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Saturday,
June 22, 2002, Chandigarh, India  
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Minister wants more investment in J&K
India to emerge as hub of biotechnology: report
Power tariff hike to hit industry
Britons urged to invest in Haryana |
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PNB chairman asks SSI to diversify
Pay bonanza for Maruti MD
SBI awards trophies
Jalandhar-based cooperative society wins award
Spice launches dual number SIM card
Enzyme to improve fuel efficiency GRAPHIC:
PERFORMANCE OF
INFRASTRUCTURE INDUSTRIES
Reliance to begin drilling in July Silverline okays expansion plan Special margin on Garware Polyster
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Minister wants more investment in J&K Srinagar, June 21 In his welcome address at the inaugural function of exhibition-cum-business summit “Kashmir Vision 2020” organised with a view to exploring the real investment opportunities available in the state, he held that Jammu and Kashmir was endowed with skilled manpower and offered attractive investment opportunities in various sectors. Dr Kamaal said one million hectares of wasteland awaited development. Handicraft exports from the country was Rs 9,205 crore at present in which the share of Jammu and Kashmir was only 5 per cent, he observed, adding: “We hope to capture 20 per cent of total exports of handicrafts from the country by 2020”. He said the carpet industry required 6.50 lakh kg of silk yarn every year from which a raw material bank had been envisaged which would be a sound investment. The minister said fruit and nuts generated Rs 1,500 crore annually and it was envisaged to increase this production from the current level of one million tonnes to six million tonnes by 2020, with an investment of Rs 700 crore from private sector. Similarly, food-processing industry had a vast potential. About 20 per cent of total production could be converted to juices, jams, jellies, babyfoods, fruit bars and like canning of cherries, strawberry, apricot, peaches etc. Processing of walnuts were other potential areas which needed to be exploited, the minister added. He said tourism had already been declared an industry in the state and a host of incentives were available for interested entrepreneurs. A large number of people in tourism business benefited from heavy inflow of tourists in the state. Dr Kamaal said since independence, the state had made rapid advancement in the field of economic development. He emphasised on adopting new technologies and utilisation of vast human resources to make the revolutionary concept of “Naya Kashmir” presented by Sheikh Mohammad Abdullah a success.
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India to emerge as hub of biotechnology: report New Delhi, June 21 The report “Beyond Borders”, which was released today, said the growth would primarily result from the increasing R&D collaborations of Indian companies with foreign and comestic firms, government support, tax incentives, rising public interest, growing investment by strong, traditional companies and availability of significant foreign investment. The report said Indian expertise in the manufacture of generic pharmaceuticals had also provided a platform for the sunrise biotech industry. Worth $ 3 billion in 1997, the pharma industry is expected to rise to $ 9 billion by 2005. Further, India’s success in information technology, combined with its strengths and technology provide excellent opportunities in the field of bio-informatics. “Traditional IT companies are translating their capabilities in data mining and warehousing to business models based on biological data”, the report said, citing examples of IBM’s India Research Lab and Satyam’s five-year agreement with the Centre for cellular and molecular biology. According to the report, the global biotech industry is comprised of 4,284 companies ( 622 public and 3,622 private) in 25 nations. The public companies generated revenues of $ 35 billion, spent $ 16 billion in R&D and employed more than 1,88,000 people in 2001. There were more than 480 pharma-biotech collaborations and almost 550 biotech-biotech partnerships worldwide in 2001. The market is developing in India wth venture capital funds like ICICI Venture Capital and IL7FS Venture Capital’s joint venture with the US-based Invesco Private Capital, state-owned VC funds like in Andhra or the Department of Biotechnology and corporate venture funding, the report said. |
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Power tariff hike to hit industry Power tariff hike in Punjab is the most worrying issue for the industry in particular. Power rates in Punjab are already more than what these should be. Claims to the contrary notwithstanding, mismanagement has made the financial condition of the PSEB miserable. The growth of industry in Punjab had taken place on the basis of low cost of power and its easy availability. Both these advantages have vanished. Steel-making in particular and other power-intensive industry in general base their survival on relatively cheap power. The way things are going on in Punjab, most of the investment made on steel plants may go waste as steel from eastern part of the country is becoming cheaper due to obvious advantages of natural raw material and fuel. Power sector’s woes are due to two main factors. Free power to the agriculture sector and its gross misuse; and theft of power allegedly encouraged by the government and PSEB. When the Akali-BJP government came into power in 1997, the loss of PSEB was Rs 1,192 crore and it shot up to Rs 1,560 crore in 1998-99 and to Rs 1,939 crore in 1999-2000. The agriculture sector consumed 6,050 million units in 1997-98 and the consumption rose to 8,283 million units in 1999-2000. The PSEB had a special survey conducted to detect the theft of power. It divided the state into five zones. It found that brick kilns and other consumers in and around villages were misusing the free power. Even the farming community which was given the facility for irrigation, used power for various other purposes. Reports have