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| Tuesday,
July 16, 2002, Chandigarh, India   
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PF office to issue social security cards to employees
Hi-tech wing's SOS to disinvestment panel Bankable
schemes for investors on cards
Car and bike exports up |
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Western Union plans road shows Jet offers special fares on 4 routes
Air Sahara launches 25 cr reward scheme
Aug 31 last date for filing bulk returns
Pfizer to buy Pharmacia
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PF office to issue social security cards to employees Chandigarh, July 15 This was stated by Mr N.N. Sharma, Regional P.F. Commissioner (I), Punjab and UT Chandigarh, here today. He disclosed that the EPF has chalked out an elaborate plan to modernise its offices and operations. As part of it, six regional centres, including Kota, Gurgaon, Patna, Hyderabad and Mangalore, in addition to 10 other offices, including two offices in Ludhiana and Amritsar, are being developed as model offices. Elaborating the modernisation project, to be implemented shortly, he said, “These offices will be fully computerised and the data would be connected online at the central level. They will facilitate settlement of cases within 2-3 days and will provide service at any time through PF kiosks. Accounts will be updated on monthly basis and computerised cheques will be issued to settle the cases in a transparent manner.’’ The Regional PF office, he said, was also trying to improve its service level by creating awareness among employees and employers. He claimed, ‘‘In Punjab and Chandigarh, the number of organisations covered under EPF scheme has increased from16,646 in 2000-01 to 17,373 in 2001-02, registering a growth of 4.37 per cent. Similarly the number of accounts increased from 16.58 lakh to 17.67 lakh during the corresponding period, registering a growth of 6.63 per cent.’’ Mr Sharma, who has been recently transferred from Jaipur, admitted that like Rajasthan and other states, most of the employers in the region were not ready to disclose correct information about employees and were not depositing their contribution in time. The department was though empowered to take action against them under section 7 A and Section 14 B. He said, ‘‘Under Sections 7 A, 30.94 crore has been recovered from defaulters in 1560 cases during the past
year. The department has also powers to attach the properties and bank accounts of defaulters, however, we encourage them to follow the rules voluntarily.’’ They should understand that the social security of workers contributes to the productivity level as well. Mr Sharma pointed out that the Union Government has introduced a multiple benefit scheme. After the consent of Parliament, the department would introduce an Unemployment Insurance scheme to all the employees. They would get benefits in case of retrenchment from PSUs and private units. The employers and employees would have to make a marginal contribution to get benefits from the scheme, he added. |
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Hi-tech wing's SOS to disinvestment panel CAUGHT in a snare — This is how researchers and hydrogeologists from the Punjab State Tubewell Corporation (PSTC) feel after the disinvestment panel tabled the report recommending that the corporation be wound up and employees retrenched. Numbering just eight in the mammoth set-up of nearly 3,200 employees they are the hi-tech face of this 30-year-old corporation functioning as an independent unit — the Hydrogeological (Hydro-) wing. Their grouse is that they might be ordered to pack their bags unheard. All because the panel has not spelt out any specific rehabilitation scheme for this cadre despite corresponding posts lying vacant in the other departments of the state. Ironically, some equivalent posts were filled up recently by inviting fresh applications in the state's agriculture department. Created as a full-fledged unit in 1990 to supervise drilling operations after the World Bank made it a pre-requisite before sanctioning a grant running into crores to the corporation for the installation of deep tubewells in Kandi area of Punjab, Hydro-wing has come a long way. Today it boasts of imported equipment worth millions, like spectrophotometer, computerised survey gadget, borehole TV camera, sophisticated logging machines and technical software like Arcview, Grivel and Resixp, most of which has been acquired through relief grants. Even after the projects stopped completely, this hi-tech wing generated a revenue of nearly 17 lakh during the last five years for the corporation by providing consultancy to corporate giants like Nestle, Dadi Mineral Water, Pepsi, BPCL, JCT, Spinfed, Vita and Amrit Banspati, besides suggesting remedial measures to rejuvenate abandoned tubewells. Impressed by the sophisticated laboratory Panjab University, Chandigarh, granted it recognition as a centre for research in ground water, thereby making it one of the labs where doctoral work could be pursued. Senior Hydrogeologist, the in-charge of the wing, in a separate representation to the Member