Uttarakand news update on Sept. 24, 2010

Kingfisher to add Pant Nagar to flight network

Private air carrier Kingfisher Airlines plans to launch flights to Pant Nagar in Uttarakhand and Mysore in Karnataka by October, a source said. The launch of these proposed services is a part of the airline's plan to add over 10 per cent capacity during the winter, the source said. The airlines' winter schedule in India commences from October 29 and lasts up to March 28 every year. "We plan to launch a flight between Bangalore and Mysore, starting from next month," a source close to the development said. The proposed flights will be operated daily with a 66-seater ATR 72-500 aircraft, the source said. The airline is also mulling a flight service between Delhi and Pant Nagar in winter, the source said, adding, "We are awaiting regulatory approval. In addition, we also plan to add one more domestic station in our network, but it is yet to be finalised," the source said. Kingfisher Airlines Executive Vice-President (Commercial) Manoj Chacko recently said the airline has plans to add over 10 per cent capacity in its winter schedule to meet market demand. The airline plans to enhance the frequency of its service in the winter schedule and was also looking at adding a few more destinations, Chacko had said.

4 ministers elevated to cabinet rank

In an apparent move to strengthen his position within the ruling BJP, Uttarakhand Chief Minister Ramesh Pokhariyal Nishank last week elevated all the four ministers of state as full-fledged cabinet ministers. Vijaya Barthwal, Khajan Das, Balwant Singh Bhoryal and Govind Singh Bist were administered oath of office and secrecy by Governor Margaret Alva at a function at Raj Bhavan in Dehradun. All the four were ministers of state in the Nishank government. With this, there will be no junior minister in the state council of ministers. Nishank took over reigns of the state on June 27 last year after his predecessor B.C. Khanduri was forced to relinquish the post of Chief Minister in the wake of the party's debacle in the Lok Sabha elections. The move to elevate the four ministers to the cabinet rank is being seen as the Chief Minister's attempt to strengthen his position within the ruling BJP ahead of the 2012 assembly elections. State BJP President Bishan Singh Chufal welcomed the step saying BJP would further consolidate its hold in the state. However, there was no announcement regarding the new portfolios. Official sources said an announcement to this effect is expected to be made shortly.

25 pc power from Tehri sought

Demanding 25 per cent of power generated from 2400 MM Tehri Hydel project, Uttarakhand Chief Minister Ramesh Pokhariyal Nishank asked THDC officials to compensate the damages done due to increasing the water level of its reservoir that posed threat to human habitation. During a meeting, Nishank also asked the THDC officials to carry out a survey of the area, to be submerged when the reservoir level reaches 835 meter, and send a proposal to the Centre for compensation and rehabilitation of the affected population, an official release said. He asked the corporation officials to work in tandem with Tehri district administration while taking a decision to raise the water level of the reservoir.

SE Investments to foray into Uttarakhand

Micro finance sector lender S.E. Investments will be venturing into Uttarakhand and Rajasthan this fiscal and plans to add one lakh new customers. The non-banking financial company is also aiming to almost double its loan book to Rs 1,000 crore by March 2011, from Rs 540 crore in the last year. "We have been able to secure a customer base of 3.15 lakh customers since the start of micro finance operations in Uttar Pradesh in 2002. We have asked authorities for permission to start business in Uttarakhand and Rajasthan to tap the opportunities in these two states," S E Investments Ltd MD Sunil Agarwal said. He said permission had also been sought from the nodal agency, National Housing Bank, to expand into financing of low-cost housing of up to Rs 2.5 lakh. "Our target is to add one lakh new customers this fiscal and start of operations in Rajasthan and Uttarakhand, will give a boost to this," Agarwal said. S E Investments has a number of projects under individual and group schemes. It provides loans to low-income households with a loan size of up to Rs 50,000 with an average interest rate of 24-27 per cent. Agarwal said the firm is aiming to take its loan book to Rs 1,000 crore this fiscal. "We ended last fiscal with a loan book of Rs 540 crore and we intend to reach the Rs 1,000-crore mark by March 2011," he added.