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Domestic fuel prices high due to weak rupee against USD: Pradhan

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New Delhi, Sep 8 (IANS) Union Petroleum Minister Dharmendra Pradhan on Saturday said a weak Indian rupee against the US dollar and supply side constraints have led to high domestic fuel prices.

The minister’s comments come in the backdrop of the petrol price crossing the record high level of Rs 80 per litre in Delhi.

The rupee, according to Pradhan, is as “strong as ever” in comparison to currencies other than the dollar.

“Today Indian currency is stronger as ever in comparison to other currencies, but oil… How do we purchase our oil? Through dollars… Today, dollar in a way is world’s biggest exchange currency, that is creating problem for us,” the minister said on the sidelines of the Global Mobility Summit here.

The Indian rupee stood at 71.73 per US dollar on Friday — 73 paise weaker from the previous week’s close of 71 per greenback.

Currencies globally have depreciated against the US dollar in the past few weeks due to global trade concerns and following a plunge in the Turkish Lira after the US threatened sanctions on Turkey.

He further said that the Organization of Petroleum Exporting Countries had assured of increasing oil supply from July 1, 2018, but has not been able to do so due to internal issues in some of its member countries, which has increased pressure on oil supply.

Regarding initiatives to decrease dependence on conventional transportation fuel, Pradhan said that the government is focusing on increasing ethanol and bio gas production among others.

Speaking at the conclave about the gas based transportation solutions, the minister said that the use of compressed natural gas (CNG), liquefied natural gas and bio-CNG is being promoted in the sector, and there are plans in place to have about 10,000 CNG stations within a decade, covering over half the country.

On the issue of promoting LNG as a fuel for long distance transportation by heavy commercial vehicles, he said that efforts are being made by public sector oil companies and some private enterprises in setting up LNG distribution infrastructure.

–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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