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| Tuesday, December 19, 2000, Chandigarh, India   
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Oil prices
likely to be reduced: Sinha Some MBAs
are more equal than others High court
fines HSIDC Rs 5 lakh PPCB, CII
set up environment club |
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| HP
to privatise govt hotels SHIMLA, Dec 18 — In its first step towards involving the private sector in building the tourism infrastructure in Himachal Pradesh, the state government has offered 10 sites in various parts of the state for the purpose. Old economy stocks
bounce back TRAI for unlimited
competition in PMRTS USA’s
green signal for Glaxo merger
Who will
foot hotel bill? Coming to
Patiala, lands in jail
Computer top gun
relishes a fight
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Oil prices likely to be reduced: Sinha NEW DELHI, Dec 18 (UNI) — Finance Minister Yashwant Sinha today said the government may consider reducing the domestic oil prices if the global oil prices fall in the near future leading to wiping of the oil pool account (OPA) deficit. Speaking at the meeting of the Consultative Committee attached to the Finance Ministry, Mr Sinha said rising petroleum prices have led to an OPA deficit of Rs 24,000 crore this year. The recent domestic petroleum prices hike would reduce the deficit by about Rs 7,000 to Rs 8000 crore while the duty cut on petroleum imports would reduce it further by Rs 4000 crore, he said. The remaining Rs12,000 crore would continue as OPA deficit, he added. The meeting was intended to invite suggestions for the coming budget from the members of the committee. Mr Sinha said the government wants to carry forward the economic reforms programme through general
consensus among all political parties and reiterated that the ultimate target of the reform process is to eradicate and bring benefits of globalisation to the underprivileged. Taking stock of the country’s fiscal situation, Mr Sinha said the current year has been a rather difficult one on account of two unforseen factors, namely sharp increase in global oil prices and severe drought conditions in some states. Regarding the economic reforms programme, Mr Sinha reiterated the government’s resolve to carry the reforms forward through consensus. “It has to be ensured that the poor get the benefit from economic reforms,” he said. Mr Sinha said the economic reforms process was a much broader concept than mere increase in Foreign Direct Investment (FDI) and globalisation and calls for administrative, judicial and legislative changes as well. The Finance Minister emphasised that the participation of states was crucial for the success of second generation reforms and expressed satisfaction over the states cooperation in bringing about recent reforms in sales tax. He said despite of these developments on the fiscal front, the situation was better than previous two years. “The impact of the Fifth Pay Commission is receding”. This year, despite some slowdown in manufacturing, we would be on target for direct taxes and close to the target for excise duty collections. “There may be some shortfall on the customs front. We are also keeping a strict watch on expenditure. I hope that this year, we will be very close to the fiscal deficit target,” he said. Expressing concern over the severe drought in several states like Orissa, Madhya Pradesh, Rajasthan, Gujarat and Chhatisgarh, the minister said that whereas agricultural production has been badly affected in drought hit states, there is problem of plenty in some other states. He called for steps to avoid the cycle of shortage and plenty. The Consultative Committee members who gave budget related suggestions included Mr B. Panda, Mr Dilip Kumar H. Gandhi, Mr K.K. Birla, Mr Rajeev Shukla, Mr Ravi Shankar Prasad, Mr Santosh Bagrodia Dr (Mrs) V. Saroja and Mr Vijay Kumar Khandelwal, all members of Parliament. The committee is scheduled to meet again in Januray 2001 for another round of discussions on the subject. |
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Some MBAs are more equal than others The
MBA has been a victim of its own success. The classic MBA, which stems from 50s America, became the elite master’s qualification — only to suffer humiliating doubts about its validity because too many graduates pursued an MBA and the sheer numbers began to dilute its exclusivity. Showing admirable resilience, the MBA has bounced back. In today’s dot.com world of innovation, the qualification is ironically becoming even more relevant as managers increasingly recognise they need a broader base of skills if they are to add real value to their businesses. An MBA may no longer be a short cut to instant career success, but it is still the world’s most popular business qualification — and suppliers have been quick to respond to the managerial demand. Today, around 800 business schools and other institutions in the USA and Europe offer MBAs to an annual intake of more than 100,000. Although a wide variety of programmes fall under the MBA banner — including modular, consortium, specialist, company and distance-learning