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Depletion of environment resources

Prof. (Dr) R D Gupta

Although environment covers every conceivable thing on the planet earth yet environment can be defined “as that bundle of natural resources, which support, develop and enrich the human life.”

Such resources are classified as basic, developmental and cultural, which are related respectively, to the survival, well being and quality of life.

Any depletion in these environmental resources, for example depletion in (a) the life gets threatened, depletion in (b) would retard an economic development and depletion in (c) deprives us of our aesthetics and spiritual joys. For instance, forests would come under ‘basic’ resources if they contribute oxygen and absorb carbon dioxide and provide rains, under “developmental” if they yield valuable products economically and “cultural” if they are considered as a source of recreation.

Now a days, however, all the basic natural resources are highly polluted which stand detailed here under :

Air Resources : Our air is full of obnoxious sulpher dioxide and oxides of nitrogen which cause a cid rains. Carbon monoxide (Co) in higher concentration causes a number of diseases in human beings. The CO, when inhaled in large quantity can kill human beings. Infact, CO when enters the blood stream, replaces the oxygen of oxyhaemoglobin, causes thereby, serious disorder in body’s metabolism. The content of carbondioxide (CO2) has increased from 0.027 to 0.035% which is playing a pivotal role in warming up of the atmosphere. Increased amount of CO2has resulted in starting of a number of diseases. in a large number of population.

The main factor lying behind increased amount of CO2 in the atmosphere is telling of trees i.e deforestation. During the last 8000 years about 45% of the earths forest cover has disappeared. According to FAO, about 13 million hectares of world’s forest are lost each year due to deforestation. During 2000, forest area of India was 19.3% of its total land area.

Not so long, Jammu and Kashmir possessed the credit of being one of the thickly forested state not only of India but among the areas of the world. Its forests were an abode of some rare species of plants, animals and birds. Chinhangul, Himalayan golden eagle, the beared vulture and commonteal, are the versatile examples with respect to animals and birds. Bhanjand Kharsu oaks, neoza, chinar, tejpatar, kuth etc, are some of the examples of rare plant species. But unfotunately, the picture is now slowly changing due to deforestation and overexploitation of flora and fauna. Causes of deforestation and overexploitation are looming population of humans and cattle as well as increased industrialization, urbanization and various developmental works. As a result, the forest area of Jammu and Kashmir has left only 19.3% of its total geographical area, which according to satellite is only 11%.

Water Resources : Water resources are also much polluted. Rivers including those of Jammu and Kashmir like the Jhelum, Chenab, Ravi and the Tawi have become drains more than rivers less. The river Ganga has a lot of religious significance, but the way it is facing the increasing threat of pollution day by day, it will spell doom if immediate control measures are not taken to check the same. The river Yamuna is also largely polluted in which about 150 tonnes of suspended solids, 300 tonnes of dissolved solids and 150 tonnes of organic wastes are entered daily in Delhi alone.

Streams and lakes are also highly polluted. A great mass of pollutants sewage and waste water of Udhampur town is polluting the water of the Devak stream. The water of Mandi and Loren nallahs in Poonch district, is being polluted due to sewerage of the inhabitants residing near to their banks. Once claimed as the purest water of the Wular lake, is now deteriorating owing to nutrient flow and pollutants from its catchments.

Similarly water of Dal lake in Kashmir and that of Mansar and Surinsar in Jammu is much polluted. Water of rivers of Jammu and Kashmir carries elements like arsenic, mercury, cadmium and sulphur. Excess of fluoride, causes flurosis. The deficiency of iodine produces goiter. Contaminated water has yielded Wilson’s diesease in villages of north Kashmir, which has been attributed to more content of copper and lead.

Most of the rural folk especially of Kandi belt of Jammu and Karewas of Kashmir, are deprived of safe drinking water. The ponds/lakes of Kandi belt of Jammu, are the only source of water which is used for drinking, washing of clothes and cleaning the cattle. The water table is very low and is not economical to dig the wells. Lack of water results in a number of problems like irrigating the fields and shortage of food, fruit, fodder, fuel, fertilizers etc.