Secretary, Disinvestments Commission, Punjab, has pleaded that such sophisticated equipment and trained manpower be transferred to other state departments like agriculture and water resources. Hydrogeologists said while identical vacant posts were filled in the state agriculture department through interviews recently, the fate of such 'to-be-retrenched' staff hangs in balance. Their grouse is that the government should have adjusted them first before inviting fresh applications. "Certainly the left hand of the government does not know what the right is doing," they say. Meanwhile, engineers' association of the corporation has suggested that at least 10 to 15 per cent of revenue collected by Mandi Board as rural development fee and market fee be diverted to PSTC and the cost of lining of water courses be recovered as levies (abiana) from the beneficiaries to make the corporation a sustainable business model. |
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Bankable
schemes for investors on cards Chandigarh, July 15 He was addressing a press conference after receiving the report of the Chief Minister’s Advisory committee on industrial growth and development of relevant infrastructure from the Chairperson, Mr A S Chatha. Capt Amarinder Singh said he did not find any logic in what the banks had to say on dismally low credit-deposit ratio in Punjab. Against huge collections, the plough-back into the state by the banks was negligible. In order to attract investors, both multi-national companies and India’s own big industrial houses, Punjab would ensure bankable schemes. “I am aware of the discriminatory attitude of the banks towards the state. We will not allow it to continue”, he added. The new industrial policy being framed would draw feedback from the report’s recommendations to attract new industry and revive the existing one in tune with the requirements of the WTO. Punjab has been giving incentives and concessions. But in view of the resource crunch, barring some exceptions regime of subsidies and concessions would be done away with. Capt referred to setting up special economic zones and special agriculture zones. Capt Amarinder Singh made a humble gesture when he left his seat to allow Mr Chatha to sit in and explain the salient features and recommendations contained in the report. The report stresses on providing a business environment with a pro-active positive policy approach and focusing on cost-effectiveness, infrastructure development, discarding archaic laws and assuring good governance sans roadblocks. He also listed the steps required to restructure and refinance the state financial institutions to effect recoveries from the defaulters, who are to repay loans and return equity. Mr Chatha talked about widespread industrial “sickness” that has affected nearly 50 per cent units and also how industrial growth would provide employment avenues to lakhs of educated jobless. The PSIDC Managing Director, Mr Viswajeet Khanna, said Rs 20 crore had been recovered from defaulters and negotiations were in progress to effect more recoveries, including through one-time settlement mechanism as also auction of “sick” units. Capt Amarinder Singh reiterated that the final decision of accepting or not the recommendations, may these be of the Chatha committee, Vaishnav committee on disinvestment or Johl committee on agriculture and dairy, rested with the government. “We will take appropriate and objective view before finalising any policies to implement the reports aimed at resuscitating the state’s economy.” |
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Car and bike exports up
New Delhi, July 15 A total of 39,076 vehicles were shipped during April-May 2002-03 against 24,522 units a year ago, data compiled by the Society of Indian Automobile Manufacturers (SIAM) showed. Car exports went up by a robust 58.6 per cent to 8,604 units on the back of a 38 per cent rise posted by Ford India which exported 5,855 completely-knocked-down kits of its mid-size car ‘Ikon’. Maruti Udyog also recorded a 7.25 per cent growth at 1,850 cars. Hyundai Motors and Tata Engineering posted impressive 7 and 10 fold increase at 695 and 202 cars, respectively. However, utility vehicle exports dived by 63.4 per cent to 167 units (457 units). The growth in the M&H vehicle segment was mainly due to a three fold rise in exports of passenger carriers at 285 units. This was led by Tata Engineering’s three times increase at 147 units and Ashok Leyland’s 176 per cent rise at 138 units. M&H goods carriers posted about three times growth in exports at 582 units led by Ashok Leyland and Tata Engineering with 184 and 67.8 per cent rise at 108 and 141 units respectively during April-May this fiscal. Motor cycle and step-thrus export shot up by a whopping 113 per cent to 16,195 units (7,572 units). Bajaj Auto saw a three fold jump at 7,175 units (2,168 units) while Hero Honda posted a 36.4 per cent rise at 2,727 units (1,998 units). Yamaha posted a rise of 125.3 per cent to 5,470 units while TVS and Royal Enfield registered declines of 8.5 and 15.3 per cent at 590 and 232 motorcycles. However, scooter exports dived by 20.2 per cent to 4,199 units (5,263 units).
