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Thursday, September 26, 2002,
Chandigarh, India  
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TRAI may hike monthly rental, local call rates Advani to
meet ministers over VSNL
Petrol, diesel to cost more in India
Gail to diversify into LPG marketing |
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Air Hostess Academy to open branch in city Chandigarh, September 25 The Air Hostess Academy (AHA), a manpower agency, will open its first branch outside Delhi here tomorrow. The AHA, which has four branches in Delhi, was established in 1997 by Ms Sapna Gupta, Director of operations of the academy. The branch in Chandigarh would be its first branch outside the national Capital.
Birla Home Fin launches ‘Loan Deposit Scheme’
India FDI receipts up
68.6 pc
Balmer Lawrie sell-off by March 2003
In graphic: Urea production
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TRAI may hike monthly rental, local call rates Chandigarh, September 25 However, Mr M.S. Verma, Chairman of the regulatory body, noted that TRAI was concerned over the decline in revenue despite the upward revision of rentals. Since the national telecom policy aimed at improving access to service and to enhance tele-density in the country, TRAI wanted to take care of this objective as well, besides the interest of the operators and the long term viability of new operators. It had urged the telecom operators and consumers to submit proposals by mid-October, so that it could finalise the new tariff rate by November end. Mr Vijay Kaul, Chief Marketing Officer, HFCL Infotel Ltd, admitted that, “We are providing local calls at Rs 1.20 per three minutes despite increase in rentals as the actual cost of local call is around Rs 3 per three minute to the company. Prior to the decline in tariff rates on STD and ISD, we were adequately subsidised by a share from long distance calls. Though we are getting the same share at 70 paise on Rs 1.20 per pulse of NLD and 50 paise on Rs 1.20 pulse of ILD, but our total share has declined by 30-35 per cent due to decline in total value of
calls. We are expecting that the market leader, BSNL would stress upward revision of monthly rental and local call rates to ensure the viability of the operations.” Mr Prithpal Singh, Chairman and MD of BSNL said, “We are studying the proposals of TRAI and would submit our response in the next few days.” However, insiders said the only way to compensate the telecom operators, especially the private operators, was to increase the monthly rental and the local call rates. However, consumer associations were expected to strongly oppose the decision. The officials concerned with the preparation of this paper, said, “They were open to all suggestions and would wait for the response of operators and consumers before taking any decision.” Since 98 per cent of the basic services market was still dominated by BSNL and MTNL, they said, the tariff plan would depend upon their response. Others would have to simply follow them. TRAI had also noted that in view of the objectives of the national telecom policy, the introduction of cost-based rates for local calls could be achieved only in phases, but it would like to correct the imbalance to some extent in the revised tariff plan. It had already allowed, said another senior official of TRAI, operators to offer alternative tariff package along with standard tariff package to adjust the subsidised local calls. |
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Advani to meet ministers over VSNL
Mumbai, September 25 “We had an hour-long meeting yesterday, which remained inconclusive and in addition, it was also interrupted due to the Gandhinagar incident, so the ministers have decided to meet again on October 5” Mahajan told newspersons after inaugurating a two-day Nasscom-Gartner Summit 2002 here today. The interconnect lines between VSNL and Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) would not be cut on October 1, he said adding, there has been no interconnect agreement between these entities since April 1 this year and they were also not getting any money. Mahajan had set October 1 as a deadline for VSNL to come up with a fresh proposal for interconnect with BSNL as the former would have to match the terms offered by other international carriers like Bharti to get first priority. “Singh is leaving for New York and I am going to Mauritius to inaugurate an IT city, which has been given a soft loan of $ 100 million, and both will be back by October 4”, he said. The minister said if the concerned parties come to a conclusion before the proposed meeting, the same would be considered by the ministry. PTI
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Petrol, diesel to cost more in India
New Delhi, September 25 This would be the second hike in India within 15 days. It was only on September 16 that petrol prices saw a hike by 50 paise per litre and diesel prices by 34 to 40 paise per litre. From October 1 the prices could rise more than Re 1. Petrol in Delhi has been costing Rs 29.66 per litre since September 16 and diesel Rs 18.68 per litre. Although the Indian Government indirectly controls crude oil price through reduction in excise duties on imports, the procedure awaits review meetings between the Finance and Petroleum Ministries. This would not happen before October 3, as Finance Minister Jaswant Singh would be away in the U.S.A. “The two options before the government is either to reduce the excise duty or to make the oil companies take a beating on their profit margins under the present circumstances,” said A. V. Nayak, energy expert with the CII. In New York, the benchmark light sweet crude November contract rallied 78 cents to a barrel to $30.62, the highest level since February 2001, while in London the reference Brent North Sea crude oil for November delivery rose to $29.11 a barrel in late trading from $28.43 at the previous close. Although the Indian manufacturing industry is still on a slow growth mode, with high inventory of fuel stock the rise in crude prices is already pushing up India’s inflation. According to the Institute of Economic Growth (IEG), inflation is set to soar to 4.3 per cent in the next three months from the present 3.4 per cent due to high growth in money supply and drought-induced increase in prices of basic commodities and petrol and diesel. Based on the available formation, the IEG in its latest report said that inflation rate (based on wholesale price index) “for the next three months beginning September to be 4.37, 4.32 and 4.23 percent respectively.” Although oil companies in India have been allowed to fix prices of petroleum products at import