Soil Resources : Soil resources are highly degraded due to indiscriminate use of fertilizers and pesticides. Soils contaminated with pesticides have resulted in contamination of various food stuffs. About 70-80% of the food stuffs like cereals, fruits, vegetables, milk and its products, and feed/fodder, have been found to be contaminated with pesticide residues. High levels of pesticide residues in human blood samples of Punjab has been found. The levels of lindane were high about 605 times higher than in US population.

Unbalanced use of fertilizers has created deficiency of micronutrients like zinc, copper, boron. High concentration of nitrate in the drinking water is the result of unbalanced use of nitrogenous fertilizers.

Deforestation has accelerated soil erosion. About 6,000 million tonnes of top soil gets lost annually from arable Indian land. This figure almost becomes double when total culturable and unculturable land is taken into consideration.

The wildlife of Jammu and Kashmir represented by 70 specied each of mammals and snakes and 300 species of birds, is now mostly vanishing due to deforestation, overgrazing of pastures as well as hunting and poaching etc.

Control Measures

i) Illegal felling or cutting of trees and indiscriminate grazing of the grasslands should be stopped

ii) Intensive plantation should be resorted as it helps in reducing dust, smoke and other pollutants. People should be made aware of about the role of trees and forests in air, water and noise pollution. Indoor air pollution can be controlled by proper ventilation.

iii) The catchment areas of rivers lakes and other water bodies must be fenced to restrain cutting of trees and overgrazing of the ground cover.

iv) Industries must be away from cities and safe disposal olf toxic substances must be ensured.

v) All soil conservation measures agronomic mechanical and biological be adopted to check soil erosion.

vi) Balanced use of fertilizers be made.

 

Pak must win confidence

‘Failed’ Siachen Talks

Col (Dr) PK Vasudeva (Retd)

India and Pakistan have, as expected, failed to make any headway in ending the military standoff on Siachen. The two sides stuck to their stated positions, merely committed themselves to “serious, sustained and result-oriented efforts” for an amicable settlement of the issue and “acknowledged that the ceasefire (in Siachen) was holding since 2003.” Thus, at the end of the talks in Islamabad, the usual joint statement was released, followed by an agreement to hold the next secretary level talks in Delhi on a mutually convenient date.

It is no secret that both the countries have held many rounds of discussions on demilitarising the glacier, known as the world’s highest battlefield, where Indian and Pakistani troops face each other at elevations between 3,600 m and 5,700 m in sub-zero temperatures. The subject has also been part of peace talks between the two nations since the 80s after India captured vantage positions in the area.

Emerging from the recent talks with her Indian counterpart Shashikant Sharma, Pakistan’s Defence Secretary Nargis Sethi had stated that Islamabad wanted both sides to simultaneously pull out troops from Siachen to 1984 positions. The deployment of troops, it was contended was affecting the environment and talks should be speeded.

New Delhi, stung by the occupation of the strategic heights in the Kargil sector in 1999, has called on Islamabad to authenticate and demarcate the 110-km Actual Ground Position Line (AGPL) on the Siachen glacier. It fears that a troop pullback “would set a troubling precedent and put pressure on New Delhi to resolve the festering dispute of Jammu and Kashmir”. The move is aimed at thwarting the possible re-induction of troops by Pakistan after any demilitarisation of the glacier. India has made it amply clear that any settlement must include the authentication and demarcation of the current military positions on Siachen.

While both sides continue to hold their positions, Pakistan Army Chief Ashfaq Parvez Kayani did at least put the focus on the issue, when in a rare statement in April he stated that the conflict should be resolved. He did so at Skardu, in Pakistan-occupied Kashmir, soon after visiting Gyari, the site of an avalanche in Siachen that buried 124 soldiers of Pakistan’s 6 Northern Light Infantry and 11 civilians.

