B U S I N E S S | Monday, September 14, 1998 |
|
weather n
spotlight today's calendar |
Sukhbir targets Rs 22,000
crore investment |
Dalmia seeks claim |
FM,
CMs meet tomorrow MTNL
upbeat over Trais new tariff India,
EU to discuss anti-dumping duty |
|||||||||
Sukhbir targets Rs 22,000 crore
investment NEW DELHI, Sept 13 The Union Minister of State for Industry, Mr Sukhbir Singh Badal, is seeking to create a record of sorts by getting investments totalling Rs 22,000 crore for his home state, Punjab. A massive thrust in agro industry and food processing, creation of a software park in Mohali, luring big industrial houses to set up units and have tie-ups with the ITIs in the State is the new mantra of the young Minister to stir up economic activity and industrialisation in Punjab. His penchant with the development of Punjab even while attending to the national issue of divestment in Public Sector Enterprises and the reorganisation of their administrative machinery as a Central Minister has already started showing results. Big industry names like ICI, Hindustan Petroleum Corporation Ltd, Hyundai, Bharat Heavy Electricals Ltd, Gujarat Ambuja, Mahindra and Mahindra and Apollo Group have already indicated their desire to set up shop in Punjab. The development strategy, according to Mr Badal, involves a shift in the pattern of agriculture in the State. Punjab, which accounts for only 1.5 per cent of Indias land under agriculture, produces 70 per cent of the total wheat in the country and 60 per cent of rice. Mr Badal would like the farmers in the state to shift to production of fruits and vegetables which has got a good export potential. He feels that Punjab with its excellent irrigation system, soil and agro-climatic conditions and hard working farmers is predestined and suited for growing most of the horticultural crops. Broccoli, Cauliflower, Baby-corn, Okra, Capsicum, Pearl Onions, Gherkins, Snow Peas, French Beans, Spinach and Lettuce are some of the products which have been identified for exports in either fresh, frozen or in bottled form. On its part, the state government is encouraging creation of an adequate infrastructure for export of processed foods including setting up of cold stores. The Government is encouraging and actively promoting the processing facilities like packaging, canning and bottling, freezing and dehydration to attain value-addition for the States produce. Apart from having the advantage of being closer to Delhi and Jaipur, which are big markets for fresh vegetables and fruits, export of vegetables by air to Europe through dedicated chartered flights from Amritsar is also being explored. Mr Badal feels the first flight could become a possibility by the end of next year. Information dissemination is another area where the Government is focussing. Prices of various markets in the country for horticultural produce would be made available to the farmers to help them choose the right selling point. Likewise the export prices of the various markets would also be published and made available on fax and phone. The Punjab Government has already created a corpus fund of Rs 25 crore which it would contribute as equity to create infrastructure like cold stores and processing facilities. Availability of adequate power for industrialisation of the state is also being ensured. According to Mr Badal, the State would soon have surplus in power generation. While the total requirement of power in the state is estimated to be around 4000 mw, Punjab produces 3100 mw of power. However, in the proposed projects, the Thein Dam unit would generate 600 mw, the Lehra Mohabbat unit at Bhatinda 500 mw, Goindwal Sahib project 500 mw and the by-product of the proposed Bhatinda oil refinery 1100 mw. This totals up to a production of 5800 mw which would enable Punjab to supply surplus power to other States connected with the Northern power grid. Though Punjab does not have too many natural resources, it has decided to harness water flowing in its canals. Companies in the private sector are being encouraged to set up mini hydel projects of 5 mw to 6 mw capacity near the numerous canals in the State.. The potential of mini hydel projects is estimated at around 300 mw. Mr Sukhbir Badal, would also be making available from the Centre Rs 600 crore for roads, Rs 200 crore for irrigation and canals and Rs 500 crore from HUDCO for better housing facilities. Mr Badal, who in his earlier interview with The Tribune had said