power Minister Sushil Kumar Shinde later in the day.

Earlier on May 7, Ambani had said that he would not challenge the verdict of the apex court that that gave his brother, Mukesh”s Reliance Industries Limited (RIL), the advantage in the Krishna Godavari Basin Gas row.

Delivering a judgement on the Krishna Godavari Basin Gas row between Anil Ambani”s RNRL and Mukesh Ambani”s RIL, a three judge bench of the apex court, consisting former Chief Justice K G Balakrishnan, Justices P Sathasivam and B Sudershan Reddy said only the government can decide rates of these resources.

Quashing the family formula evolved by Kokilaben Ambani to solve the long drawn out dispute between her two sons, Anil and Mukesh, over sharing of gas, the court asked both to solve the matter through renegotiations within six weeks.

The apex court had said the RIL cannot supply gas to the RNRL and its power plants at 234 dollars per unit, which is what the brothers had agreed to in a private agreement in 2005.

The RIL has since challenged the price, arguing that it should be allowed to charge more, because the government has asked for higher prices.

The court held that gas belongs entirely to the government and it alone has the right to decide gas prices.

Anil maintained that he was rather looking forward to successful re-negotiation with RIL over the next 6 weeks as directed by the court.

Aiming to arrest the fall of the Anil Dhirubhai Ambani Group (ADAG) stocks in the market, Anil maintained that the court had safeguarded the interest of 2.5 million RNRL shareholders.

The stock is trading down by 20 percent ever since the verdict came in. (ANI)

Iran annoyed over Pak’s delay in finalising electricity import deal

Islamabad, Mar.23 (ANI): Iran has expressed serious discontent over the delay on the part of Pakistan in finalising the deal regarding importing electricity from it.

Iran’s Ambassador to Pakistan Masha’allah Shakeri said Tehran had signed a memorandum of understanding (MoU) with Islamabad in 2008 regarding providing 1,135MW of electricity, but even after 15 months no final agreement had been reached.

Shakeri said he has met Prime Minister Yousuf Raza Gilani, Power Minister Raja Pervez Ashraf and several top Pakistani officials in the past year and half but there has been no response from Islamabad.

“I’m perplexed. I can’t understand what’s wrong with the Iranian offer. Time is of the essence. Should Iran wait forever. What was the need to sign the MoU,” The Dawn quoted Shakeri, as saying.

He said Iran is ready to help Pakistan overcome the numerous hurdles it is currently facing, and could also offer financial support in future.

“Honestly we would like to go with Pakistan. Our objective is to address Pakistan’s immediate electricity needs. We are ready to build infrastructure. Our cooperation can even include financial assistance,” Shakeri said.

Iran, which is the world’s 19th largest electricity producer, is eyeing becoming a regional power hub, and says that several major countries such as Russia, India, Qatar, the UAE, Jordan, Syria and Oman have shown interest in buying electricity from it.

(ANI)

Congress to decide over alliance with NCP on Sunday

New Delhi, Sep 12 (ANI): Union Heavy Industries Minister Vilasrao Deshmukh said that the decision on alliance with Nationalist Congress Party (NCP) for the upcoming Maharashtra Assembly polls would be taken by Sunday.

Speaking to the media after a meeting with Congress president Sonia Gandhi, Deshmukh said the party will take a decision on the continuation of alliance by Sunday.

On Friday the Congress High Command appointed Deshmukh as the chairman of party’s poll management committee and Union Power Minister Sushil Kumar Shinde as the chairman of campaign committee for the Maharashtra polls.

Both Deshmukh and Shinde held an hour-long meeting with the party’s central leadership.

He said, Sonia Gandhi had asked him to coordinate party’s election work by taking everyone into confidence.

Earlier, the Congress Party asked the Sharad Pawar led NCP to accept new ground realities during seat sharing. (ANI)

Gilani’s silence suggests his involvement in massive corruption : PML-Q

Islamabad, Sep.8 (ANI): The Pakistan Muslim League Quaid (PML-Q) has condemned Prime Minister Yousaf Raza Gilani for refusing to take notice of involvement of his cabinet ministers in large scale corruption.

