Govt to give Rs 22,000 crore grant to oil PSUs to cover LPG losses
New Delhi (PTI): The government will extend a one-time grant of Rs 22,000 crore to three state-owned fuel retailers to cover for the losses they incurred on selling domestic cooking gas LPG below cost in the last two years, I&B Minister Anurag Thakur said on Wednesday.
The Union Cabinet headed by Prime Minister Narendra Modi at a meeting on Wednesday, approved the one-time grant to three oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), Thakur told a news briefing.
The grant will be for covering the losses they incurred on selling LPG below cost to consumers from June 2020 to June 2022.
The three firms sell domestic LPG at government-regulated prices to consumers.
Between June 2020 to June 2022, the international prices of LPG soared by around 300 per cent.
However, to insulate consumers from fluctuations in international LPG prices, the cost increase was not fully passed on to consumers of domestic LPG, an official statement said.
Accordingly, domestic LPG prices have risen by only 72 per cent during this period, it said adding this led to significant losses for the three firms.
"Despite these losses, the three PSU OMCs have ensured continuous supplies of this essential cooking fuel in the country. The government has therefore decided to give a one-time grant to the three PSU OMCs for these losses in domestic LPG," it said.
The Union Cabinet approved a one-time grant amounting to Rs 22,000 crore to the three oil marketing companies (OMCs).
"This decision will help the PSU OMCs to continue their commitment to the Atmanirbhar Bharat Abhiyaan, ensuring unhindered domestic LPG supplies and also supporting the procurement of Make in India products."
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234 held in anti-drug operation in Kerala
Thiruvananthapuram, Mar 15 (PTI): The Kerala police on Saturday said as part of its special drive to crack down on individuals suspected of drug trafficking, 234 people were arrested, and varying quantities of several deadly narcotics, including MDMA, were seized.
The State Police Media Centre (SPMC) stated that on March 14, as part of the drive, D-Hunt, authorities inspected 2,362 individuals suspected of drug trafficking and arrested 234 of them.
The operation was carried out across the state to identify and take strict legal action against those involved in the storage and distribution of banned drugs.
Police registered 222 cases related to the possession of various prohibited substances, according to a statement issued by the SPMC.
Additionally, authorities seized 0.0119 kg of MDMA, 6.171 kg of cannabis, and 167 cannabis 'beedis' from those arrested.
Operation D-Hunt is being jointly implemented by the Range-based NDPS Coordination Cell and District Police Chiefs under the leadership of State Anti-Narcotics Task Force Head and ADGP (Law and Order) Manoj Abraham, following the instructions of State Police Chief Dr Sheikh Darvesh Sahib, the statement said.
The SPMC also announced that a 24-hour Anti-Narcotics Control Room (9497927797) has been set up to receive information from the public regarding drug-related activities.
The details of individuals who contact this number will be kept confidential, it added.
Furthermore, the operation will continue in the coming days through sustained surveillance and the creation of a database of individuals regularly involved in drug-related activities and transactions.
