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India, Nepal to ink petroleum pipeline deal on Monday

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Credit: www.ndtv.com

Kathmandu: The much awaited Nepal-India petroleum pipeline project is set to take-off with the signing here on Monday of an MoU for construction of the 41-km Amlekhgunj-Raxaul petroleum pipeline with Indian assistance.

Nepal’s Minister for Commerce and Supplies Sunil Bahadur Thapa and Indian Minister for Petroleum and Natural Gas Dharmendra Pradhan will sign the framework agreement in this regard. The Memorandum of Understanding (MoU), to be signed between the two neighbouring countries, is about constructing a petroleum products pipeline from Raxaul (India) to Amlekhgunj (Nepal) and re-engineering of Amlekhgunj Depot and allied facilities.

Nepal’s ministry of commerce and supplies said the MoU would promote bilateral cooperation in the oil and gas sector and secure long-term supply of petroleum products to Nepal. Pradhan arrived here on Sunday for the signing of the MoU.

Credit: www.nepalmountainnews.com
Credit: www.nepalmountainnews.com

“It will further help to promote existing close and friendly relations between the two countries and their people. It would help save transportation cost, reduce leakage, and unhindered supply of petroleum products,” it said. The MoU will promote bilateral cooperation in the oil and gas sector and secure long-term supply of petroleum products to Nepal. It would help preserve the environment along the route and de-congest the international border at Raxaul, the Indian embassy here said in a release.

Nepal had requested India during Prime Minister Narendra Modi’s visit to the country on August 3-4, last year, for construction of this petroleum products pipeline. Bearing in mind the close and friendly relations between the two nations and their people, this was agreed to by the Indian government. On behalf of the Indian government, the Indian Oil Corporation (IOC) has been entrusted with the job to construct the pipeline and for re-engineering of the Amlekhgunj Depot and allied facilities.

The project will be completed in two phases. In the first phase, a petroleum products pipeline from Raxaul in India to Amlekhgunj in Nepal would be constructed.  The IOC will bear an expense of INR 200 crore for the first phase of the project. There will be a long-term contract of 15 years (initial contract for five years extendible for two terms of five years each) between IOC and the Nepal Oil Corporation (NOC) the state-owned petroleum supply monopoly.

The NOC will also contribute INR 75 crore for re-engineering the Amlekhgunj Depot. Thirty-nine kilometres of the proposed cross-border petroleum pipeline lies in Indian territory and the remaining two kilometres in Nepal.

(IANS)

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84% Indians Hope to Retain Their Jobs Despite Automation: WEF

Indians see automation, but hopeful of keeping jobs

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Indians jobs
Although majority of Indians think their jobs would be automated in the next 10 years, 84 per cent hope to retain their jobs. (Representational Image) Pixabay

Although majority of Indians think their jobs would be automated in the next 10 years, 84 per cent hope to retain their jobs, supported by their skills, according to a report by World Economic Forum (WEF) and Ipsos.

India tops the list in terms of expectation of jobs automation, as around 71 per cent respondents expect their jobs to be automated. Saudi Arabia comes second with 56 per cent respondents expecting jobs getting automated, and in China 55 per cent respondents feel the same.

“Interestingly, 84 per cent of urban Indians polled are confident of keeping their jobs, using the skills they possess. The survey also shows across all markets, Indians are most confident, followed by the Netherlands (83 per cent) and the US (82 per cent),” the report said.

Indians jobs
Indians realise while automation is likely they know it will act as an enabler to improve efficiencies in deliverability. Pixabay

The markets least confident of holding onto their jobs in the face of automation, include Japan (23 per cent), South Korea (33 per cent) and Russia (50 per cent).

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Commenting on the survey, Parijat Chakraborty of Ipsos India said, “Indian job market is hierarchy driven, promotions are skills and performance-led. Indians realise while automation is likely they know it will act as an enabler to improve efficiencies in deliverability; human intellect, skill-sets and capital will still be needed to get the job done.” (IANS)