Senior PML-Q leader Makhdoom Faisal Saleh Hayat said Gilani’s reluctance to take action on such charges against his ministers indicates that he too is a artner in crime, The Daily Times reports.

“The PM’s silence regarding the corruption of his ministers despite repeated pointation by the opposition proves he is also involved in various shady deals,” a press statement released by Hayat said.

Referring to the reports regarding the purchase of a house by Water and Power Minister Raja Pervez Ashraf in London for a whopping 4.4 million pounds, Hayat claimed that Ashraf had misappropriated funds from rental power project deals to earn huge money.

Hayat appealed to the Supreme Court to take suo motu notice of this ‘blatant corruption’ and direct the government to stop the rental power projects. (ANI)

Supreme Court issues notices to CBI, Kerala Govt on Vijayan case

New Delhi, Aug 31 (ANI): The Supreme Court on Monday issued notices to Central Bureau of Investigation (CBI) and Kerala Government over the state Governor’s permission to CBI to prosecute Pinarayi Vijayan.

The apex court was hearing the petition filed by Vijayan, challenging the governor’s sanction for his prosecution by the CBI.

Vijayan is the politburo member of Communist party of India (Marxist) (CPM)

A bench of the apex court comprising Justice R.V. Ravindran and Justice B.S. Sudarsan Reddy admitted Vijayan’s lawsuit directly for hearing.

The bench stated that the petition involved several important questions of law.

Vijayan is facing the charges of by passing the regulations while awarding a contract to a Canadian based company, SNC Lavalin for renovating three power plants when he was Kerala’s power minister in 1997.

The charges against Vijayan were filed in a special court after Kerala Governor R.S. Gavai gave the green signal to the CBI to prosecute the stalwart of communist movement in June.

Earlier, the central agency had asked Vijayan to appear before the CBI court at Kochi on September 24.

The Rs.374-crore SNC Lavalin scam, has created a tussle between Vijayan and State Chief Minister V.S.Achhuthanandan. (ANI)

Pak Cabinet’s ECC clears plan for 1,500 MW rental power plants

Islamabad, Aug.22 (ANI): The Economic Coordination Committee (ECC) of the Pakistan Cabinet has given its approval to a plan for 1500 megawatt rental power plants, and has also asked the federal power ministry to arrange 2,200 megawatts of electricity from 14 companies in order to end the country’s power crisis.

Pakistan’s Water and Power Minister Raja Pervez Ashraf told journalists after the meeting that currently the country requires 2,700 megawatts of electricity through rental power plants.

He said that he had also directed the power ministry to seek 200 mmcfd of gas from the petroleum ministry to generate 700MW from the existing system.

He said that if the petroleum ministry failed to provide the required gas more electricity would be generated through the rental power plants.

In reply to a question about the financial impact of these rental plants, Ashraf said that when the plants came online the overall tariff would rise by six per cent.

He also said the government was working on hydel-power plants and projects like the Bhasha Dam and the Neelum-Jhelum power plants, and added that work on the Bunji dam project would start soon. (ANI)

Reserve Bank of India fears increase in prices

New Delhi, Aug 18 (ANI): The Reserve Bank of India (RBI) on Tuesday said that prices are likely to go up this year due to erratic monsoon.

“Erratic monsoon may put pressure on inflation,” said K C Chakrabarty, Deputy Governor, RBI on the sidelines of a meeting of the Regional Rural Bank chiefs.

On rescheduling of farm loans because of the uncertain monsoon this year, he said that is an issue for next year.

Earlier, an Empowered Group of Ministers (EgoM), headed by Finance Minister Pranab Mukherjee, was set up by the Centre to tackle drought situation in nearly one-fourth of the country.

EgoM includes Agriculture Minister Sharad Pawar, Home Minister P Chidambaram, Railway Minister Mamata Banerjee, Planning Commission Deputy Chairman Montek Singh Ahluwalia, and Power Minister Sushil Shinde.

