Travelling, cooking and farming could become dearer following a hike in all categories of petroleum products. Even some of the essentials for the poor like kerosene and fertilisers have not been spared in the latest hike in a year. While the price of petroleum has been jacked up by 37 paise a litre, kerosene is dearer by 10 paise per litre. Domestic gas gets the worst deal with a Rs 5.03 hike per 15 kg cyclinder. Hike in the prices of naptha will push up prices of fertiliser and industrial products. The increase follows two hikes in crude prices announced by OPEC, first in July last year and the second in the current month.
Bond & black money
A 10-year bond of the face value of Rs 10,000 each was today announced by the Centre in a bid to mop up black money. An ordinance to the effect was issued by the President after an emergency meeting of the Union Cabinet. Called the special bearer bonds, the scheme gives immunity to the investor from prosecution as well as disclosure of the source of the money invested. For this purpose, it has been kept independent of the tax law administration.
India assures Pak
India has assured Pakistan that it remains committed to respecting Pakistan’s national unity, territorial integrity, and sovereignty. The assurance was given in a letter from Prime Minister Indira Gandhi to Pakistan President Zia-ul-Haq delivered by the Indian ambassador in Islamabad, K Natwar Singh.
US hostage crisis
The Iranian government has asked the country’s parliament, Majlis, for urgent approval of a legislation which will give ministers full powers to reach an agreement with Washington over the hostage issue. The bills do not seem to narrow the gap between Iran and the US but give more leeway to the Iranian government to handle the hostage issue.
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