Delayed start of winter session of Karnataka Legislative Assembly draws flak
Belagavi, Dec 4: The opposition BJP and ruling Congress legislators expressed their strong objection over the delay in the convening of Karnataka Legislative Assembly on Monday, as it met for the winter session at 'Suvarna Vidhana Soudha' here, one hour late than the scheduled time.
Soon after 'Vande Mataram' was sung and preamble of the Constitution read after the House met for the day at around noon, instead of the scheduled time of 11 am, senior MLAs -- Suresh Kumar of BJP and Basavaraj Rayareddy of Congress -- expressed their strong objections to Speaker U T Khader over the delay.
They said the unnecessary delay without any intimation to members waiting, was sending a wrong message to the people of the state and was in violation of rules and procedures.
"The House was called to meet at 11 am, it has been an hour, it's noon now. What message are we sending out to the people? On the first day itself without any reason, one hour delay. I would like to say that you have not sent a right message through this House," Suresh Kumar said.
Rayareddy too expressed his strong reservations about the delay.
"There are rules of procedure and conduct of business in the Karnataka Legislative Assembly regarding what time the session has to be convened and how, you should have read it. There are also references in (M N) Kaul and (S L) Shakdher (Compilation on Practice and rocedure of Parliament) as to how the sessions should start and when. There is a feeling outside the House that when the session happens in Belagavi, it doesn't happen properly and such things come in newspapers," he said.
Stating that such a thing brings a bad name to north Karnataka region, Rayareddy referring as to how Lok Sabha is convened on time, urged the Speaker to begin the house proceedings at the time announced. "Whether someone comes or not, start the proceedings on time, if someone doesn't come on time it is a shame on them...you may have delayed due to various reasons, inform the House about it and ensure there is no delay and the house meets on time."
BJP legislator Basangouda Patil Yatnal, on his part urged that the discussion on north Karnataka related issues should begin from today itself; if not he will stage a protest.
"Every year the discussion on north Karnataka is scheduled during the last two days of the Belagavi session when most legislators and Ministers are not there. Please take up issues of north Karnataka and political injustice happening to the region, from today itself," he said.
Speaker Khader in his response said, the House should begin its proceedings on time and there are rules regarding it, but due to certain reasons and circumstances there will be some delay some times, and all legislators should also cooperate with attendance for the House to be convened on time.
He said, the session has been called to discuss issues relating to the entire state and north Karnataka, and let's all work accordingly.
Later, the House paid obituary reference to six former members of the House including former Minister and Speaker D B Chandre Gowda, who passed away recently.
It also paid rich tributes to five soldiers of the Indian army -- including Captain M V Pranjal from Karnataka -- who were killed during an encounter with terrorists in Rajouri sector of Jammu and Kashmir last month.
Leader of the Opposition R Ashoka, noting that the state government has already announced compensation to Pranjal's family, requested the Chief Minister Siddaramaiah to help the family in whatever way it can, while BJP MLA Umanatha Kotian urged the government to take measures and do whatever possible to immortalise the name of the late soldier and his legacy.
Rayareddy, on his part suggested that the legislature bring out a book on Chandre Gowda and his contributions.
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Rs 30,000 cr loss a month: Oil companies bleed as fuel prices on hold amid global energy spike
New Delhi (PTI): About Rs 700-1,000 crore loss per day. Rs 30,000 crore every month. India's state oil companies are quietly absorbing a massive financial hit to keep petrol, diesel and LPG prices unchanged even as global energy markets face a turmoil that is bigger than all previous crises combined.
While countries from Japan to United Kingdom have raised petrol and diesel prices by up to 30 per cent since the start of the West Asia conflict, fuel prices in India continue at two-year-old levels.
The war disrupted India's import of 40 per cent of crude oil (raw material for making petrol and diesel), 90 per cent cooking gas LPG and 65 per cent natural gas (used to generate electricity, make fertilizer, turned into CNG and piped to household kitchens for cooking), but state-owned oil companies have maintained uninterrupted fuel supplies with no rationing or shortage at any point in the last 10 weeks.
But this has come at a cost - Rs 30,000 crore under-recovery or loss every month for the three oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), two sources with direct knowledge of the matter said.
The under-recoveries - the gap between input costs and realised retail prices - rose sharply in March/April before tapering a bit. Daily under-recoveries during April were estimated at about Rs 18 per litre on petrol and Rs 25 per litre on diesel, translating into average losses of Rs 700-1,000 crore a day for OMCs, they said.
At a news briefing on developments in West Asia, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said prices in the international markets, on which India relies to meet 88 per cent of its oil needs, have been volatile and supplies impacted.
Crude oil prices which were around USD 70 per barrel two months ago, are now at USD 120, she said. "It has been government's endeavour to keep prices stable so far and that there is no price increase for consumers," she said. "This has hit finances of OMCs... monthly under-recoveries are of the order of Rs 30,000 crore."
She, however, refused to say if retail petrol and diesel prices will continue to hold.
"As I said, the endeavour so far has been to see that there is no price increase," she said.
The three oil marketing companies (OMCs) have worked overtime to keep the supply lines running even when demand spiked due to panic buying.
The government intervention included excise duty reductions and absorption of part of the fuel cost burden. The special additional excise duty on petrol was cut to Rs 3 per litre from Rs 13, while excise duty on diesel was reduced to zero from Rs 10 per litre.
The under-recoveries would have swelled to nearly Rs 62,500 crore had the government not cut excise duty on petrol and diesel by Rs 10 per litre each.
The government, Sharma said, has taken a hit of Rs 14,000 crore a month in cutting the excise duty.
The Centre's effective absorption at peak crude prices was estimated at around Rs 24 per litre for petrol and Rs 30 per litre for diesel.
The February 28 strikes by the United States and Israel on Iran triggered a sharp escalation in West Asia tensions. Energy prices surged as the conflict widened and shipping risks intensified in the Strait of Hormuz - the shipping lane through which India and other countries imported crude oil, LPG and natural gas from Gulf countries. Tanker movement was disrupted.
The companies also faced additional costs from emergency crude sourcing, higher freight charges due to vessel diversions, elevated marine insurance premiums and refinery optimisation expenses. Despite these pressures, fuel and LPG supplies remained uninterrupted across the country.
The surge in crude prices and the decision to shield consumers from higher retail prices placed significant strain on OMC balance sheets and refining margins, sources said.
They added that the measures reflected a policy decision to prioritise consumer stability and economic continuity during a global energy shock.
Sources warned that a prolonged period of elevated crude prices could lead to higher working capital borrowings and force some recalibration of capital expenditure plans. However, investments linked to refining expansion, energy security infrastructure, ethanol blending, biofuels and transition fuels would continue with government backing, they said.
India's approach contrasted with measures adopted by several other economies, where fuel prices rose sharply after the conflict-driven energy shock.
Petrol prices increased by about 34 per cent in Spain, 30 per cent in Japan, Italy and Israel, 27 per cent in Germany and 22 per cent in the United Kingdom, according to estimates. Several countries also introduced rationing, conservation advisories, emergency relief packages or fuel caps.
In India, petrol prices remained Rs 94.77 per litre and diesel at Rs 87.67, with no rationing, mobility restrictions or supply disruptions, they added.
Sharma said the revenues that OMCs earn are used to buy crude oil, build infrastructure to process it into fuel and create channels that will take the fuel to consumers.
Their capex spending is all dependent on the revenues they earn, she added.