Other members include Rural Development Minister C P Joshi, Petroleum Minister Murli Deora and Urban Development Minister Jaipal Reddy.

As many as 161 districts out of over 600 have been declared as drought-hit in the country.

The EGoM will take decisions and approve new and innovative schemes, besides examining the existing schemes for suitable modification.

The term of reference for the EGoM includes assessment and monitoring of the situation arising out of drought and deficient rainfall. (ANI)

Centre constitutes GoM to monitor drought situation

New Delhi, Aug 13 (ANI): In view of the severe drought and growing prices of essential commodities, Prime Minister Manmohan Singh has constituted a crisis management group of Ministers (GoM) for monitoring the situation on a day-to-day basis.

The decision was taken after a high level meeting chaired by Singh. Chairman of the 13th Finance Commission Vijay Kelkar, Planning Commission Secretary Sudha Pillai also attended the meeting.

Sources said, Union Finance Minister Pranab Mukherjee would head the crisis management group,

The GoM comprises Union Agriculture Minister Sharad Pawar, Railway Minister Mamata Banerjee, Petroleum Minister Murli Deora and Power Minister Sushil Kumar Shinde sources added.

The main task of the GoM will be to minimise the damaging impact of drought on food prices and to improve the condition of farmers affected by the adverse monsoon situation.

The GoM will also try to devise ways to contain the damages done by the failure of the Kharif season.

As many as 161 districts across the country have been declared drought-hit.

Earlier, expressing concerns over the situation, Mukherjee said the drought would affect the country’s economic growth, which is expected to be below 6% this year. (ANI)

NHPC IPO – NHPC IPO Pirce Band – NHPC IPO price band seen at Rs 30-36

NHPC IPO – NHPC IPO Pirce Band – NHPC IPO price band seen at Rs 30-36

NEW DELHI: Virtually flagging off the government’s disinvestment effort, the empowered group of ministers (eGoM) on Friday met to finalise the price band for NHPC’s initial public offering (IPO), which will happen simultaneously with the disinvestment process. The eGoM has suggested a price band of Rs 30 to Rs 36.

The lead managers for the offer — Enam Securities Private, Kotak Mahindra Capital Company and SBI capital markets — had suggested a price band of Rs 25 to Rs 30. The disinvestment by the government will piggyback on the IPO, as was the case with NTPC several years ago. The response to this entry into the capital markets will be closely watched as the government’s future disinvestment plans will be determined by it.

The public sector infrastructure company will issue 10% of its new equity shares in the public offer while the government will divest its 5% stake in the company. NHPC plans to raise Rs 1,670 crore fresh equity through the IPO and plans to bring 167 crore shares of face value of Rs 10 each, which would be offered at a premium to be decided through book-building process.

The group, comprising finance minister Pranab Mukherjee, power minister Sushilkumar Shinde and deputy chairman, Planning Commission, Montek Singh Ahluwalia, were constituted to fix the price band. Proceeds from the NHPC issue are expected to be moved to the National Investment Fund (NIF), since it is unlikely that the Cabinet would have taken a decision on the fate of NIF by the time proceeds from the offer come in.

NTPC to set up 4,000 MW power plant in Chhattisgarh

Raipur, July 11 (IANS) India’s largest power producer, the National Thermal Power Corporation (NTPC), will sign a deal with the Chhattisgarh government Sunday for setting up a 4,000 MW coal-fired power plant in the state, officials said here Saturday.
The memorandum of understanding (MoU) for the ultra mega power project (UMPP) will be signed Sunday afternoon in the presence of Union Power Minister Sushil Kumar Shinde and Chhattisgarh Chief Minister Raman Singh.

The plant will come up at Lara village in the state’s northern coal-abundant Raigarh district.

The central government, which had earlier selected Chhattisgarh as one of the five states for setting up UMPPs, reportedly rejected the project last August as the state government stuck to its demand for 50 percent of power from the project at production cost.

The project was put back on track late last month after Shinde and Raman Singh had a meeting in New Delhi. The state government has committed to make sufficient land and water available to help the NTPC set up the plant at the earliest.