MBAs — the bulk of them are imitative, not innovative, in style. Most are housed within more traditional academic institutions and feature standard methods of delivering and assessing learning. This presents a challenge for today’s potential students, who have to shop around in the global MBA marketplace to find the programme that best suits their needs. Because programme styles are so similar, many students base their choice on a “beauty parade” of the top providers. Hence, all MBAs are equal, but some are more equal than others. There is an understandable temptation to opt for the relative safety of a recognised brand name. Providers who are unable to trade on reputation or who are offering “me-too” programmes will struggle to survive. Business schools have begun to respond to this threat. Many are actively striving to differentiate their programmes and this seems to be an ongoing trend. The too-structured curriculum format is looking tired. In its place, a new model for MBA is developing. As organisations undergo constant change, individuals also need to go through a process of self-renewal, in terms of refining their existing skills, learning new skills and managing their careers. To be truly effective, an MBA programme has to assist the individual in this endeavour. Many MBAs focus on strategic thinking, technical expertise and the traditional skills of marketing and finance. New model MBAs cover these aspects, but also focus on “softer” skills, such as interpersonal sensitivity, which help to develop more rounded and effective managers. The concept of self-renewal hinges on the fact that it doesn’t matter how much experience you’ve got, there’s always more to learn - and the learning doesn’t stop after the course ends. That openness to learning is vital for potential participants of the new MBAs. With traditional MBAs, participants don’t get the opportunity to have an input on the design of the course. The new model shifts the emphasis from the assumed interests of the group to the specific needs of the individual. “Differentiate or die” has long been a rallying cry on many traditional MBAs. Now, providers must learn that lesson. The fight is on for providers to offer students an MBA relevant to their organisation, to their day-to-day work and to their future development — one that incorporates sound theory which they can use in practice.
— By arrangement with The Guardian |
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High court fines HSIDC Rs 5 lakh NEW DELHI, Dec 18 (PTI) — The Delhi High Court today imposed a fine of Rs 5 lakh on the Haryana State Industrial Development Corporation (HSIDC) for causing pollution in Delhi by allowing discharge of industrial waste by hundreds of units from Udyog Vihar complex in Gurgaon. Rejecting HSIDC’s contention that a central effluent treatment plant (CETP) has been commissioned in the complex on December 14, a Division Bench comprising Justice Anil Dev Singh and Justice O P Dwivedi said the Corporation must pay the fine for the pollution caused in the past. The court also directed HSIDC to issue notices to all the industrial units to set up their own effluent treatment plants (ETPs) while giving freedom to the Corporation to cancel their licences if they failed to comply with the directives. While asking the Central Pollution Control Board (CPCB) to inspect the CETP, commissioned recently, the HSIDC was also directed to submit a complete list of industrial units in the complex by February 14. HSIDC counsel during the previous hearing had said the complex had about 2,000 industrial units. The direction came on a petition by — Gramm Uthan Samiti, an organisation of Brijwasan village in the outskirts of Delhi, which said that the effluent flowed in through a flood drain that had taken a shape of a huge pond near their village. Samiti’s counsel Raj Panjwani said the industrial waste collected in the pond, had polluted entire water resources in the area, threatening the lives of people and livestock. |
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PPCB, CII set up
environment club CHANDIGARH, Dec 18 — The Punjab Pollution Control Board and the CII have set up an “Environ-mental Excellence Club” in Punjab. Industries holding valid consent under the Water and Air Acts and authorisation under the Hazardous Waste (Management & Handling) Rules which have never been prosecuted for violating any pollution control laws can become its members. The club membership has been graded under three categories — Silver, Gold and Platinum. Speaking at a session organised by the CII here today, Mr A.K. Mahajan, Chairman, Punjab Pollution Control Board, invited the industry in Punjab to log on to the board’s website which will act as a facilitator to promote the Environmental Excellence Club and also a self-monitoring scheme. The board’s website from January 1 onwards will also contain information on consents and No Objection certificates (NOCs) that are being accorded to industry from time to time. Mr S.P. Oswal, Chairman, CII Punjab State Council, asked industry not to shy away from its social responsibility and furnish quarterly information to the board. He said that board must have a panel of good laboratories all over the State so that industries can get their samples analysed for getting reliable results. Mr D.K. Dua, Member Secretary, PPCB, Mr Birinderjit Singh, Senior Environmental Engineer, PPCB, and
