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Cabinet hikes ethanol prices by Rs 3 per litre (Lead)

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New Delhi, June 27 (IANS) The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a mechanism for procurement of ethanol by Oil Marketing Companies (OMCs) and hiked ex-mill price for ethanol derived out of ‘C’ heavy molasses by Rs 3 to Rs 43.70 per litre.

Addressing the media here, Union Finance Minster Piyush Goyal said the move will have positive impact on the capability of sugar industry to pay farmers’ dues and blending of 10 per cent ethanol with petrol by public sector OMCs to carry out the Ethanol Blended Petrol (EBP) Programme.

The move will “encourage investment” in the sector which will also bring down imports of petroleum products, he said.

“We were keen to create more holistic framework in which pricing of ethanol over longer period can be given some stability and credibility. So we can encourage some investment in the ethanol production space,” Goyal said.

The EBP programme had started in 2003 but it was languished till 2014, the Minister said.

“During 2004-14, very small amount of blending took place. After Modi government came in 2014, ethanol supply has increased significantly. In 2013-14, OMCs procured 38 crore litres. It has increased to 140 crore litres in 2017-18,” he said.

“It has helped us in bringing down imports of petroleum products. Also, it has given alternate revenue stream to the sugarcane industry which indirectly goes to support sugarcane farmers.”

Goyal said the government had increased ethanol derived out of ‘C’ heavy molasses to Rs 43.70 per litre for the period of December 2018 to November 2019 from the prevailing prices of Rs 40.85 per litre.

Also, the government has fixed Rs 47.49 per litre for ethanol derived from ‘B’ heavy ethanol.

Industry body Indian Sugar Mills Association (ISMA) welcomed the move, saying the industry would respond positively by creating new ethanol production capacities in the next few years.

“This is a long-term measure which will bear fruits in the medium term and give positive results for the betterment of the sugarcane farmers and sugar producers,” a release quoted ISMA Director General Abinash Verma as saying.

On the decision of fixing higher prices of ethanol for ‘B’ heavy molasses, Verma said: “This innovative step to encourage diversion of ‘B’ heavy molasses and sugarcane juice away from surplus production of sugar into ethanol will go a long way in balancing surplus sugarcane availability in future.”

As the price of ethanol is based on estimated Fair Remunerative Price (FRP) for sugar season 2018-19, it will be modified by the Ministry of Petroleum and Natural Gas as per actual FRP declared by the government.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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