The NTPC will also sign a deal with the state government Sunday for setting up an Indian Institute of Information Technology (IIIT) in Chhattisgarh.

CPI-M Politburo to discuss Vijayan-Acuthanandan spat

New Delhi, July 4 (ANI): The politburo of the Communist Party of India (Marxist) is meeting here later today to resolve the crisis of the party’s Kerala unit.

Sources said that the politburo is likely to focus on resolving the feud between Kerala Chief Minister V S Achuthanandan and state party secretary Pinarayi Vijayan.

Both have been involved in an open turf war following the state governor’s sanction to the Central Bureau of Investigation (CBI) to charge sheet and prosecute Vijayan for his alleged role in the multi-crore SNC Lavalin scam when he was Kerala’s Power Minister.

The split within the Kerala unit became evident when Achuthanandan questioned the party’s support to Vijayan after it was prima facie established that he was involved in the Rs 98 crore scam.

The politburo is expected to consider asking Vijayan to step down as the state party secretary.

It is the second such politburo meeting by the central leadership to restore peace in the Kerala unit. Achuthanandan and Vijayan had earlier been suspended from the politburo for coming out in the open over the matter, a decision that was later revoked. (ANI)

Vijayan summoned by special CBI court in corruption case

Kochi, June 23 (ANI): The CBI court on Tuesday issued summons to Kerala CPI (M) State Secretary and former minister Pinarayi Vijayan and eight others in the SNC Lavalin corruption case.

On June 11, the CBI had filed a chargesheet against Vijayan in connection to the SNC Lavalin case in which he is named as the seventh accused.

Vijayan is the first Politburo member to be prosecuted in a corruption case.

As Kerala Power Minister in 1997, Vijayan allegedly had inked a deal with Canadian firm SNC Lavalin to renovate three power projects in the state.

In 2001, the Assembly Subject Committee found that the deal with Lavalin had caused huge losses to the Government.

A CAG report said the state lost 374.5 crore rupees in the deal.

According to the CBI, Vijayan allegedly colluded with others in a criminal conspiracy to favour the firm SNC Lavalin.

The 10-page chargesheet and documents running into 3,000 pages were submitted to special judge P A Jyothindra Nath by CBI Deputy SP Ashok Kumar.

Vijayan has been charged under sections 420 and 120 (B) of the IPC and sections 13 (2) and 13 (1B) of the Prevention of Corruption Act. (ANI)

Is Kerala CM under pressure to quit for opposing clean chit to Vijayan?

Trivandrum, May 8 (ANI): Pressure seems to be building on Kerala Chief Minister VS Achatunandan to quit after he defied CPI (M) stand to give a clean chit to party’s state secretary Pinarayi Vijayan in the Lavalin scam.

Sources claim that in a meeting held in the CPI (M) state secretariat in Trivandrum, members asked for Achutanandan’s resignation as he has been defying party’s stand to give a clean chit to Pinarayi Vijayan.

Opposition Congress-led UDF today asked Governor R S Gavai to reject the cabinet decision to deny permission to CBI to prosecute CPI(M) leader Pinarayi Vijayan, increasing pressure on the ruling LDF Government in Kerala,.

Kerala’s opposition leader Oommen Chandy led a UDF delegation and submitted a memorandum to Governor Gavai, asking him to take an independent decision on the matter and reject the cabinet decision, which held that there was no ground to prosecute Vijayan in the case, a news channel reported.

“As the Opposition, it is our duty to seek the Governor’s intervention in the matter. We expect he will act to uphold the law and the Constitution by examining all aspects of the issue,” Chandy told reporters after meeting the Governor.

The cabinet had on Wednesday endorsed the legal opinion given by the Advocate General, stating there was no ground to grant permission to CBI to prosecute Vijayan in the case.