There is no denying the fact that every army jawan and most officers would eagerly look forward to a peaceful settlement of Siachen for after all, they bear the brunt of military operations in the most extreme hostile weather conditions. Additionally, the whopping amount of money spent on the military operation would be better spent on roti-kapda-makan (food, clothing and house) for India’s 80% of the population which lives, rather, survives on less than $1 per day. But this argument, while valid in principle, hits the hurdle of there can be no compromise with national security issues.

However, the question about the genuineness of Gen Kayani’s “peace” initiative is under cloud. Apparently, it seems to be driven by his urgent need to cover up the long-standing lie sold to the Pakistani people that their soldiers are dying on the Siachen glacier while facing Indian troops. However, Gayari is merely in the Siachen region and not on the glacier, where Indian troops hold guard on the commanding heights. Demilitarisation involves India losing both strategic and tactical advantage, whereas for Pakistan it is a strategic gain traded off against a small tactical loss.

It would be unwise for New Delhi to delink Siachen from other issues such as cross border terrorism etc. Taking this call for “peaceful co-existence” from a Pakistan Army Chief at face value would be a strategic folly. The Pakistani establishment be it civilian/military, has always been anti-India and gone back on its word more than once, thus making mockery of New Delhi’s several initiatives for genuine peace. It is true that India wants peace, but it would be imprudent to buy that peace at major security risks. Gen Kayani cannot and should not be trusted because unprovoked firing continues on the LoC and Siachen.

Notably, as per reports, Islamabad is talking or has already negotiated leasing the Gilgit-Baltistan region, which is part of Pakistan Occupied Kashmir (POK), to China for 50 years. This includes the area now occupied by Pakistan, facing us at Siachen. If India pulls out of Siachen, re-occupation of the posts will be almost impossible, especially if China sneaks into the commanding heights vacated by the Indian troops. A Chinese military commander with the least bit of initiative would move his troops into forward posts presently occupied by Pakistani troops.

In such a situation, there is bound to be hostility between India and China, which is not a party to any “peace” agreements between New Delhi and Islamabad. In the context of China having moved several divisions of troops into its Tibetan border with India including missile units within easy missile strike range of New Delhi, hostilities on Siachen could trigger unacceptable military response from Beijing.

In the long run, demilitarisation of Siachen may be desirable, but this is not the time, when New Delhi is not in a position of strategic advantage. Today and in the near future, India will be on the back foot because of growing security liability in Afghanistan (principally due to the impending NATO pull-out), having been sucked into the region because of our strategic alignment with the US following the India-US nuclear deal and the Hyde Act, which assumes “congruence” in foreign policy matters.

Intrusion onto Siachen glacier by Pakistani or Chinese troops sneaking into tactically strong posts vacated by India after demilitarisation will lead to loss of the Shyok and Nubra valleys and permit a Pakistan-China link-up between Gilgit area and Aksai Chin area under Chinese control and areas illegally ceded to China by Pakistan.

Unfortunately, the military is not directly involved in decision-making at the top-most level, the National Security Council. A bureaucrat heads it as National Security Advisor to the Prime Minister and wonder whether it can be said that the military advice has been sought except perfunctorily? In a democracy like ours, the omission of the military from the nation’s highest security decision-making body must necessarily rue the military, and trusting Pakistan’s “peace” overtures over India’s own military advice may not be in India’s strategic best interest.

Conclusively an early demilitarisation of Siachen to settle the dispute “now” needs clear and realistic rethinking. The political and bureaucratic leadership needs to work in tandem with the Chairman of the Chiefs of Staff Committee (COSC) when negotiating the Siachen imbroglio. New Delhi may commit a very serious mistake by agreeing to demilitarising Siachen at present, even though in the long term, peace between the two is unquestionably desirable.

Islamabad needs therefore to come forward to instil faith and confidence for a lasting peace with India. For starters, it must demolish its well-established 48 terrorist camps in PoK that are carrying out cross border terrorism on the Indian territory. Then only can New Delhi consider its sincerity. (INFA)

Army’s coup under judicial mask?