indicated that some ministers of the previous government were using power without official connection and obtained connection after their party was voted out of power. To make matters worse, the PSEB has proposed a tariff of Rs 2 per unit for rich farmers. Should not it be on a par with other consumers? A large section of farmers is engaged in growing cash crops. Should not such consumers be treated on a par with industrial consumers? Energy audit seems to be the only solution to check power pilferages. Energy consumed on each 11 KV feeder should be audited and officers in charge be made accountable for the same. Many states have devised some or the other methodology to check power theft but Punjab has avoided it. The PSEB is highly overstaffed. For a million units distributed, Punjab has 4.5 employees, while Gujarat has 1.9;West Bengal 3.9 and Uttar Pradesh 3.5. Geographically, Punjab is much smaller and smoother for distribution of power. So, Punjab’s ratio can be reduced to 1.5. Should honest consumers be penalised for the over staffing? Realising the full cost of power from the rich farmers and those engaged in growing commercial crops, checking pilferages, toning up efficiency and some assistance from the state government can pull the PSEB out of the self-created financial mess. Power tariff hike has to be avoided at all costs to save the sagging industry in this global competitive era. |
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Britons urged to invest in Haryana London, June 21 Stating this in an hour-long meeting with the Mr Andy Scott, Director, (International Competitiveness) of the Confederation of British Industry here last night, Mr Chautala appealed to the confederation to advocate the case made out by him for promoting foreign investment in Haryana. Mr Chautala-led high-powered delegation, which also has, among others, the Finance Minister, Mr Sampat Singh, and the Principal Secretary to the Chief Minister, Mr M K Miglani, arrived here last evening after a four-day tour of the USA and Canada. Mr Chautala highlighted the benefits of making investment in Haryana. These, he said, included proximity to the national capital, New Delhi, availability of modern infrastructure, good labour relations, communal harmony, good law and order situation, availability of trained manpower and adequate power supply. He said peak-load restrictions had been withdrawn in the state since May, 2001. He said while no government was in a position to offer any sales tax incentives because of the consensus on uniform sales tax among various state governments, his government would extend all possible facilities to any foreign investment project if it generated employment opportunities for the youth of the state and revenue for the state government. He said his government had already introduced a self-assessment system for the payment of sales tax by a firm having a turnover of up to Rs 5 crore. He said the system of inspection of an industrial unit by inspectors of various departments had been done away with.
UNI
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PNB chairman asks SSI to diversify New Delhi, June 21 He said growth of SSI is essential for the growth of the banking sector as well which will be able to lend resources to the SSI only in case of growth of this sector. Talking about the current situation of the small scale sector regarding Non-Performing Assets (NPAs), he said this per centage is 22 compared to 12 per cent in other. Regarding rehabilitation of sick units he said the Indian industry could follow the footsteps of various other countries which have stringent measures for rehabilitation. Citing Korea’s example he said in Korea if industry had to go in for rehabilitation the equity ratio has to be 1:1 and India could also think about a similar way out. Mr Arun Kapur, President PHDCCI emphasised on the need for easy and adequate financing facilities for the Small Scale Industry which is facing tough competition on account of liberalisation of imports as well as overseas investors who are investing their manufacturing facilities here. Problems like marketing development, interest payment, consultancy support and various others need to be dealt urgently said Mr Sudarshan Sareen, Chairman, SMEs Committee, PHDCCI and Director PNB. President of Laghu Udyog Bharti, S.S. Aggarwal spoke out the importance of the SSI and the growth prospects. Mr P.K. Jain, Vice-President, PHDCCI called for adoption of specific and well thought out strategies to meet the special needs of the small sector including finance, marketing, exports, technology and skill upgradation. |
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Pay bonanza for Maruti MD New Delhi, June 21 According to available information, the auto giant’s out go on Khattar would go up from about Rs 30 lakh a year to over Rs 90 lakh per annum. The decision to increase salaries of MD and other functional directors assumes importance in the light of auto JV’s failure to get consent from the government in the last two years with the then Heavy Industry Minister Manohar Joshi not approving the proposal. Sources said that after privatisation of the corporation with government not taking part in the preferential issue of Rs 400 crore in lieu of Rs 1000 crore premium paid by Japanese partner Suzuki Motor Corporation, the consent from Heavy Industry Ministry was not needed. Along with the pay hike, Khattar, who is reaching the age of superannuation later this year, got a three-year contract to serve as Manageing director of the company which accounts for more than half the car market share in the country. As per the agreement, Khattar would get a total benefit ranging from Rs 90 lakh to Rs 102 lakh a years depending on certain performance parameters, sources said without elaborating. In addition to this, the pay package of the Joint Managing Director and other directors of the company has also been hiked, they said. In September, 2000 and later in May 2001, Khattar had approached the HI Ministry for revision of pay but the same was shot down apparently on account of differences between the MD and the HI Ministry.