Canadian company SNC-Lavalin was given the contract to renovate three hydro power stations in 1997 when Vijayan was Power Minister. (ANI)

Apex court to hear graft case against Vijayan in May

New Delhi, April 20 (IANS) The Supreme Court Monday decided it will hear in May a lawsuit that alleges delay in sanction by the Kerala government to prosecute former state power minister and Communist Party of India-Marxist state secretary Pinarayi Vijayan in a corruption case.

The aex court had initially declined to hear the public interest lawsuit and dismissed it. But on MOnday, a bench of Chief Justice K.G. Balakrishnan and Justice P. Sathasivam decided to hear it in May after counsel for K.B. Suresh, who brought the PIL, insisted it has merit.

Kerala-based scribe T.P. Nandkumar has approached the apex court against a Kerala High Court order of Feb 12, 2009, that dismissed his contention that the Central Bureau of Investigation (CBI) was delaying the trial of Pinarayi Vijayan and two state bureaucrats on the pretext that the government has not given permission to prosecute them.

The other two accused in the case, besides Vijayan, are former power secretary K. Mohana Chandran and former joint secretary (power) A Francis.

Nandkmar had contended before the high court that the CBI, which probed the graft case, did not need any government approval to prosecute them as they were not entitled to legal protection from trial for corrupt acts.

Vjayan faced a CBI probe for his alleged role in awarding a contract in 1997 for renovation and modernisation of two hydro-power plants in the state to Canadian firm SNC Lavalin without any competitive bidding.

The government’s official auditor later found that the award of the contract by the Kerala State Electricity Board to the Canadian firm at the behest of the minister had resulted in a loss of Rs.3.5 billion to the state exchequer.

The contract had allegedly been given to the Canadian firm ignoring a Bharat Heavy Electrical Limited report, which had said that the renovation of three power plants could have been achieved at a cost of less than Rs.1 billion.

Nandkumar had approached the high court alleging that the state government was not keen to prosecute Vijayan and two bureaucrats though a corruption case against them was lodged in February 2005.

He also contended that that there has been no progress in the investigation.

But the high court disposed of scribe’s plea after the state government said that the CBI has approached it for approval for trial of the former minister and the bureaucrats, and that it was examining the plea.
Indo Asian News Service

Pakistan to move international court against Kashmir hydro project

Islamabad, April 17 (IANS) Pakistan is to move the International Court of Arbitration against India’s diversion of the Jhelum river to the Wullar Barrage and what it terms the faulty design of the Kishanganga hydropower project in Jammu and Kashmir.

‘I served notice on the Indian commissioner in March after exhausting all endeavours mentioned in the 1960 Indus Waters Treaty to resolve the issue,’ The News Friday quoted an official as saying.

Jamaat Ali Shah, the Pakistan Indus Waters Commissioner, was speaking at a closed door meeting earlier this week chaired by Water and Power Minister Pervez Ashraf.

Shah told the meeting that talks between Pakistan and India have failed after exhausting all endeavours at the Permanent Commission of Indus Waters (PCIW) level.

Former water and power secretary Ashfaq Mehmud, and top officials of the water and power ministry, the foreign office, the law division, the General Headquarters (GHQ) and the Inter-Services Intelligence (ISI) attended the meeting.

Pakistan has opposed the construction of the hydropower project, saying the diversion of river water to the Wullar Barrage contravenes the provisions of the Indus Waters Treaty. India says it does not.

PM, Sonia, Rahul to campaign in Assam, UP and MP today

Guwahati, Lucknow, Bhopal, Apr 19 (ANI): Prime Minister Manmohan Singh, Congress President Sonia Gandhi and party general secretary Rahul Gandhi will campaign in Assam, Uttar Pradesh and Madhya Pradesh respectively today.

During her visit, Sonia Gandhi will address election meetings at Allahabad, Faizabad and Lucknow.
Rahul is scheduled to address a public meeting in Madhya Pradesh’s Panna district, which will go to poll on April 23. .

Panna district comes under Khajuraho Lok Sabha seat.

He will also address rallies in Sangli and Pandharpur (Solapur Lok Sabha seat).
Prateek Patil, grandson of former Chief Minister late Vasantdada Patil is seeking re-election from Sangli while Union Power Minister Sushilkumar Shinde is the candidate from Solapur constituency.