over 50 representatives from industry in Punjab were present at the session. |
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HP to privatise govt hotels SHIMLA, Dec 18 — In its first step towards involving the private sector in building the tourism infrastructure in Himachal Pradesh, the state government has offered 10 sites in various parts of the state for the purpose. Offers have been sought from private entrepreneurs for constructing hotel complexes, resorts, amusement parks and art and craft villages. Faced with shortage of funds, the state government has already made it clear that instead of sinking more money in the tourism-related projects, it will invite private investment. The HP Tourism Development Corporation is in the red as most of its hotels and restaurants are running in a loss. The earlier experiment of handing over some properties of the HPTDC to private parties was not encouraging and these had to be taken back. There were indications that the government might take steps to privatise certain hotels of the HPTDC. Under its new initiative of involving the private sector in promotion of tourism, a hotel complex at Bilaspur, lake resorts at Parihar in Chamba and the Chamera Dam have been offered. In a bid to give a further boost to tourism at Andretta in Kangra district, which is popular because of the art of Sobha Singh, offers have been invited for constructing an art and craft village and a theme park. An amusement park has been proposed at Mattaur and water sports and health facilities at Chakki in Kangra. Offers have been sought for a Tourist Resort, amusement park and health club in the Suketi fossil park near Nahan. The fossil park has fallen from grace over the years because of poor maintenance and lack of infrastructure. The restaurant opened by the HPTDC there has been closed for the past few years. Offers have been sought for setting up a resort at Jhatingri in Mandi district which is the base for several mountainous treks. Offers have also been invited for creating wayside amenities and hotel complexes in Hamirpur district at Sujanpur and
Nadaun.
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Old economy stocks bounce back SHRUGGING off initial hesitancy in the light of continuous downslide in the Nasdaq that dropped further by 67 points last weekend, speculators enlarged commitments on strong hopes that the burgeoning oil pool deficit could be controlled once India concludes a deal, which reportedly is part of an oil-for-wheat programme. Besides, reports that India might buy oil from Iraq at a bargain price of $ 7 a barrel, speculators were optimistic on a statement by Finance Minister Yashwant Sinha that the next Budget would be forward-looking growth-oriented and investor-friendly. While operators were heavy buyers in cyclicals, including side stocks, financial institutions extended support to select IT counters after the mid-session. The downtrend in heavy-weight counters like Infosys Tech and MTNL that showed losses were the main factor to minimise the sensex gains. Cement scrips remained in the forefront on interested buying while pharma shares displayed a mixed trend on alternate bouts of buying and selling. Dabur India is likely to set up a separate company soon for the proposed insurance foray, which would be directly owned by the Dabur promoters, the Burman family. The Rs 1,000 crore Dabur India, which called off its foray into the life insurance sector after its American joint venture partner Allstate pulled out earlier this year, has decided against a direct entry into the business since insurance is seen as a non-core” area for the healthcare major. Geojit
Securities has decided to issue bonus shares, including to its 400 odd
staff. An extraordinary general body meeting of its shareholders has
been convened on January 24 for seeking approval of the issue of bonus
shares. — Agencies |
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TRAI for unlimited competition in PMRTS NEW DELHI, Dec 18 (PTI) —The Telecom Regulatory Authority of India (TRAI) today recommended unlimited competition, and no separate entry fee for issuing fresh licences for public mobile radio trunking services (PMRTS). In its recommendations submitted to the government today, TRAI also said that service areas in metropolitan cities — Delhi, Mumbai, Chennai and Calcutta — should be enlarged to include urban agglomeration of the cities or 50 km radius from the main base station whichever is greater, according to a TRAI release. For other cities, the service area of PMRTS providers should extend to the municipal limits of the city plus a distance of 10 km beyond the limit, it said, adding that new types of service areas may also be defined along the highways. The regulator also recommended unlimited competition for the new operators and said that market forces should determine the number of operators.