that he wants to make Bathinda into another Ludhiana, is now speaking of making Mohali into another Bangalore or Hyderabad. An ambitious software park is being planned at Mohali which Mr Badal feels would make Punjab the software capital of India. A boost to technical education facilities in the state that would empower youths of Punjab to get employed is another area of focus for Mr Badal. He has talked to BHEL to set up an Industrial Welding Training Centre at Moga costing around Rs 8 crore. The Centre would generate jobs for 50 persons directly and enable training of 500 persons annually. A proposal is under consideration of BHEL to take over one of the ten existing ITIs in the State. Mr Badal has also convinced the Korean company, Hyundai, to get associated with another ITI. Punjabs Secretary for Technical Education is pursuing industrial houses to adopt the remaining ITIs in the state. An Urea plant of Punjab State Industrial Development Corporation is also coming up at Sangrur. Though away from the sea coast, the PSIDC is tapping the Bathinda-Kandla pipeline for availability of fuel. The Hindustan Insecticides Ltd (HIL) is also setting up a project at Faridkot and the Punjab Government has already made available 20 acres for the purpose. LANDAUs, a leading cheese manufacturer in the USA, is proposing to set up a cheese manufacturing plant in collaboration with PSIDC. The project, estimated to cost Rs 30 crore, would be commissioned within a year. To quote an admirer of Mr
Badal: Perhaps, in the last 50 years, no Central
Minister from Punjab has devoted so much time to the
development of the state as done by young and dynamic
Sukhbir Badal. |
Dalmia seeks claim for property in Pak NEW DELHI, Sept 13 (PTI) A company owned by Dalmia, which had its office in Lahore before partition has succeeded in getting show cause notice issued to the Centre from the Delhi High Court on a writ petition seeking compensation under rehabilitation agreement between India and Pakistan for financial commitments made by each other. Notice, returnable by December 14, was issued by Justice Anil Dev Singh this week on a plea by South Asia Industries Private Limited (SAIPL) seeking adequate compensation for its assets worth Rs 2.35 crore acquired by the Pakistani Government in 1942. SAIPL Counsel Malavika Rajkotia informed the court that Pakistani authorities, which had paid Rs 1 crore as part payment in 1946, had refused to pay the balance amount of Rs 1.35 crore after partition maintaining that the money could only be paid to the Custodian of Evacuee Property in Pakistan. SAIPL, which was an electric supply company in Pakistan, had shifted its office to Rohtak in Haryana in July 1947 and was declared as evacuee company by the Pakistani authorities, Rajkotia told the court. According to the international norms and understanding between India and Pakistan, the amount in respect of evacuee property was to be settled by both the countries with mutual agreement and the affected companies were to be paid adequate compensations accordingly, she said. SAIPL said the Indian
Government failed to evolve a policy on claim of
compensations by the evacuee companies even after 50
years of Independence and accused it of putting the
matter to back burner after it remained on the agenda for
talks with Pakistan at various fora including the
Indo-Pak joint commission for several years. |
Nafed to procure mustard NEW DELHI, Sept 13 (PTI) The government has entrusted the job of procuring mustard and rapeseed during ensuing rabi season to the National Agricultural Marketing Federation (Nafed) fearing that farmers might face marketing difficulties in the wake of widespread dropsy epidemic in Northern India. The Agriculture Ministry has also asked the state governments to ensure that the area coverage under rapeseed/mustard is not allowed to suffer as the epidemic has created uncertainties about the future prospects, pricing and marketing of this oilseed crop, the Ministry sources said. In a letter sent to the state governments, Additional Secretary of the Agriculture Ministry, J.N.L. Srivastava, has written that the remunerative minimum support price (MSP) for rabi oilseeds crops including rapeseed and mustard would be announced soon and Nafed will ensure marketing of the product at the support price. The note said that enough
quantity of certified mustard seed, free from the seeds
of Argemone and any other contamination, was