PTI
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SBI awards trophies Chandigarh, June 21 Mr R.K. Sinha, Chief General Manager of the bank’s Chandigarh circle, today awarded trophies to the offices/branches who excelled in this area during the year 2001-02. Mr Sinha said that a total number of 3,950 such activities were conducted in circle in the last year. Group A Region-I & III (Haryana), Group B — Region-IV & III (Shimla), Group C — Shimla Nawashahar Branches, Group D — Ambala City & Thanesar branches, Group E — Shimla & Haryana Modules, Group E — STC, Panchkula. Mr Sinha also awarded trophies to the branches who made appreciable contribution in other income of the circle in the year 2001-02. Lehra Mohabbat, Shopian, Ferozepur, Rajpura, Sector-7, Chandigarh, Abohar Cantt, SCB MG Ludhiana, PSB Chandigarh. |
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Jalandhar-based cooperative society wins award New Delhi, June 21 The Chanour Agriculture Cooperative Society of Himachal Pradesh and Ballana Cooperative Credit and Service Society have also been honoured for “excellent performance”. Minister of State for Agriculture Hukumdeo Narayan Yadav presented the awards here today. The award carries a cash prize of Rs 50,000, a citation and certificate of recognition. The Khaira Majja society is engaged in multifarious activities such as providing time credit to its members, distribution of fertilisers, cement, lubricants, cattle feed and pesticides etc. As on March 31, 2000, the society had 773 members and share capital of Rs 6.42 lakh. About 25 per cent members are from the weaker sections of the society and women members constitute one-third of the total membership. The Chanour Cooperative Agricultural Service Society in Kangra district of Himachal Pradesh is basically engaged in provision of agricultural credit, fertilisers, seeds, and agricultural implements to its members. Registered in 1941, the society had a total membership of 1354 at the end of 1999-2000. The Ballana Cooperative Credit and Service Society in Ambala district of Haryana is engaged in the provision of loan for agriculture operations. It has 2635 members mainly from the farming community. Presenting the awards, the Minister said that primary level cooperatives were the first-tier institutions in the cooperative structure. He said that democratic functioning, professional management and members’ stake and linkages and high recovery are the hallmarks of good cooperatives. Cooperatives also had a role in the social welfare of the member community. |
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Spice launches dual number SIM card Chandigarh, June 21 Mr Rohit Malhotra, vice-president (sale and marketing), Spice
Communications Limited, said dual number SIM was an exciting product for professionals seeking to separate their business from their private life. It gives the user two numbers on one SIM card, which means that the user can give out one number for business purposes. The other number can then be used for personal contacts. The existing post-paid subscribers can avail of this service without giving up their present number.
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Enzyme to improve fuel efficiency Chandigarh, June 21 Discovered and developed by a team of Japanese scientists after 18 years of research, Soltron is being currently used in 20 countries for varied applications. Mr Jain told mediapersons here today that Soltron enzymes worked at the molecular level, breaking down the complex hydrocarbons in fuel into simpler compounds that were easily combustible. The simpler compounds burnt more completely than the complex hydrocarbons, he added.
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Allahabad Bank Zenith Computers Panel report IOC CII’s Kitchen Jalan book Philips ING Group |
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