A Prime Minister duly elected by the people of Pakistan through democratic process has been declared disqualified by the Supreme Court of that country. Disqualification is not for any serious act of treason or corruption jeopardizing national security and integrity: it is for a matter bogged with legal and constitutional controversies. Interestingly, besides declaring PM Gilani incapable of holding the post of Prime Minister, the court’s direction to Pakistan Election Commission is to arrange election to the Multan parliamentary seat vacated by Yousuf Raza Gilani.

The Supreme Court has fixed 26 April as the cut off date from which Gilani stands disqualified. In legal terms, this means that all decisions made by Gilani Government from that date till now are to be considered null and void. .It could result in many complications and cause embarrassment to the future Government in Islamabad.

Will Gilani’s ouster deepen political crisis in Pakistan or will it put an end to persistent triangular rivalry among Army, judiciary and the executive? This will generate lively debate among Pakistan watchers. Often considered the quiet man in Pakistani politics, Yousuf Raza Gilani became increasingly vocal in his criticism of the military. In late December 2011, he warned of conspiracies to overthrow the Government — seen as a reference to Pakistan’s military. “There can’t be a state within the state. They have to be answerable to this parliament,” he said. The army rejected his accusations.

But days later, PM Gilani criticised the army and intelligence chiefs for providing evidence to the memo inquiry implicating the Government. When the army said his comments could have “grievous consequences for the country”, he responded by sacking his defence secretary. Earlier Gilani had wanted to put ISI under administrative control of the Interior Ministry. The Army put its foot down. Meanwhile in April 2012 the Supreme Court found Gilani guilty of contempt for refusing to re-open corruption cases against President Zardari. It gave him a symbolic sentence of detention for a few minutes in the courtroom, leaving him free to continue in his position as prime minister. But in a shock move two months later the court announced that it was disqualifying him from office.

Pakistan was faced with internal crisis following the US military action against Osama bin Laden in Abbotabad. Sharp public resentment against the Army was noticed in the aftermath of that event. Army was keen to retrieve its shattered credibility of defending Pakistan against external threats. This was followed by another episode that widened fissures among three power players. The Army tried to capitalize on “memogate” scandal and was successful at least in claiming the head of Pakistani Ambassador Huqqani in the US. However Army’s real target, President Zardari, is still there and the case in reality was against him and not Gilani whose reputation as an honest man is above board. By the way revelations made by one Mansoor Ijaz, a Pakistani American businessman in connection with “memogate” implicated, among others, Yasin Malik the JKLF chief of Kashmir branch for links with Indian super intelligence agency.

Pakistan Army Chief General Kiyani pushed for an investigation into the “memogate” affair, saying the alleged note was a conspiracy against the army. In return, he was accused by Gilani of acting unconstitutionally. Pakistan’s military has carried out three coups in the past and there has been mounting concern that another is on the cards. However analysts say the military has little to gain from such action at a time when its hands are full with the fight against Islamist militants, insurgency in Baluchistan and financial and energy crisis. Military coup would attract strong international criticism. Therefore the workable option was a “judicial coup”. The Supreme Court has historically given legitimacy to military coups and some say the Chief Justice Iftikhar Chowdhury has dragged his feet over corruption allegations against the intelligence service while pursuing those against the Government — such as the sudden decision to disqualify Prime Minister Gilani in June 2012. The reason is sought in how the CJ absolved his son Arslan of the charge of accepting millions of dollars in bribes. Observers say that the court has not only pursued the Government over the amnesty against corruption prosecutions but is also arbitrating on the “memogate” scandal. The view now is that the military could be sitting back to let the court do the work of ousting the Government.

