 |
Sunday,
August 26, 2001, Chandigarh, India  
|
‘Only business can improve Indo-Pak ties’
Haryana to woo foreign investors
ED seeks details about Ranbaxy’s subsidiary
PSB cannot be termed as weak bank: CMD On-arrival visas to benefit
aviation Fixed WLL phone
is now available Agriculture policy for
Uttaranchal okayed |
|
|||||||||||||||||||||||||||
|
Turnover tax for small retailers in
Haryana Ess Ess Group launches two new ranges Sheela Group to set up
2 new plants
Amausi needs upgradation
Quit
notice
|
|
‘Only business can improve Indo-Pak ties’ Chandigarh, August 25 “It is business only which can improve the relations between India and Pak and the industrialists in both the nations are keen on it”, said Mr Chandrajeet Bannerji, Regional Director, CII, North. He said that the fears of Indian goods swamping the Pakistan market in case they grant us MFN status are unfounded. The issue of MFN status has been the critical point between the two countries. While India has already granted MFN status to Pakistan , the latter however, has not reciprocated the gesture. Reasons being political as well as economic. Pakistan, say the exporters here, fears that MFN status to India might result in Indian goods flooding the Pakistan market and their domestic goods will be replaced by the Indian goods. Demand for Indian goods, is already very high there and many of them are being sold in black to cater to the demand. In a meeting with the Indian industrialists (before Indo-Pak summit), the Pak industry representatives said that their country realised the need of exchange of expertise and legislation on the issues of WTO and anti-dumping, being experience by both the countries at the international level. “We know that the formal onset of WTO is round the corner and as a signatory to the Uruguay Round, we will have to open up our markets to all the other signatories. We would also be required to accord Most Favoured Nation status to the signatory states”, an office bearer of the Pakistan Chambers of Commerce had stated in a meeting few months back. Bilateral trade scenario between the two countries estimated to be around Rs 1,000 crore which forms less than one per cent of the global trade. However, unofficial trade between the two countries far exceeds the official figures. India’s official trade with Pak is about Rs 700 crore forming 0.25 per cent of our total exports whereas Pakistan’s exports to India which are less than 300 crore forms 0.14 per cent of our total imports. Traders here say that initiative from governments of both the countries is required to boost the trade. At present, Pak allows a list of around 600 items to be imported from India. “An immediate expansion of the list of 606 items items that can be exported from India is required”, states the CII . “Apart from increasing the number of items that are allowed to be traded, there is pertinent need to undertake measures for technical co-operation between the two countries”, says CII. However, both the countries need to separate political issues from trade and positive results can be obtained only in presence of proper communication. Meanwhile, a positive indication on lifting the ban on import of textile machinery from India and Pakistans interest in extending co-operation towards IT sector has been appreciated by the industrialists here.
|
|
Haryana to woo foreign investors Gurgaon, August 25 He further announced that Mr Chautala will lead a high powered business delegation in collaboration with the CII to France, Italy, Belgium, Netherlands and England to invite foreign investors in Haryana. The tour of the
delegation will commence from October 1, he said. Addressing exporters’ meet held last evening by the Industrial Assistance Group of Haryana’s Industries Department and the Gurgaon Chamber of Commerce and Industry (GCCI), Mr Quraishi said that a technology park will be set up in the Industrial Model Township (IMT), Manesar, by the state in collaboration with Singapore. Also, food parks will be set up in Gurgaon. Mr Quraishi, who was the chief guest on the occasion, said that the state was on way to setting up a medi-city in Gurgaon. The state was in favour of super speciality hospitals, rather than the multi-super speciality ones. The proposed medi-city will be the first of its kinds in the world. According to him, the government was committed to take measures to further give a boost to the promotion of growth of export from the state. Giving details he said that presently more than 450 units from the state were exporting their products to 70 countries. He expressed the hope that more firms would venture into exports and to more number of countries. He said that the state’s new Industrial policy has many concessions for the industry and was demonstrative of the government’s proactive
approach towards industrialisation of the state. Among others who took part in the meet were Commissioner and Secretary, Department of Industry, Haryana, Mr S.C. Chaudhary, MD, HSIDC, Dr Harbaksh Singh, the Advisor on Foreign Investment Government of Haryana, Mr Prem Singh, Mr P.K. Jain GCCI founding president and Mr Sunil Agarwal present president, GCCI.
