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Govt defers decision on natural gas prices by 3 months

26062014

In a setback to gas producers like Reliance Industries, the government on Wednesday postponed revision in natural gas prices by three months pending a “comprehensive” review to make a controversial pricing formula more palatable.

The current USD 4.2 per million British thermal unit rate for gas, which would have jumped to USD 8.8 if a formula approved by the previous UPA government was implemented on July 1, will continue till September-end, Oil Minister Dharmendra Pradhan said.The first revision in rates in four years was originally to take effect from April 1 but with general elections being declared it was postponed by three months.

“The Cabinet Committee on Economic Affairs today decided that comprehensive discussions were necessary on the issue. It was decided that consultations would be held with all stakeholders and it was important to keep public interest in mind,” he told reporters after the CCEA meeting.

Pradhan, who had held three rounds of discussions with Prime Minister Narendra Modi on the issue since Friday, did not say if a new expert committee or a ministerial group will be constituted for the review.

In course of these discussions, it was clear that the new government was looking at making some changes in the formula, proposed by a panel headed by C Rangarajan, as it would have led to Rs 2 per unit increase in power tariff and Rs 12 a kg hike in CNG rates besides jump in fertiliser subsidy outgo.

Finance Minister Arun Jaitley said a review mechanism will have to be decided by the Prime Minister’s Office and the Oil Ministry.

“There have been one or two meetings. The mechanism in the government which will review the whole thing and come to an opinion, I think now needs to be finalised,” he said.

Neither Pradhan nor Law Minister Ravi Shankar Prasad who briefed media persons on the cabinet decision, would say if a new formula altogether was being considered or whether the Rangarajan formula will be amended to bring down the rates to acceptable levels.

“The matter needs extensive consultations keeping the public good in mind with all the stakeholders… the new government must be given time to take a call on what should be the mechanism (of review),” Prasad said.

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Categories : Business, Energy, Media, Politics, Uncategorized

Dipika-Joshana win women’s doubles title in Malaysia

26062014

India bagged its second title at the Tri-Nation squash doubles tournament in Kuala Lumpur on Thursday when Dipika Pallikal and Joshana Chinappa emerged winners in the women’s doubles final.

Pallikal and Joshana rallied to beat New Zealand’s Joelle King and Amanda Landers Murphy 8-11, 11-5, 11-1 at the National Squash Centre.

Hosts Malaysia was the the other country to participate in the three-day event, seen as a warm-up to the next month’s Commonwealth Games.

It was Pallikal’s second title in as many days after she won the mixed doubles with Saurav Ghosal.

The Indians put up a commendable show considering they are busy playing singles for major part of the season.

Pallikal said it was good practice for the Glasgow Games beginning July 23.

“I am glad to have won the doubles too. We started off slow today but got better as the match progressed. Joshana played some amazing shots to shock our opponents,” Pallikal said.

She alongside Joshana stunned the mighty Malaysian pair of Nicol David and Low Wee Wern in the semifinals yesterday.

“The win here does a lot of good to our confidence going into the Commonwealth Games.

Winning there is our main aim and this tournament helped us understand where we stand in the pecking order. In top Commonwealth nations, only England and Australia were not here. It was a good test overall,” said the singles World No.10.

How tough is it switch to doubles while playing singles on the professional tour? “It is tough but you have to switch off switch on when necessary,” Pallikal added.

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Firing on PIA plane: over 200 suspects held

26062014

By sagarmedia on June 26, 2014 | Edit

More than two hundred suspects were rounded up in a search operation conducted in Budh Ber amid investigations into the incident of firing on a plane of the national flag carrier in Peshawar Tuesday night.

Now not even the passenger planes are safe anymore in Peshawar.

A flight of Pakistan International Airline (PIA) came under fire attack by the terrorists in Mashokehl in the outskirts of Peshawar. More than twelve bullets hit the plane.

Following the incident, Police and security forces launched a joint search operation in Mashokhel and Salman Khel areas and took into custody over 200 suspects.

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Categories : Media, Politics, Uncategorized