Now that damage has been done to the fragile democracy of Pakistan, upholding the law should be the right course for all political parties and stakeholders who are in the fray. PPP is engaged in taking the next step of electing a new Prime Minister as its alliance has a majority in the parliament. But that does not absolve President Zardari of improprieties brought against him by the Supreme Court and for which Gilani became the scapegoat. If the Supreme Court no more pursues the issue with as much ardour, it could have done that before fresh political crisis overtook Pakistan. Observers may not be stopped from thinking that this time the Army and ISI relied on a novel method of getting things done indirectly through the Supreme Court of Pakistan. Whether true or false, it does not augur well for Pakistani democracy.

As far as India is concerned, this is entirely an internal matter of Pakistan and India has nothing to say on these developments. What India is really interested about is that democracy should take firm roots in Pakistan and democratic institutions in that country should become vibrant and active. A vibrant and functional democratic Pakistan is in the interests of India and the peace in the region. We should not forget that Pakistan is a nuclear power in South Asian region and at the same time this region is in the throes of Theo- fascism. Any wrong or miscalculated step could plunge the entire region into very dangerous situation. A democratic Pakistan is the best guarantee against the dirty bomb falling in wrong hands or being used by reckless enemies of people.

Honda to invest Rs 1500 Cr in 2012 for growth

KOLKATA, June 20: Honda Motorcycles and Scooter India Limited will invest Rs 1500 crore this year for establishing its third manufacturing unit in India and maintain over 15 to 16 per cent annual growth in business.

Stating this HMSIL Vice-President,Sales and Marketing, Yadvinder Singh Guleria here today said following the commencement of the new plant at Narsapuram,about 50 km from Bengaluru,by the end of 2013,their production would touch the annual four million mark from the current about 2.8 million units,by 2014-15.

‘We have decided to increase our capacity and set up the third production unit in the wake of a very healthy growth in two wheeler business not only in India but across Asia and rest of the world’, said Mer Guleria.

Speaking to UNI on the sidelines of the formal launch of Honda’s mass motorcycle ‘Dream Yuga’at a competitive price tag of Rs 47,062(ex showroom Kolkata) with a mileage of 72 km/lt and several other attracting features,Mr Guleria claimed that currently HMSIL had been enjoying over 51 per cent share of Indian two-wheelers market.

‘In terms of sales we presently stand only behind the Hero Group,’ he said replying to a query about their current all India standings.

Mr Guleria said though at present Honda had two state-of-the- art manufcturing units at Manesar in Haryana and at Tapukara in Rajasthan with a combined total production capacity of 2.8 million units, the necessity to set up the third unit near Bengaluru was felt after the huge gap between demand and supply came to the fore last year.

He said at least 80 per cent of the total proposed investment of Rs 1500 crore,would be spent for the new plant,while the rest would be required for the promotion of brand image and other purposes.

On the present trend of customers preferences for motorbikes, Mr Guleria said though majority people still opted for 125cc and 150cc bikes,the demand for superbikes of 1000 cc or more with an average price tag of Rs one million,had been increasing quite steadily.

‘As there is no production facility for superbikes in India with the entire product being imported from abroad,the current depriciation of Indian curreny had indeed some negative effect on sales.

‘Last year we sold about 1,000 superbikes in India,’ he said but refused to share this year’s projected figure.

To another query Mr Guleria said the demand for scooters was was also growing steadily across the country for the past few years,particularly among the women.

About the total size of two wheeler market in India,he said last year more than 2.1 million bikes and scooters were sold. This year with about 20 per cent growth about 2.7 million units were expected to reach the customers. (UNI)

Spotlight on shared culture at African festival in India

NEW DELHI, June 20: Artists from various African nations showcased lively dances and music juxtaposing them with performances by Indian artists at an Africa Festival here, aimed at strengthening cultural ties between the countries.

Zambia, the Syechelles, Ghana, Senegal, Sudan and Mali participated in the two-day event ending on June 19 that was organised by the Indian Council for Cultural Relations (ICCR).

The event highlighted the similarities between the cultures of India and Africa like that of community living prevalent in both societies.

Eric Baffourawuah, team leader for the dance troupe from Ghana says, “Our performance here on stage is actually danced in an open space in front of the community. We believe in living in community. If someone in the community punishes your child for doing something wrong, you cannot say anything about it. It is the right of the community to do so in which you live.”

