Vedanta Launches Phase 2 of ‘Meal for All’ Program to Daily Wage Earners

Vedanta Limited a subsidiary of Vedanta Resources Limited, a global oil & gas and metals company, has launched Phase 2 of its “Meal for All” program to provide meals to daily wage earners across the country during the Covid-19 pandemic.

The program successfully provided more than 11.08 lakh meals to daily wage earners in the first phase. The project also distributed 49,626 dry ration packets to local communities and engaged more than 15,000 women in mask-making activities. The program not only provided aid to the suffering people, but also extended a helping hand to stray animals in the rural and urban areas. More than 12.70 lakh stray animals were fed in Delhi, Mumbai, Jaipur and Pune in the first phase.

Speaking on the initiative, Mr. Anil Agarwal, Chairman - Vedanta Resources, said, “The spread of Covid-19 pandemic has led to the closure of many economic and employable institutions. This has left a huge number of daily wage earners stranded without any scope of income and daily essentials.  Our initiative is an effort to provide them with the basic necessities and ease their pain as much as possible. We aim to reach maximum number of people with this initiative and provide a ray of hope to the daily wage earners and give them strength.”

The Phase-2 of the ‘Meals for all’ program was flagged off by Mr. Gunvant Patel, noted entrepreneur and philanthropist. It will be a week-long initiative with a target of reaching 38,000 daily wage earners and their families across Delhi, Mumbai & Ahmedabad. They are being provided with ration kits consisting of daily essentials such as Rice, Pulses, Refined oil and Spices along with a pair of slippers. The project aims to provide better living conditions to people in the coming days whilst providing a temporary relief.

Complimenting Vedanta on this initiative, Mr. Gunvant Patel said, “The pandemic is truly a test of our resilience and the strength of togetherness, this is the moment where we have to come together to give, share and reach the people in need. Vedanta’s gesture through the program “Meals for all” is an example of humility and how such initiatives are so important during times like these. I am glad to contribute to the program and look forward to maximize our effortsrogram 

Vedanta Limited a subsidiary of Vedanta Resources Limited, a global oil & gas and metals company, has launched Phase 2 of its “Meal for All” program to provide meals to daily wage earners across the country during the Covid-19 pandemic.

The program successfully provided more than 11.08 lakh meals to daily wage earners in the first phase. The project also distributed 49,626 dry ration packets to local communities and engaged more than 15,000 women in mask-making activities. The program not only provided aid to the suffering people, but also extended a helping hand to stray animals in the rural and urban areas. More than 12.70 lakh stray animals were fed in Delhi, Mumbai, Jaipur and Pune in the first phase.

Speaking on the initiative, Mr. Anil Agarwal, Chairman - Vedanta Resources, said, “The spread of Covid-19 pandemic has led to the closure of many economic and employable institutions. This has left a huge number of daily wage earners stranded without any scope of income and daily essentials.  Our initiative is an effort to provide them with the basic necessities and ease their pain as much as possible. We aim to reach maximum number of people with this initiative and provide a ray of hope to the daily wage earners and give them strength.”

The Phase-2 of the ‘Meals for all’ program was flagged off by Mr. Gunvant Patel, noted entrepreneur and philanthropist. It will be a week-long initiative with a target of reaching 38,000 daily wage earners and their families across Delhi, Mumbai & Ahmedabad. They are being provided with ration kits consisting of daily essentials such as Rice, Pulses, Refined oil and Spices along with a pair of slippers. The project aims to provide better living conditions to people in the coming days whilst providing a temporary relief.

Complimenting Vedanta on this initiative, Mr. Gunvant Patel said, “The pandemic is truly a test of our resilience and the strength of togetherness, this is the moment where we have to come together to give, share and reach the people in need. Vedanta’s gesture through the program “Meals for all” is an example of humility and how such initiatives are so important during times like these. I am glad to contribute to the program and look forward to maximize our efforts.

Will oil prices rebound in post-Christmas trade?

World oil prices rebounded in Asian trade on Friday after tumbling to four-year lows before the Christmas break, with economic gloom weighing on the market, analysts said.

New York's main contract, light sweet crude for February delivery, rose 93 cents to 36.28 dollars a barrel after closing down 3.63 dollars at 35.35 in US trade on Wednesday.

Brent North Sea crude for February delivery rose 1.04 dollars to 37.65 dollars. In London the contract settled on Wednesday 3.75 dollars lower at 36.61 dollars, its lowest since July 2004.

After taking a one-day trading break for Christmas, oil reopened higher on Friday partly because of technical factors, said Ken Hasegawa, manager of the energy desk at Newedge Japan brokerage.

"After a sharp drop in sentiment on Wednesday, before the holidays, today (there is) a slight technical rebound," he said from Tokyo.

Another factor boosting prices was the US government's latest weekly report on crude stockpiles in the world's largest energy consumer, Hasegawa said.

The Energy Information Administration (EIA) report, released Wednesday, showed US crude inventories sank 3.1 million barrels in the week ending December 19. The drop was far heavier than market expectations.

The EIA added that crude reserves were 9.1 percent higher than at the same stage last year.

Analysts said that recent US data showing that the world's biggest economy remains in a recession were likely to keep crude oil prices under pressure in the immediate term.

A sharp global economic downturn that has slashed the world's demand for energy has led the price of crude oil to collapse by about 75 percent since hitting record highs above 147 dollars per barrel in July.

Oil markets are pricing in a continued decline in economic activity despite efforts by governments around the world to stimulate activity, MF Global energy analyst John Kilduff said.

"The energy markets appear as unappreciative of the stimulus efforts as any of the other markets and the pricing in of doom and gloom are producing price levels that transcends reality," he said.

"Obviously we haven't reached the ultimate end point yet."

The Organisation of the Petroleum Exporting Countries (OPEC), which produces about 40 percent of the world's crude, agreed last week to cut output by 2.2 million barrels per day to shore up the market.

Prices have continued to slide despite OPEC's announcement.

Source: Agencies