Besides, Rahul will address election meetings in Naxal-hit Balaghat and Pipariya area in Hoshangabad parliamentary constituency on April 21.
Of the total 29 Lok Sabha seats in the state, polling will be held in 13 seats including Khajuraho, Balaghat and Hoshangabad on April 23. (ANI)

Advani promises religious tours if voted to power

Sonepur (Orissa)/ Gaya/Sholapur (Maharashtra), Apr 1 (ANI): Bharatiya Janata Party (BJP) prime ministerial candidate Lal Krishna Advani has promised religious tours for people, if voted to power.

“If BJP gets an opportunity to form the Central Government, our department of tourism will have a special section that will specialise in religious tourism,” Advani said at an election meeting at Sonepur in Orissa.

BJP has in the past opposed grant of subsidy by the Central Government to Muslim Haj pilgrims and if not, then the government should extend similar subsidies to Hindu pilgrims to Mansarovar in Tibet and other domestic pilgrimages.

Meanwhile, Rashtriya Janata Dal (RJD) chief Lalu Prasad, took pot shots at Advani, saying he is not destined to become a Prime Minister.

“The NDA is in a bad shape throughout the country. With things that Advani has done like demolishing the Babri mosque and causing the Godhra riots, Prime Ministership is not in his destiny,” Lalu Prasad said at an election rally in Gaya.

In Maharashtra, NCP chief Sharad Pawar and Union Power Minister Sushil Kumar Shinde filed nominations yesterday for the upcoming general polls.

While Pawar filed his nomination for the reconstituted Madha constituency, Shinde entered the fray from Sholapur. (ANI)

Sonia gives short shrift to Lalu following RJD-LJP seat-sharing move

New Delhi, Mar. 18 (ANI): Having cocked a snook at the Congress party by only agreeing to give it three seats to contest from in Bihar, Railway Minister and Rashtriya Janata Dal president Lalu Prasad Yadav’s attempts to smoke the peace pipe with Congress president Sonia Gandhi came to naught late on Tuesday evening.

Highly placed sources confirmed that Lalu sought to have a meeting with Sonia at her 10, Janpath residence, but was given short shrift, as he had not extended Sonia the courtesy of discussing his political plans in Bihar with Lok Janshakti Party chief and Steel Minister Ram Vilas Paswan.

The sources further revealed that Sonia reluctance to meet with Lalu was conveyed through Power Minister Sushil Kumar Shinde in as polite a manner as possible.

It may be recalled that on Tuesday, Paswan and Lalu Yadav strongly pitched for a secular form of government in Bihar while announcing a seat sharing arrangement between their two parties in the state.

It was announced that out of the 40 seats, the RJD would contest 25 seats, while the LJP would contest 12 seats. The remaining three seats were left for the Congress.

Talking to reporters here yesterday, Lalu said: “We”re fighting to form a secular government… We”re with the UPA and will remain with the UPA.”

Paswan too said their aim was to defeat communal forces.

“LJP and RJD, we will together fight this battle and we will win. There is no doubt about this,” said Lalu.

Expressing confidence about winning the general elections, Paswan said, “UPA will get more seats this year in Bihar as compared to previous year. The United Progressive Alliance will definitely form a government in the country.”

In a view of strengthening ties between the two UPA allies, Lalu Prasad said the RJD AND LJP would fight together in Jharkhand too. He further clarified that he was not concerned with the recently launched Third Front.

The Congress termed the Lalu-Paswan deal unacceptable.

“They have left just three seats. Our workers are in so much anger. We were ready with a list of eleven candidates, ” AICC secretary Iqbal Singh, in-charge of Bihar told reporters here.

In the previous general election, the UPA had bagged 29 seats in the state, while the JD (U)-BJP combine had 11. The RJD”s tally was 22, while the LJP could only win four.

The 2009 general elections in Bihar would happen in four phases. The first phase is scheduled on April 16, second on April 22 and 23, third on April 30 and fourth on May 7. (ANI)