|
|
ED seeks details about Ranbaxy’s subsidiary New Delhi, August 25 Replying to a question raised in Parliament about the company’s reported financial irregularities, Minister of State for Finance Gingee Ramachandran said, “Enforcement Directorate had called for details from the relevant financial institutions and brokers.” Ranbaxy maintained that it had not received any communication from the Enforcement Directorate in regard to Ranbaxy UK Ltd, its wholly-owned subsidiary. Admitting certain discrepancies in Ranbaxy UK’s sale and Distribution operations, the company clarified in a statement that these irregularities were confined to transactions pertaining to UK operations alone. “The irregularities in Ranbaxy UK were confined to transactions pertaining to UK operations alone and such transactions are not connected with Ranbaxy Labs in any way whatsoever,” the company said here. Maintaining that its UK subsidiary continued to be a profit making company, Ranbaxy said the regional management in UK had investigated the matter and taken effective steps and recovered practically the entire amount involved. The company also changed the top brass at UK early this year as apart of its damage control measures. Ranbaxy UK reported a decline of 50 per cent in its net profit in the last
financial year which dipped from $ 0.4 million to $ 0.2 million. PTI |
|
PSB cannot be termed as weak bank: CMD New Delhi, August 25 This was stated by Mr Gujral during his meeting with Union Finance Secretary Mr Ajit Kumar last evening. Mr Gujral said going by the inherent strength of the bank, PSB cannot be termed as a weak bank. The bank was, however, advised to closely monitor its NPAs and ensure that these are brought within a resonable level in the current financial year without allowing for further slippage. The bank was also asked to submit projections for the next three years in key areas of its performance and submit quarterly progress report to the ministry for its perusal on regular intervals. The head of the bank in a release said it has been making profits for the last five years and has been maintaining capital adequacy ratio more than stipulated percentage. In the coming time, he said the bank would focus on the recovery of non-performance advances and on reduction of the percentage of et NPAs to net advances, improving yield on advances and investments, and increasing non-interest incomes, besides reducing cost of deposits, to a large extent.
|
|
On-arrival visas to benefit
aviation Chandigarh, August 25 The move is expected to give the much needed boost to tourism which in turn will give a filip to aviation industry. “Airlines are now the second most popular mode of tourist transport, after automobiles, especially for international travel”, points out Dr Gulshan Sharma, Director of the Chandigarh-based Institute of Tourism and Future Management Trends (ITFT). Already, 80 per cent of air travel worldwide are classified as tourism related. And as the world shrinks, globalisation takes place, travel by air becomes a matter of routine which all can afford, he points out in a talk with TNS. International Civil Aviation Organisation (ICAO) has estimated that in the next fifteen years, US $ 350 billion would be spent on new airport infrastructure to meet the anticipated traffic demands. Airports directly generate US $ 420 billion in economic activity and employ 4 million people worldwide. According to another estimate, air traffic is set to increase from 1.2 billion in the early 90s to 2.8 billion in 2010, and the Asia Pacific region is projected to record the highest growth rate of 80 per cent by 2010. The active passenger fleet will also nearly double. It will grow from 10,000 passenger jets at end 1999 to 19,106 at end 2018; an increase of about 9,100 aircraft. Seat capacity will increase from 1.8 million to 4.2 million while cargo capacity will increase from 64,000 tonnes to 180, 000 tonnes. Airports being nuclei of economic activity assume a significant role in the national economy. The quality of airport infrastructure, which is a vital component of the overall transportation network, contributes directly to a country’s international competitiveness and the flow of foreign investment. 97 per cent of the country’s foreign tourists arrive by air and tourism is the second largest foreign exchange earner. Projections made by the Airports Authority of India indicate that by 2016-2017, 523.16 lakh domestic and 329.88 international passengers would be travelling by air. There are 449 airports/ airstrips in the country. Among these, the AAI owns and manages 92 airports and 28 civil enclaves at defence airfields and provides air traffic services over the entire Indian airspace and adjoining areas. In 1998 -99, these 120 airports/civil enclaves handled 369.89 lakh passengers, and 6.9 lakh tonnes of cargo . In a bid to enhance efficiency, decongest airports and also to improve the aircraft turnaround time the Airports Authority of India (AAI) has allowed Interglobe, Bhadra International, GlobeGround, Apron Services Pvt Ltd, and Worldwide Fleet Services to take up ground handling at the airports in Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad and Goa. With this move, the five new players have entered the 600-crore ground handling