So also, the even provided a close view of differences in dance from participating countries.

While Indian dance forms employs plenty of hand and leg movements, dance forms from Africa involve complex gestures and body movements.

Jarson Phiri, the choreographer for the Zambian dance troupe says, “Every province of every country of Africa has its own dance form. Not only this we have different dances for different occasions…The dance that we performed here was Vimbuza, which is basically a healing dance to cure mental illness.”

Likewise, Baffourwuah points out that the dance form Sohu is popular in Ghana but diligence must be exercised during performances. “It is done in the honour of the Gods and if you make even a small mistake in the dance movements you can even land up getting death penalty.”

The National Cultural Troupe of Seychelles presented a dance that showed multi racial culture of Seychelles.

“There are a lot of Indians living in Seychelles and have married Seychellians there. This is why our culture today is called the Seychellwa culture. Our music is very different from Indian music, but if we come together we can create something out of it as the dance that we performed here was an African dance with an Indian idea,” says Marietta Matombe, troupe leader for Seychelles.

Bharatanayam dancer Geeta Chandran, who choreographed the festival says,” The part which was most difficult was when we had to match Western dance form with the ethnic dance form of Africa.”

“When you see the presence of so many performers from Africa in their vibrant traditional coloured dresses along with Indian dancers in saris, what more do you want. This is the real India-Africa bonding. Culture plays a unique role in underlining the link sand growing relations between India and Africa and builds everlasting understandings,” says ICCR director general Suresh Goel.

The Africa festival is scheduled to travel to Jammu, Varanasi, Ahmedabad, Chandigarh and Haridwar. (PTI)

Daiichi Sankyo to sell Ranbaxy’s products in Venezuela

NEW DELHI, June 20: Japanese pharma major Daiichi Sankyo will start selling Ranbaxy Laboratories products in Venezuela under their hybrid business model, the two companies said today.

Daiichi Sankyo’s subsidiary Daiichi Sankyo Venezuela S.A. would begin marketing products of Ranbaxy, which has been marketing its drugs in Venezuela through a local distributor, the two firms said in a joint statement.

“To kick off the new arrangement Daiichi Sankyo Venezuela has already started the promotion of Ranbaxy products starting this month,” it added.

The Venezuelan pharmaceutical market is the third largest in Latin America, it said.

Daiichi Sankyo will now also focus on expanding Ranbaxy’s portfolio of medicines to promote the hybrid business model, encompassing both innovative and established pharmaceuticals to expand and strengthen its presence in Venezuela, the statement said.

Under the hybrid business model adopted by the two firms, Ranbaxy primarily focuses on generic medicine research both for itself and its parent firm, while the new drug discovery programme is undertaken taken up by Daiichi Sankyo. (PTI)

PEC invites bids for import of 18,000 tonnes of RBD Palmolein

NEW DELHI, June 20: State-run trading firm PEC has invited bids for import of 18,000 tonnes of refined, bleached and deodorised (RBD) palmolein for the domestic market.

The last day for submission of bids is July 25 and the contract will be awarded on the same day, PEC said in a notification on its Website.

The firm has asked for the shipment of 9,000 tonnes of the refined soyabean oil to be delivered at the Chennai and Tuticorin ports between June 25-30 and another 9,000 tonnes to be shipped at the same ports between July-5-15, it added.

The palmolein to be imported should be from Indonesia and/or Malaysia, it said.

RBD palmolein is a refined, bleached and deodorised form of palm oil, which is extracted after crushing palm fruit. It is used as edible cooking oil.

MMTC, PEC and STC import edible oils on behalf of the government for distribution through ration shops. Import duty on crude edible oil is nil and 7.5 per cent on refined oil.

