India, Gulf Cooperation Council sign MoU to facilitate consultations
Riyadh (PTI): External Affairs Minister S Jaishankar has held a "productive" meeting with the Gulf Cooperation Council (GCC) Secretary-General Nayef Falah Mubarak Al-Hajraf during which the two leaders signed an MoU on the mechanism of consultations between India and the six-nation regional bloc.
Jaishankar arrived here on Saturday on a three-day visit to Saudi Arabia to discuss ways to further strengthen relations between the two countries. It is his first visit to Saudi Arabia as External Affairs Minister.
On the first day of his visit on Saturday, Jaishankar met GCC Secretary-General and exchanged views on current regional and global issues.
"Productive meeting with @GCC Secretary-General Dr Nayef Falah Mubarak Al-Hajraf. Signed the MoU on the mechanism of consultations between India and GCC. Exchanged views on the current regional and global situation and the relevance of India-GCC cooperation in that context," Jaishankar tweeted after the meeting.
The GCC is a regional, intergovernmental, political, and economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
India enjoys traditionally cordial relations and cooperation with the GCC.
India's old, historical ties with the GCC states, coupled with increasing imports of oil and gas, growing trade and investment, and the presence of approximately 6.5 million Indian workers in the region, are of vital interest to India, according to the Indian Embassy in Riyadh.
India's economic linkage with the GCC has increased steadily, especially due to the growth in oil imports.
During 2020-21, India's exports to GCC were USD 28.06 billion. The bilateral two-way trade during the period was USD 87.36 billion.
Earlier this year, there was an unease in India's ties with some Muslim-majority countries, including Gulf nations, over the controversial remarks of two former BJP leaders on the Prophet Mohammad.
All six GCC nations had condemned the remarks.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