market in India in addition to Cambata Aviation, Indian Airlines and Air India. Privatisation of the ground handling services at major international airports has opened vast array of jobs. There are various types of job opportunities in the aviation and airlines industry. At the airport, the professionals required are generally electronics and telecommunication engineers (for ATC and communication disciplines) civil and electrical engineers (for construction and maintenance) financial, HRD and marketing and cargo personnel. Career opportunities are in the field of airhostesses, flighty stewards and other supporting staff who are generally referred to as cabin crew. They include flight attendant trainees and senior flight attendants, bilingual flight attendants and others. A random survey reveals that airlines prefer to recruit staff from this part of the country. In this regard, Chandigarh, Ludhiana, Jalandhar, Patiala, Amritsar, Dehra Dun, Yamuna Nagar and Shimla have emerged as the potential cities for providing youth the jobs in all the non-technical service areas. |
|
|
Fixed WLL phone
is now available Amritsar, August 25 The tariff such as registration amount, security deposit, installation charges, rental pulses for local, STD and ISD calls etc for fixed telephone will be same as a regular wired line connection. This was informed by Rakesh Kapoor, ITS, GMT/D in a press release here today |
|
|
Agriculture policy for
Uttaranchal okayed Dehru Dun, August 25 Briefing the media persons after the State Cabinet meeting here, yesterday, Mr Madhukar Gupta, Chief-Secretary of Uttaranchal said that the agriculture policy prepared by a committee of experts under the Chairmanship of Dr JB Chaudhary, Vice Chancellor, Agriculture University, Pantnagar was approved by the cabinet today. He said that the target for growth in the agriculture sector has been fixed at 5.1 per cent. The state government will also work out the facilities of farm insurance and providing loans to the farmers. Efforts will also be made to maintain the quality of soil by adopting modern technology, minimise the risk of soil erosion by landslides and to compete with the standards of international market in food products. The Uttaranchal Government will also invite private sector for investment in the agriculture sector under contractual or co-operative farming. A separate policy will be adopted to establish sugar industries in the state keeping in view of the sugar-cane growers in the terai belt. |
|
|
Turnover tax for small retailers in
Haryana Chandigarh, August 25 Meanwhile, the state government, sources here said, is making preparations for introduction of VAT in Haryana which will replace sales tax. Senior officials of the Prohibition, Excise and Taxation Department (PETD) toured Ambala, Panipat, Rohtak and Hisar last month and interacted with the representatives of trade and industry regarding various aspects of VAT. PETD officials are slated to visit Gurgaon and Faridabad on August 26 and 27, respectively, and highlight the positive aspects of VAT to trade and industry representatives. The concerned officials are also working on drafting the appropriate legislation for introducing the new tax in the state. If a press statement by the Ambala Cantt Traders Federation (ACTF) is any indication, the traders as well as the entrepreneurs are apprehensive about VAT. The ACTF accused the government of keeping majority of the members of trade and industry in dark about the various rules of the new taxation system. It also added that small traders would not be able to maintain the accounts for payment of VAT. However, official sources here said that the state government was trying to simplify the accounting for VAT. For small traders, certificate by a chartered accountant would suffice for their settling the tax liabilities, the sources said. Describing some of the positive aspects of VAT, the sources said under VAT system there would be only two main rates of tax in stead of eight different rates of sales tax existing in the country at present. Moreover, as there would be only two main rates of tax, disputes relating to classification of goods, a main source of litigation now, would disappear. |
|
|
Ess Ess Group launches two new ranges Chandigarh, August 25 The company today launched two new ranges — Tarim and Vega. Tarim is a range which has the world’s latest design and Vega range has 13 exquisite finishers. The company is also recognised in overseas markets. It is exporting to the countries like UK, Middle East and Mauritius and exploring new markets in Australia, SE Asia, Europe and USA. |
|
|
Sheela Group to set up
2 new plants Chandigarh, August, 25 Mr Chahar was here in connection with the company’s dealers (Punjab, Himachal Pradesh and Chandigarh) meet at Kalka . Sheela Group holds 45 per cent market share in PU foam and expects 20 -30 per cent growth per anum in this industry for the next ten years. The group registered turnover of Rs 225 crore for the financial year 2000-01 , which was 25 per cent more than the previous year. Of the total turnover, the share of Punjab and Haryana is more than 10 per cent . |
|
|
Birla Sun Life New Delhi, August 25 |
cr