parity ever since the lifting of the marketing and pricing curbs in April 2002, the government has indirectly influenced the prices to cushion the consumers. Even after the last round of price hikes on September 16, domestic petrol prices were up to one rupee a litre short of the import parity price, while diesel’s current domestic prices were 67 paise short of import parity. With crude oil prices shooting past the $30 a barrel mark the situation has only got worse. The Indian basket of crude averaged little less than $25 a barrel in June when excise duty on petrol and diesel was cut by two per cent. It has now jumped to $30.48 a barrel and warrants another round of duty cuts. The Petroleum Ministry has sent a proposal to the Finance Ministry for the next quarter review. Dialogue between the finance and the Petroleum Ministry was not possible earlier as Petroleum Minister Ram Naik was away in Osaka attending the International Energy Forum. The minister had bilateral talks with major oil producers urging concessions to developing countries like India, which depend on exports for 70 per cent of its hydrocarbon requirement. IANS
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Gail to diversify into LPG marketing New Delhi, September 25 “Mergers and acquisitions have been adopted as a growth strategy to reap the benefits of the emerging opportunities”, Chairman and Managing Director of GAIL, Mr Proshanto Banerjee told newspersons here today. “The process of due diligence has been completed for Engineers India Limited (EIL) and similar exercise for Haldia Petrochemicals Limited (HPL) has started,’’ he said. “As regards Dabhol Power Company, a decision is to be taken by the lenders to initiate the process. GAIL continues to be interested in the LNG facilities at Dabhol,’’ he said. Among other business avenues Mr Banerjee said that the company has shortlisted eight cities for city-gas and
CNG-distribution ventures. In addition GAIL is also examining auto-LPG distribution options, which has been identified as a key growth area. The company has also sought permission to enter the LPG retail marketing business and venturing into marketing of industrial and commercial LPG. The public sector giant has also initiated a consultancy study for CNG in Bangladesh and also pursuing a CNG project in Indonesia. “GAIL visualises tremendous potential for gas trade in the form of CNG involving coselle technology using special ships,’’ Mr Banerjee said. As part of the globalisation strategy, the company has entered into an MoU with National Iranian Oil Company (NIOC) of Iran for CNG infrastructure and marketing and the proposed Indo-Iran gas pipeline. The turnover of the company during the last fiscal year stood at Rs 10,553 crore as against Rs 10,087 crore of the previous year. |
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Air Hostess Academy to open branch in city Chandigarh, September 25 The AHA, which has four branches in Delhi, was established in 1997 by Ms Sapna Gupta, Director of operations of the academy. The branch in Chandigarh would be its first branch outside the national Capital. Ms Gupta in an interview with TNS here today said, “The city is not only spic and span and largely free from the hustle and bustle of the metros but is also more organised and orderly. Its people are also well educated and well behaved. “I have been interacting with them in Delhi and have found them to be smart with a good and pleasing personality. And most of them speak good English. That is just what we are looking for because we specialise in providing quality manpower to the service sector. Moreover, Chandigarh is the gateway to Punjab, Haryana and Himachal Pradesh. That is why I have always been keen on opening a branch here”. The AHA is an ISO 9001: 2000 certified company which caters to the service industry. Since its inception in 1997, it has been catering to the manpower requirements of MNC’s like GE, British Airways, Lufthansa, Taj, Marriott and several other prominent hotels. Apart from catering to the aviation industry, the AHA also provides training for hotel, air catering organisations, ground services, call centres etc. Ms Gupta has also mooted the idea of a school of foreign languages which will teach 10 foreign languages namely English, French, German, Spanish, Korean, Japanese, Russian, Italian, Chinese and Arabic. |
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Birla Home Fin launches ‘Loan Deposit Scheme’ Chandigarh, September 25 Targeted at all
salaries, businessmen, traders, shopkeepers, factory workers and government employees in the age group of 18-54, the scheme consists of two phases viz. saving phase and the loan phase. The scheme requires a members to have on a monthly/quarterly basis for a specified period of three to five years with 5 per cent compounded interest rate. After the completion of the specified tenure the member would be entitl4d for a home loan at a concessional rate of interest for the purpose of purchase or construction of residential houses property in India. Birla Home Finance Limited offers its member loan at guaranteed 7 per cent interest on annual reducing balance, making it the most lucrative offer one can get. The loan offered to the member would be double the value of his savings polus interest. Speaking about the unique product, M Dr Klause Baetz, Executive Director, Birla Home Finance Limited, said “This is for the first time such a scheme has been launched in India. Easy Home loan deposit scheme has several advantages. |
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India FDI receipts up 68.6 pc
New Delhi, September 25 The growth was even stronger in the financial year at 69 per cent with FDI inflows of $ 1.47 billion during April-July, 2002 period against 0.87 billion in the comparable period of last fiscal. These inflows are net of the American Depository Receipts (ADRs) and Global Depository Receipts (GDRs), an official statement said here today. According to the World Investment Report 2002 of the United Nations Conference on Trade and Development (UNCTAD), India registered a 47 per cent growth in FDI inflows while the global inflows had declined by over 50 per cent in 2001.
UNI |
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SC debars Sanchayani
Chandigarh, September 25 The SC has directed that the company will strictly comply with the order dated May 10, 1997 of the RBI, and further directed that the status quo, which had been ordered by it on September 18, 2000, should be maintained.
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Union Bank Bank of Punjab CBDT meeting Hero Mindmine Pitney Bowes
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