Musharraf’s new Kashmir formula
Favours gradual demilitarisation

Islamabad, October 26 In a new formulation to resolve the vexed Kashmir issue, President Pervez Musharraf last night suggested that India and Pakistan consider the option of identifying some “regions” of Kashmir on both sides of Line of Control, demilitarise them and grant them the status of independence or joint control or under UN mandate.

Pakistan President Pervez Musharraf speaks during a function in Islamabad on Monday night. — Reuters photo

  World page: Oppn condemns Pervez’s formula on Kashmir
  J&K page: Cong rejects proposal of Pervez Musharraf
  Nation page: Expect non-conventional threats, PM asks services
  Special article: NPT is of no use

Nothing new, says India
New Delhi, October 26
The Ministry of External Affairs today played down Pakistan President Pervez Musharraf’s sweeping proposal for resolution of the Kashmir issue saying discussions on the subject could not be held through the media and the correct forum for this was the Composite Dialogue process.

Bank rate, CRR kept unchanged
* New credit policy projects higher inflation

* GDP growth rate scaled down Mumbai, October 26 The Indian economy is likely to be in the grip of inflationary pressures in the coming months even as its growth slows down, according to projections issued by the Reserve Bank of India.
Dr Y. V. Reddy, Governor of the RBI, speaks during a meeting with bankers in Mumbai on Tuesday. — Reuters photo

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  Highlights
  Business page: RBI credit policy makes FM, India Inc happy
  Graphic: RBI's mid-term monetary measures

Maharashtra imbroglio continues
New Delhi, October 26
Although the Congress and the NCP appeared close to resolving the Maharashtra imbroglio throughout the day, the much-touted agreement failed to materialise by the end of the day.

Situation in Chathewala defused, auction put off Chathewala (Bathinda),  October 26

The volatile situation which had developed after thousands of farmers descended on this village to stop the auction of a piece of land of a local farmer, in lieu of payment of loan of commission agent on the order of civil court, was defused today when the same was postponed to January 20, 2005, by the Civil Judge.

Activists of The BKU (Ekta) block the road leading to Chathewala village in Bathinda on Tuesday to prevent the entry of government officials. — Photo by Sonu

12 killed in Manipur
Imphal, October 26
Twelve persons, including two Army jawans, were killed in encounters and militant strikes in Manipur since yesterday, official sources said today. The Kuki Students Union, however, dubbed one of the encounters as ‘fake’, alleging three innocent Kuki students were gunned down by police commandos at Hapta area last night and called a 24-hour general strike from midnight. — PTI