Ministers’ panel may meet on 21st May to decide on freeing petrol, diesel prices

EGoM will also decide on ways to deal with the revenue lost on selling domestic LPG and PDS kerosene below cost

An Empowered Group of Ministers (EGoM) headed by finance minister Pranab Mukherjee is likely to meet on 21st May to decide on freeing petrol and diesel prices from government control, reports PTI.

The ministerial panel will also decide on ways to deal with the revenue lost on selling domestic liquefied petroleum gas (LPG) and public distribution system (PDS) kerosene below cost, an official in know of the development said.

"The EGoM meeting has been tentatively scheduled for 21st May. There are availability issues about one or two ministers on that day and if they are unable to make it on that day, the meeting may be postponed," he said.

Besides Mukherjee, the EGoM also includes oil minister Murli Deora, agriculture minister Sharad Pawar, chemical and fertiliser minister MK Alagiri, railway minister Mamata Banerjee, road transport minister Kamal Nath and Planning Commission deputy chairman Montek Singh Ahluwalia.

According to the terms of reference (ToR), the EGoM is to consider a pricing policy for petrol and diesel, including decontrol, he said, adding that it also has to decide on ways to bridge the deficit between imported cost and retail price of LPG and kerosene through a marginal price hike.

For petrol and diesel prices to be freed from government control, rates would have to be raised by over Rs6 a litre.

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Now, Multi-level marketing to entice investors in forex trading

Maximus Trades Inc (MAXFOREX), a Mauritius-based company which provides a trading platform in foreign exchange through an e-portal, is encouraging high-risk investment through an MLM model

The roots of Multi-Level Marketing (MLM) seem to be sinking in stronger. Maximus Trades Inc, a company formed by a few bankers and forex dealers in 1996, is operating a chain marketing model through trading in foreign exchange.

“We want your investment to continually grow, so that it can produce regular wealth and income for you and your family. We also have a desire to provide endless education on the value of forex trading and how that value can benefit you. This is a system unlike any other that you’ve seen before. Investors have the opportunity to direct their assets in an exciting Multi-Level Marketing plan that generates a steady flow of income through commissions and other sources,” states the company website.

The payments for trading are made through the company’s portal. Trading is supported by two Web-based platforms and a downloadable trading station.

“They claim to be operating from Bangkok because of high taxes in India. Some virtual transactions are done online. They also offer Rs1,500 per month on a deposit of Rs12,000. It is flourishing rapidly. Over the past 15 days, at least five marketing guys have approached me to join this scheme,” said a Moneylife reader who received such calls.

The company website claims to have offices in Athens, Barcelona, Bucharest, Istanbul, Shanghai and Tokyo.

Despite the fact that the US-based Federal Trade Commission (FTC) had already warned people against being part of such a pyramid scheme some years back, people are still lured into investing in such models without realising the ramifications.

MAXFOREX claims that it does not manage investment portfolios and is not engaged in foreign trading consulting.

It claims to have made asset allocation for 20 companies in the areas of real estate, Internet technology, insurance and retail.

Chain marketing schemes are illegal in countries like Albania, Australia, Brazil, Bulgaria, Canada, China, Colombia, Hungary, Iceland, Italy, Japan, Malaysia, The Netherlands, New Zealand, Norway, the Philippines, Taiwan, Thailand and UK.

 

 

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COMMENTS

Phong Le

1 year ago

SCHEME? IS DIRECT MARKETING A SCHEME.. MLM? IS IT?

Mzon

6 years ago

We want your investment to continually grow, so that it can produce regular wealth and income for you and your family. We also have a desire to provide endless education on the value of forex/equity/commodity trading and how that value can benefit you. This is a system unlike any other that you’ve seen before. Investors have the opportunity to direct their assets in an exciting projects/plan that generates a steady flow of income through multiple sources

gulshan dua

7 years ago

site khole kisi ka vishwas na tore

r r singh

7 years ago

i am working in nationalized bank.
jo log fd karwane aate the maine unka paisaa is company me lagaya. agar unka paisa nhi mila to wo muje maar denge. main ek beehad gaon me posted hoo. plz save me. iam ruined. poora paisa lagaya tha apna aur bahut sare logo ka ab kya karu koi to batao.

DINESH SHARMA

7 years ago

according to maxforex company news we have to wait. company told the live chaiting portel giving in october month. we are still in october month.
BUT IF SOMEONE GIVE ANY PROOF, COMPANY IS FROUD, THEN I WILL DEFINETLY ACCEPT.
.
dinesh sharma (delhi)
09958255993

ABHAY

7 years ago

sir,new site has opened on the name of dreamworldwide.biz and login will be start very soon

santosh

7 years ago

aaaaaaaa

h singh

7 years ago

MAX FOREX @ http://www.maxforexonline.biz ...an i forex company has defrauded lots of innocent people by setting up a vast network in India. Since Oct 13th 2010 this company dissappeared from the net. All the investors were unable to access their account i.ds on company website http://www.maxforexonline.biz. This company has all its business online and claims to open new offices all over India soon. Finally this is cleared that it was a fraud network and company which cheated many people of their hard earned money...So finally we decided to fight against this fraud and to recover our hard earned money back. Lots of investors have already joined us to fight against this fraud company and get our hard earned money back at any cost. We hired a team of best cybercrime experts to reach the roots of this fraud network and then legally take action against them.We need help & support of the victim investors, so please come forward and help us so we can help you, Its only possible with your help. PLEASE MAIL US (1).YOUR NAME & ADDRESS (2).INFO OF AMOUNT (3).DATE OF INVESTMENT...So we can have proper data. Our E. Mail id : [email protected]
Do mail us your views. All your mails will be kept confidental.
THANKS

ANJUM SUKHIJA

7 years ago

hi sir ,i had invested a huge amount in maxforexonline.biz,they offered Rs 2.4 lakh,for the investment of 1lakh after 13 months,out of which 1st mnth is lock in period in whch there is no return given to the invester,after that return comes in ur acc on net,in dollars,whch is later transfered to the senior to get it changed to rupees,every month i received rs 20400,nd now the site of this cmpny is nt opening on net,nd m feeling as if it is a frawd cmpny,whch had emptied pockets of a number of lalchi investors including me,nd i thnk dat it is a frawd of near abt 1500 crores,

AJAY

7 years ago

can we invest in this company?

Ajay Pal Singh

7 years ago

iam ready to invest but please tell me the risk factor with details.

chander

7 years ago

is max forex a fraud ?

hitesh

7 years ago

sir i want to know more about maxforex
is it is legal and tell me about the risk in this buisness also suggest me should i do this or not

rachna handa

7 years ago

is it legal to invest in maxforex in india ? what else maxforex do apart from forex trading ?

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