available with the National Seeds Corporation (NSC) and
Central State Farms Corporation (CSFC). |
FM, CMs meet tomorrow NEW DELHI, Sept 13 (PTI) The working of the non-banking finance companies in various states and the progress in the introduction of value added tax (VAT) would be among the main topics of discussions during the one-day meeting between Union Finance Minister Yashwant Sinha and state Chief Ministers being held here tomorrow, according to officials. Mr Sinha will hear the
views of the Chief Ministers on the role of state
governments in regulating non-banking finance companies
(NBFCs) and is expected to put forward concrete
suggestions on regulations of these institutions during
the meeting. |
MTNL upbeat over Trais new tariff NEW DELHI, Sept 13 (PTI) State-owned Mahanagar Telephone Nigam Ltd (MTNL) is upbeat over the new tariff structure recommended by Telecom Regulatory Authority of India (Trai) saying reduction in long distance call charges would give a boost to its business. It was a necessary thing to happen, for the first time in India cost-based tariff will be introduced and that too with a lot of flexibility, MTNL Chairman and Managing Director, S. Rajagopalan said. Long distance callers can generate tremendous amount of business for MTNL, which is fully equipped to handle increased traffic, consequent to reduction in charges, he said. On whether increase in rental and local call charges would affect MTNLs revenue, Rajagopalan said Trai has recommended a cap of Rs 620 as bi-monthly rent meaning that it may or may not fix the rent at Rs 620. He said the best thing in the new tariff proposals was the cap for the purpose of fixing rent or call charges, which provides ample flexibility to the service provider to offer services at market competitive rates. Trai in a consultation
paper on telecom pricing released last week, had proposed
to hike the rental upto a massive 140 per cent along with
increasing the local call charges and slashing the number
of free calls. |
India, EU to discuss anti-dumping duty NEW DELHI, Sept 13 (PTI) India and the European Union (EU) will hold consultations at the World Trade Organisation (WTO) in Geneva on September 17 and 18 over the controversial anti-dumping duty imposed by the European Commission (EC) on import of unbleached cotton grey fabrics (UCF) from India. The consultations are being held after India moved the WTO against an EC decision to impose definitive anti-dumping duty on UCF imports from New Delhi and four other countries, including Pakistan and China, in July. Commerce Ministry sources said India would point out various errors committed by the EC in arriving at a decision that UCF was being dumped into European countries. Methods of calculation, investigation process and sampling were all faulty, the sources contended. India moved the WTO against the duties after bilateral talks with the EU on the issue failed to yield results. The EC recommended on July 28 to make definitive from October 10 the provisional anti-dumping duty imposed on UCF imports from India, Pakistan, China, Indonesia and Egypt. Turkey has, however, been let off after provisional duties were imposed on imports from Ankara. EC reimposed an average 15 per cent provisional anti-dumping duty on the UCF imports from India in April. Indias decision to drag EU to the WTO followed ECs decision to make the provisional anti-dumping duty definitive from October 1. As per WTO procedure, the WTO director general is requested to use his office to conciliate and mediate between two warring parties if bilateral efforts fail. If consultations do not produce any results within 60 days, India can request WTOs dispute settlement body (DSB) to establish a panel to examine its complaint. The panel is expected to give its recommendations in six to nine months once it is set up. The first anti-dumping proceeding against UCF imports was dropped in February, 1996, after the complaining party, Eurocotton, withdrew its complaint. The second proceeding was terminated in May after the EU failed to ratify the definitive duty slapped in March 1997. Any proposal to make
anti-dumping duty definitive will have to be ratified by
a simple majority by the 15-member EU council of
ministers. |
H |
| Nation
| Punjab | Haryana | Himachal Pradesh | Jammu & Kashmir | | Chandigarh | Editorial | Stocks | Sport | | Mailbag | Spotlight | World | 50 years of Independence | Weather | | Search | Subscribe | Archive | Suggestion | Home | E-mail | |