News Digest: GAIL gas supplies

GAIL (India) on Wednesday finalised gas supply terms with Panna-Mukta Tapti JV (PMT JV) for gas supplies from April 1. Accordingly, GAIL will receive about 5 million cubic metres per day (mmscmd) of gas from the PMT JV at a price of $4.75/mmbtu, for a period of two years.

Tripura block
GAIL (India) resumed seismic survey in its Tripura block "" AA-ONN-2002/1 "" from Monday following a disruption in activity due to an alleged insurgent attack in February. The block was awarded to the consortium of GAIL and Jubilant Oil and Gas Pvt Ltd with the latter being the operator of the block.

Senior citizens
Senior Citizens can now transfer their deposit accounts from one post office or bank to another even when they are not shifting residence. They would have to pay a small transfer fee of Rs 5 per lakh on deposits of Rs 1 lakh and above for the first transfer and Rs 10 per lakh for subsequent transfers.

Nanotechnology
Nobel Laureate Sir Harry Kroto on Wednesday called upon students to look for global citizenship rather than single faith citizenship and make each country peaceful by getting rid of nuclear weapons. Delivering a lecture at the Amity Institute of Nanotechnology in Noida on Wednesday, Sir Harry said nanoscience and nanotechnology was the science of the 21st century and time has come for nanotechnology techniques to be applied in industry.

MCD demolition
Acting on a Supreme Court Order, the Municipal Corporation of Delhi (MCD) has started sealing of commercial establishments in residential areas. Owners of these establishments had failed to provide a requisite undertaking amidst stiff opposition from the trading community. With the deadline set by the apex court for filing of affidavits by those running illegal shops and other commercial establishments in residential areas expiring on Tuesday, the civic body, under tight police security, started sealing such premises in all the 12 zones barring Narela.

Delhi HC ban
The Delhi High Court has banned constructions within 300 metre along the Yamuna and directed district courts against granting any stay on demolition of any illegal structure on its banks. A division bench headed by Justice Vijender Jain said no subordinate court should grant any stay on demolition of unauthorised buildings carried out by the MCD and the Delhi Development Authority (DDA). The court also asked the MCD to give details of how the Rs 25 crore sanctioned by the central government for beautification of Yamuna's banks was to be spent.

Haldia Petro row
As the battle for control of Haldia Petrochemicals Ltd's management continues before the Company Law Board, Indian Oil Corporation has contended that The Chatterjee Group was aware of the share transfer to it by the West Bengal government. "The petitioner (TCG) had voted in favour of the resolution, passed by the HPL board, regarding approval for transfer of shares to IOC," IOC's counsel said before a Bench chaired by CLB Chairman S Balasubramanian.

Indo-Pak trade
India has registered a surplus of about $260 million in its trade with Pakistan while New Delhi's exports to Islamabad stood at $547.458 million in the current fiscal so far. Latest figures released by Pakistan showed that bilateral trade grew by 75.5 per cent while India's trade surplus with its neighbour grew up to $259.324 million during 2004-05 from $73.736 million in 1999-2000.

India-Mexico MoU
India and Mexico have signed a memorandum of understanding for cooperation in micro, small and medium enterprises of both countries. The MoU was signed by Small-Scale and Agro and Rural Industries Minister Mahabir Prasad and Mexico's Minister of Economy Serio A Garcia de Alba Zepeda on Tuesday.

$300-mn ADB loan
The Asian Development Bank is likely to approve a $300-million loan to the Uttaranchal power sector project, which would augment the state's power generation capacity and create exportable surplus by 2010. "The Uttaranchal power sector project will be going to the (ADB) board on Thursday. ADB's lending to the project is likely to be $300 million," John Samy, ADB deputy director-general in charge of south Asia said.

CAG pulls up DAE
The Comptroller and Auditor General of India has pulled up the department of atomic energy for a nine-year delay in installing a sophisticated nuclear waste disposal system at the Bhabha Atomic Research Centre, which resulted in cost overruns.