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USA’s green signal for Glaxo merger LONDON, Dec 18 — Glaxo
Welcome today announced its merger with SmithKline Beecham to create GlaxoSmithKline had been cleared by the US Federal Trade Commission (FTC). It said that with the US consent, which carried with it no further material divestitures, the companies had obtained all regulatory clearance to complete the long-delayed merger on December 27. The two companies announced plans to link up back in January and originally planned to complete the merger in August, but it was twice delayed by intensive probes by the FTC, worried about the new company’s clout in a consolidating industry. Under pressure from the FTC, the two companies agreed in the summer to divest SmithKline’s antiviral medicines Famvir and Vectavir, along with Kytril for treating chemotherapy-induced nausea. Glaxo said the consent decree contained no provisions regarding products for helping people stop smoking — the FTC has expressed concerns about the new company’s dominance in the area — but it had indicated it would continue its review after the merger was completed.
— Reuters |
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Who will foot hotel bill? RANCHI: They came, they ate and they failed to pick up the tab. The management of the state-owned Hotel Ashok here is wondering what to do with the bills worth thousands run up by former Bihar Chief Minister Laloo Prasad Yadav and several ministers of the newly formed state of Jharkhand, of which Ranchi is the capital. Laloo Prasad Yadav had come to Ranchi on November 13 in a bid to form a non-National Democratic Alliance (NDA) government in the new state. He returned to Patna after three days as his efforts failed and a Babulal Marandi-led NDA government was sworn in. During his short stay in the hotel run by the Indian Tourism Development Corporation (ITDC), he ran up a bill of more than Rs 50,000. He also received an endless stream of visitors, who ate costly dishes worth Rs 27,300, according to the hotel authorities. When Laloo Prasad Yadav checked out, he told the hotel that the Jharkhand unit of his party would foot the bill. But that has not yet happened. The state government had asked the hotel to make arrangements for the ministers’ accommodation because their official houses were yet to be furnished or allotted. The government had made it clear that it would only pay the room rent, with the money for the food coming from the ministers’ own pockets. But the ministers have not paid up. The ministers have been occupying 12 double rooms since November 16. The room rent alone has crossed the Rs 1 million mark. The food bills have been sent to Jharkhand Cabinet Secretary Narendra Bhagat. “The bills have been forwarded to the minister concerned,” Bhagat was quoted as saying in the local media. ITDC is cautious when dealing with ministers. Chandrashekhar Dube, a Bihar minister, had forcibly occupied four rooms of the Ashoka Hotel in Patna for a long time. When the hotel management lodged a complaint against him, Dube had taken serious exception. The hotel is yet to get the money owed to it.