Amausi needs upgradation Lucknow’s Amausi Airport, neglected for decades, has at long last got an urgent priority for modernisation and upgradation so that wide-bodies aircraft can operate. Amausi has been one of the premier airports which has produced many outstanding pilots. In 1950s, the pilots were trained by Hind Flying club, which was headed by Capt Tikkoo. He was an ideal instructor. Lucknow’s priority, it is said, has come about as Prime Minister Atal Behari Vajpayee travels often to his constituency. But Amausi Airport deserves immediate upgradation because it offers a sizable foreign travel since Kanpur, a great trade hub, is only about 50 kilometres from the airport. The Rs 50-crore project, in phases, will be completed before the end of 2003. The first phase is to enlarge aprons so that three AB-320 and two AB-300 can be accommodated. The work costing Rs 11.81 crore, should be over by before the year is out. The CAT-II Approach Lighting System will be installed so that aircraft can operate in bad weather. The runway is also being extended from 7245 feet to 9000 feet for the operation of wide-bodies aircraft. The airport is ideally situated as there is a sizable land vacant around to undertake expansion work without any hindrance. Owing to regular VIP movement to and out of Lucknow, the security at and around airport is being beefed up. The perimeter wall will be raised from 6 feet to 8.5 feet. According to Minister for Civil Aviation Sharad Yadav, Control Tower-cum-Technical area will be given a befitting face-lift. The project will cost Rs 5 crore and the work will commence in April next year. Direct flights Come October 27, United Airlines (UA) will operate direct flights to US from Mumbai and Chennai in addition to Delhi-Chicago flights. UA’s flights from Delhi have not yet become as popular, as the airline had predicted. The uncertainty in market persists. There is perhaps more capacity than required at present. But the UA authorities are optimistic that the picture will be rosy as winter sets in. The United Airlines has several other innovative plans to operate more nonstop flights to US as the traffic picks up. Currently, the UA has tie-up with Air India and Jet Airways. But it may soon have tie-up with the Indian Airlines to achieve better connectivity. According to passengers travelling on UA flights, the service on board the flights is good. But, maybe, the ‘menu’ will have to undergo changes so that it suits Indian passengers. Disinvestment The fate of disinvestment in Air India and Indian Airlines still remains unknown. There are as many opinions, turns and twists as politicians and bureaucrats connected with civil aviation. Prime Minister Atal Behari Vajpayee has gone on record as saying that there should be no delay in disinvestment in Air India. “The Prime Minister has instructed me to wait for only the finalisation of the share-holders agreement”, the Disinvestment Minister Arun Shourie told Rajya Sabha the other day. |
|||||
sti
by Praful R. Desai Quit notice Q: Was the intention of the landlord to terminate tenancy by the end of tenancy month only and not during the currency of month? Ans:
Andhra Pradesh H.C. in E. Chitra Ramacharandas v National Remote Sensing Agency (2001 (1) RCJ.607) expressed the view thus: Even assuming for the sake of argument that in view of S. 110 of the Transfer of Property Act, the monthly tenancy commences from 17th and ends with 16th of the following month, in the light of the principles laid down in several cases, it is not possible to agree with the view that the quit notice, whereby the defendant was called upon to vacate the premises by the midnight of 15-5-1980 is not in accordance with the provisions of S. 166 by the T.P. Act. On a proper interpretation of the notice, it must be held that the intention of the landlords was to terminate the tenancy by the end of the tenancy month only but not during the currency of the month. For the said reasons, the H.C. held that the Lower Court erred in its view that the quit notice was not valid. In view of this finding arrived at by the H.C., in the normal course, the H.C. would have been inclined to remit the matter back to the Lower Court for determination of the mesne profits or damages for use and occupation to which the plaintiffs will be entitled. However, the Lower Court, on consideration of the evidence on record came to the conclusion that the agreed rent at the rate of Rs 0.63 per sq. ft. which was already paid and received, was sufficient and proper and the plaintiffs have not made out any case for awarding damages for use and occupation over and above the same. Having regard to the fact that the defendant vacated the premises shortly after the filing of the suit and nearby two decades have already passed, the H.C. was not inclined to interfere with the said view taken by the Lower Court and remit the matter back at this distance of time. In this view of the matter the H.C. dismissed the appeal. |
bb
Quality centre Pizza parlours Pioneer ITI MF Corpn Bank |
 |
| Punjab | Haryana | Jammu & Kashmir | Himachal Pradesh | Regional Briefs | Nation | Editorial | | Business | Sport | World | Mailbag | In Spotlight | Chandigarh Tribune | Ludhiana Tribune 50 years of Independence | Tercentenary Celebrations | | 121 Years of Trust | Calendar | Weather | Archive | Subscribe | Suggestion | E-mail | |
