The state-owned power giant NTPC will regulate power supply to Jammu and Kashmir from February 18 midnight for not clearing outstanding dues of more than Rs 1,600 crore. On February 5, the company had also issued similar notices to discoms in Telangana, Karnataka and Andhra Pradesh to regulate power, as the states had as much […]
Day: February 12, 2019
Jammu and Kashmir govt constitutes committee to examine state toll tax
The Jammu and Kashmir government on Monday formed a committee head by director Industries Jammu to examine the state toll tax. In an order, the general administration department (GAD) said the sanction was accorded to the constitution of a committee to examine the level of Toll Tax being levied on various products entering the State, […]
Bengaluru: Pilot shortage, Indigo cancels 32 flights
Bengaluru: Indigo Air has been cancelling flights over the last few days due to shortage of pilots. But the biggest blow yet came on Monday when the low-cost airline cancelled 32 flights, affecting the travel schedules of hundreds of passengers across the country.
Committee to examine levy of toll at Lakhanpur
As the government on Monday ordered constitution of a committee to examine imposition of toll tax levied at Lakhanpur post, the industrialist bodies in both Kashmir and Jammu divisions have opposed revocation of the entry tax arguing “it would prove fatal for local industry.” While as the Kashmir Chamber of Commerce and Industries has “questioned […]
IMF note of caution against white-elephant projects
Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on “white elephant projects”. “With revenues down, fiscal deficits are only slowly declining, despite significant reforms on both the spending and revenue sides, including the introduction of […]
Bengal city gas race hots up
The consortium of H-Energy East Coast Private Limited and HPCL has emerged as the top bidder for the city gas and CNG licensing bids in Bengal. In the 10th bid round, the consortium bid for all the four geographical areas in the state put up for auction — Darjeeling, Jalpaiguri and Uttar Dinajpur districts; Howrah […]
Govt offers 23 oil and gas blocks in 3rd round
The government on Sunday offered 23 oil and gas blocks for bidding under the Open Acreage Licensing Policy (OALP), hoping to attract investments of up to $700 million. “In OALP-III, 23 blocks in 12 sedimentary basins are being offered. Of these, five are coal-bed methane (CBM) blocks. The total area on offer is about 31,000 […]
Rafale deal unravelling faster than government thought, says Congress
The Congress on Monday said the Rafale deal is “unravelling” faster than the government thought, with issues such as “parallel negotiations” by the PMO and changes in the standard defence procurement procedure coming to the fore. The Opposition party’s attack on the government came after a report in The Hindu newspaper claimed that the deal […]
NCLAT allows 22 IL&FS arms to start debt servicing
The National Company Law Appellate Tribunal (NCLAT) has allowed 22 domestic arms of the IL&FS group to service their debt obligations, providing a much needed relief to the lenders. Additionally, the appellate tribunal lifted the moratorium on debt payments on 133 IL&FS firms incorporated outside the country even as they were allowed to continue with […]
UAE expects oil market to balance in first quarter
The energy minister of the United Arab Emirates said on Monday supply and demand in the oil market should balance out in the first quarter of 2019, following weeks of output cuts. “My expectation is that we will see the balance during the first quarter unless something happens,” Suheil al-Mazrouei told the three-day World Government […]
Qatar seeks inclusion of natural gas in GST
India’s largest LNG supplier Qatar on Sunday urged the central government to include natural gas in GST to help create demand for the environment friendly fuel and raise its share in the country’s energy basket. Speaking at Petrotech conference here, Qatar Gas CEO Khalid Bin Khalifa Al-Thani said India is very important market for Qatar. […]
Punjab inks MoU with Virgo corp for bio-fuel project to check stubble burning, boost renewable energy
Aimed at checking stubble burning and boost renewable energy sector, Punjab Government on Monday signed a Memorandum of Understanding with Virgo Corporation for a Rs 630 crore Biofuel project, for which technology will be provided by the US giant Honeywell. As per the agreement, Virgo will use the technology to extract bio jet fuel from […]