— IANS Coming to Patiala,
lands in jail NEW YORK:
When Indo-Canadian Deepak Mangat boarded an Aeroflot flight at New York’s John F. Kennedy Airport to attend a cousin’s wedding in Patiala, (India), he was looking forward to a good time with his family and friends in that country. Instead the 27-year-old Toronto-based software engineer landed in a Moscow jail earlier this month, charged with making false threats that he had a bomb in his suitcase. His harried family members in New Jersey found out about the arrest three days later. “When my relatives in India told me that my brother has not reached there, although the Aeroflot flight number 330 reached as scheduled on December 7, we got alarmed,” Deepak’s brother Joe Mangat of Trenton, New Jersey told IANS. He said he had called the Aeroflot office here, but could not get any information about his brother. “Ultimately, I found out the telephone numbers for Moscow airport and after calling the airport, I found out that my brother had been arrested for making false threats.” He wrote to the Canadian Embassy in Moscow seeking the release of his brother, claiming that he was an honest and law-abiding Canadian citizen and would never threaten anyone. Russian officials said Deepak Mangat was arrested at Sheremetovo airport outside Moscow for giving false information about explosives lying in the aircraft. The investigator in the case, who identified himself only as Balandin, told IANS over the phone from a detention centre outside Moscow that a case had been filed against Mangat under Article 207 of the Russian Penal Code. He declined to give further details. Sources in Moscow said Mangat, probably irritated by his tedious journey, angrily told airport personnel “Yes! check, there is a bomb in my suitcase.” This was interpreted as a misleading declaration and taken very seriously by the Russian authorities, the sources added.
— IANS
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Computer top gun relishes a fight MARK JARVIS treats rivals like targets in a shooting gallery. As chief marketing officer at US-database software company Oracle he aims to make sure that companies encroaching on his turf are history. His only weapon is a marketing strategy that identifies the strengths of his operation and the weakness of others. “We like to compete very aggressively,” says the Yorkshireman turned California resident. “I like to pick on a competitor and keep picking on them until they aren’t important anymore.” He thinks about work 24 hours a day because he wants nothing more than to beat the competition. “You have to have a suit of armour for this job - it’s not for the fainthearted. You need a will to win, being second is not acceptable.” Microsoft is the latest victim. Bill Gates and his team, marching towards world domination only a couple of years ago, have undergone a bruising battle with US regulators. Much of the information used against Mr Gates was allegedly supplied by Oracle. Other less well known names like Peoplesoft, Sybase, Informix and Ingres, once threatening rivals, now register as just tiny blips on Oracle’s radar screen. Mr Jarvis is a graduate of Leeds University who left for Holland the day after bagging his degree in computer science. “I saw a telly programme called Dutch Girls and thought the place was very interesting,” he says, emphasising it was the culture rather than the girls that were uppermost in his mind. The son of an oilman, he spent much of his childhood jetting between boarding school in Britain and his father’s latest base. The lifestyle prepared him for travel and living abroad. “It gave me a globe-trotting background. I don’t think university taught me anything important about life.” He worked first for the electronics firm Philips. “It was trying to build and sell computers and I was employed to maintain them, for five years. I moved on and became the 12th Oracle employee in Holland.” “I’m a Jekyll and Hyde character. I am an extrovert on a stage but my private life is reclusive. It means I can get away from Silicon Valley - a very tough place to work with a great burn-out rate.” The company saw his drive and put him in charge of marketing, despite the fact that he had never attended a marketing course and still hasn’t. “I was a terrible programmer,” he admits. “I’m a better marketer, so I switched over.” His big break came a year later when he gave a presentation to Oracle’s billionaire founder and chairman Larry Ellison. “In 1994, when the Internet was just taking off, I presented to Larry about the importance of connecting to websites. He now credits me with being the marketing man who spotted the importance of the internet.” The focus of Mr Jarvis’ life ever since has been the Net, how the company can conduct its business in cyberspace and allow its clients to do the same. Net companies need databases to store customer information and manipulate it. “One of our lowest lows was winning the world’s worst website award. Customers hated our website because each country had its own and they were all different. I have merged all the sites into one global site, which transformed the way we did business.” He is a millionaire many times over, which he says will allow him to get out of the rat-race early. “The thing I hate most is going round the world and just seeing the airport, the hotel and the Oracle office. I never really see any of the places I go to. But working this hard will mean that I can retire early and enjoy the places I visit.”
— By arrangement with The Guardian
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