PTI |
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Western Union plans road shows New Delhi, July 15 “Of the 190 countries where we are present, India is one of the top five potential markets and we have major business expansion plans,” observed Mr Anil Kapur, Director General (India), Western Union, told mediapersons here today. The company, having over 1 lakh agent in the world, has increased its locations to 6,500 in India in six months. ln India it is Punjab followed by Delhi which captures the major share. The company has chalked out plans to launch awareness campaigns and road shows with special focus on the Doaba belt. Western Union has more than 10 per cent of its 750 agents in Punjab. Mr Kapur said the company is looking for tie-ups with banks and other government institutions. A five-year agreement was signed in January, 2001, between Western Union and India Post under which the company’s services are offered in the post offices. While the number of post offices where these services were offered by 2001 was 700, this number has increased to 3,000 now. “We plan to aggressively enhance our post office locations in the next six months,” said Mr Kapur. Meanwhile, Western Union has also announced its tie-up with Emirates Post. |
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Jet offers special fares on 4 routes New Delhi, July 15 The airline has also announced a special return excursion fare for the Delhi-Varanasi-Delhi sector in the Economy Class. These special fares will be applicable from July 15 to September 30. A passenger availing the return excursion fare on the Delhi-Varanasi-Delhi sector must commence his journey on or before September 30, 2002, and complete the return journey on or before October 15, 2002. The new revised rates are: Delhi-Lucknow — 2,720, Delhi-Jammu — 3,575, Delhi-Srinagar — 3,840, Delhi-Varanasi-Delhi — 7,575. The tickets already issued on the routes will be reissued with the special fares without any reissuance charges for the journey commencing on or after July 15. |
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Air Sahara launches 25 cr reward scheme New Delhi, July 15 As the Jet Airways announced cut in the air fares, Air Sahara today came out with a unique reward scheme “Crickcitement” which has over 1 million prizes to won between July 21 to January 31. Already the main sponsors for the Indian cricket team, of which Air Sahara is a part, is offering colour televisions, E-Class Merecedes, Hyundai Sonata, Pentium-4 computers and a timber chalet worth Rs 2.5 crore in Amby Valley, Lonavala. The prizes also include all-paid trips to cricket matches in Sri Lanka, New Zealand and South Africa. DVDs, microwaves, special edition cricket souvenirs and exclusive Sahara India cricket clothing will be the other things on offer on every flight at the break of a fortune cookie which will be given to every
passenger. Launching the programme at a media conference today, Air Sahara CEO Uttam Kumar Bose said many more people would be able to take part in the scheme since the domestic airline was going to increase its flights from 53 to 155 by the end of the year with a fleet of 23 aircraft. Several new sectors will be announced every month, he promised. |
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Aug 31 last date for filing bulk returns Chandigarh, July 15 The Central Commissioner of Income Tax, here in a press note issued today, claimed that this had been done to give adequate time to the eligible employees to take full advantage of the scheme. The employers can now file bulk returns on electronic format together with paper returns of their employees. |
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Asian Paints net up Mumbai, July 15 Net sales/income from operations in the reporting quarter also increased by 15.98 per cent at Rs 321.56 crore as against Rs 277.25 crore in Q1 of last year.
PTI |
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Bank of India net up 42.43 pc Mumbai, July 15 The total income in the reporting quarter also increased to Rs 1,698.55 crore as against Rs 1,531.69 crore in Q1 of last financial year, BOI said in a release here today.
PTI |
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SIDBI to pay 12 pc New Delhi The cumulative sanctions and disbursements of SIDBI since inception stood at Rs 75,255 crore and Rs 52,312 crore, showing a compounded annual growth rate
(CAGR) of 13 per cent and 11 per cent respectively, according to CMD
P.B. Nimbalkar. UNI |
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Pfizer to buy Pharmacia Washington The marriage gives Pfizer — already the world’s biggest drug company — full rights to one of the pharmaceutical industry’s most prized products: the popular arthritis drug Celebrex. The deal, expected to be announced later today, would create an industry behemoth with over $ 48 billion (Euros) in revenue and a research and development budget of more than $ 7 billion.
AFP
IBM Global gets exporter’s award Mumbai The association recently announced awards for “Excellence in Business and Exports’’ for year 2001-02. The MAIT recognition comes close on the heels of Software Technology Parks of India (STPI), Karnataka chapter’s recognition of IGSI as `Top MNC Software Services Exporter’ and `Top Foreign Equity Company’’ in the southern state for 2001-02.
UNI
Hospital gets healthcare grade Mumbai BHMRC, managed by the Bombay Hospital Trust, is the first hospital to be assigned the healthcare grade in the city after Delhi and Chennai, Crisil said in a release here today. Crisil has classified BHMRC as a “multi-specialty tertiary care hospital”, the rating agency said.
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Telecom strike ONGC |
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