India had imported around 8.37 million tonnes of edible oil in the 2010-11 oil year (November- October). (PTI)

Japan passes law to insure Iran oil imports

TOKYO, June 20: Japan’s parliament approved government guarantees on insurance for crude oil cargoes from Iran on Wednesday, paving the way for it to become the first of Iran’s big Asian oil buyers to get round new European Union sanctions.

The law will take effect on June 27, a government official who requested anonymity said on Tuesday.

It allows the Japanese government, which has succeeded in getting a waiver from U.S. Financial sanctions, to provide cover of up to $7.6 billion for each tanker carrying Iranian crude bound for Japan in the event of accidents.

An EU ban on member countries importing Iranian oil takes effect on July 1 and includes a ban on EU insurance firms from covering Iran’s exports. That is a headache for Japan, South Korea, China and India, which together buy two-thirds of Iran’s oil exports and rely on EU companies to insure them.

EU and U.S. Sanctions aim to cut the oil revenues on which Tehran depends to force the Islamic Republic to curb its nuclear programme. The West suspects Iran’s aim is to develop nuclear weapons, while Tehran says it needs reactors to provide electricity.

Iranian oil accounted for nearly 9 percent of Japan’s crude imports last year. Japan has reduced the flow already to comply with U.S. Sanctions requiring buyers to make sizeable cuts, but wants to avoid more drastic reductions that could drive up energy import costs and hurt the world’s third-largest economy.

Refiners have cut their purchases even though Japan needs more oil to fire power stations after last year’s Fukushima disaster led to a halting of reactors providing nuclear power.

It is the first time Japan has sought to provide guarantees on marine shipments, an official in the country’s transport ministry, which sponsored the legislation, said earlier. (AGENCIES)

Cement stocks plunge amid penalty worries

MUMBAI, June 20: Cement stocks lost ground today, falling by up to 4 per cent amid reports that competition watchdog CCI may soon impose penalty on them over alleged price cartelisation.

Shares of ACC fell 3.82 per cent to Rs 1,180.80, while Ambuja Cements lost 3 per cent to Rs 165.55 and UltraTech Cement plunged 3.31 per cent to Rs 1,396.70 on the BSE.

Among others, India Cements was trading lower by 0.99 per cent, Madras Cements was down 2.42 per cent.

According to news reports, CCI is believed to have slapped penalty of about Rs 3,000 crore on 11 big cement manufacturers, found guilty of being involved in price cartel.

CCI was probing the cartelisation charges based on complaints from realtors’ body, Builders Association of India (BAI), which alleged that the retail prices fixed by cement manufacturers were almost same. (PTI)

ONGC, CNPC ink partnership in hydrocarbon sector

DEHRADUN, June 20: A landmark MoU for hydrocarbon cooperation has been signed between ONGC and CNPC (China National Petroleum Corporation), the global energy giants with strong international presence.

The MoU was signed by CMD, ONGC Sudhir Vasudeva and Chairman, CNPC, Jiang Jiemin at New Delhi, an ONGC press release said.

This MoU will be a crucial signpost for the economic powerhouses of India and China as both countries look to establish and consolidate their energy portfolios globally.

The companies have already set up a robust cooperative relationship, through their respective affiliates, mainly in the areas of upstream exploration and production business.

With this MoU, the companies have agreed to foster their cooperation either directly or through their subsidiaries by expanding cooperation in upstream E&P areas, refining or processing of crude oil and natural gas in midstream or downstream projects, marketing and distribution of petroleum products and construction and operation of oil and gas pipelines.

The areas of cooperation between ONGC and CNPC will also extend to joint participation in suitable hydrocarbon projects in other countries of interest by exchanging information and working for mutual growth and benefit by extending cooperation in hydrocarbon sectors globally.

Speaking on the occasion, Sudhir Vasudeva, CMD, ONGC drew upon the positive and productive experience of working with CNPC in OVL’s international operations in Syria, Sudan and the Myanmar Pipeline Project where CNPC is a key participant.

Jiang Jiemin, Chairman, CNPC s emphasized that this MoU will go a long way towards establishing a strategic partnership.(UNI)