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Thursday,
November 28, 2002, Chandigarh, India  
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No increase in cotton import duty
Cotton prices rule high More teeth
for banks
BSNL to roll out broadband services |
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Cabinet to set up Co Law Tribunal
Erol exports spray painting equipment |
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RITES discusses ‘Quality Systems’ Reforms must for auto industry growth
Pay farmers or face ‘auction’: sugar mill told
Uttaranchal has 12 participants for Agro-Tech Su-Kam unveils online UPS UTI Bank cuts housing rates In Graphic: LEVEL OF POVERTY
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No increase in cotton import duty New Delhi, November 27 Replying to a calling attention motion moved by Mr Sanjay Nirupam (SS) and others in the House on the situation emerging as a result of suicides by cotton growers in Maharashtra and other parts of the country, Agriculture Minister Ajit Singh said cotton produce in the world this year had been low. Therefore, any further increase in the import duty on cotton at this stage was not warranted. He said it was only last year that the import duty on the commodity had been increased from five per cent to 10 per cent. The walkout by the Shiv Sena members, a key constituenct of the NDA coalition government, came when the Agriculture Minister refused to give them a categorical assurance that the Centre would send a team to Maharashtra to look into causes of suicide by cotton growers. Mr Ajit Singh said the BT Cotton had been approved by a technical expert committee. In the next three years the Indian Council of Agriculture Research (ICAR) would be in a position to produce genetically modified cotton seeds which would benefit the farmers. Earlier in a statement in response to the calling attention motion, Mr Ajit Singh said the Centre was ready to render all possible help to the states in mitigating the hardships faced by cotton growers. Denying reports that scores of cotton farmers had committed suicide because of low yield and inability to pay loans, the minister said: “No state has, till date, reported any instance of suicide by the cotton growers which is linked with prospects of cotton.” To safeguard the interest of cotton growers the government announced minimum support price for the procurement of cotton through the Cotton Corporation of India. The government was providing quality seed and encouraging popularisation of the Integrated Management and Insecticide Resistance Management methods to minimise use of chemical pesticides, he said. Because of drought conditions prevailing in various states, only 7.5 million hectares of land would come under cotton cultivation during 2002-2003 as against 8.22 million hectares last year. Initiating the debate, Mr Nirupam claimed that 87 cotton farmers committed suicide in Maharashtra in the past two years. He urged the Centre to appoint a fact-finding team to investigate suicides by the farmers. Mr Prithviraj Chavan (Cong) said cotton growers were facing a grave crisis, but denied Mr Nirupam’s claim that any farmer had committed suicide. He urged the Government to increase duty on cotton. If this was not done, the entire system would collapse, he added. |
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Cotton prices rule high Ludhiana, November 27 Enquiries show that private traders are making the bulk purchases of cotton with the hope that the prices would rise further in view of the overall fall in the cotton production in the country this year. The cotton mills in the regions are not making aggressive buying of cotton because, the same do not go with the prices of cotton yarn now prevailing in the market. The Cotton Corporation of India and the Punjab Markfed are also not very active in the mandis. Mr D.L. Sharma, Executive Director of the Mahavir Spinning Mills maintain that there is no profitability in cotton yarn prices with this level of cotton prices. Unless the yarn prices go up, these prices cannot stay at this level and the mills will not be aggressive buyer. The cotton with
Abohar and Mansa leading at 1200 to 1500 and 500 to 600 bales respectively. In Haryana Sirsa mandi is receiving the highest arrivals of 1000 to 1100 bales while in Rajasthan Hanumangarh and Sriganganagar mandis are receiving 700 to 800 bales daily. The mandis of the Northern region comprising Punjab, Haryana and Rajasthan have received as many as 4.50 lakh bales of cotton sofar. The arrivals in the mandis during the previous year upto November 30 were to the tune of 7.50 lakh bales. The latest estimates of cotton production in the region show that the production in the three states would be around 22 lakh bales. Punjab and Haryana are expected to have production of nine lakh bales each while Rajasthan three lakh bales. Enquiries further show that the overall production of cotton in the country would be around 145 lakh bales against 158 lakh bales of the last year. The area under cotton decreased this year due to the failure of monsoons and the low prices of cotton last year. There was fall in area by 12 percent in the Central India. According to Mr Sharma, the prices of cotton in the international market are high this year which were quoted at 47 to 48 cents per pound against 25 cents per pound in 2001 which were the lowest in the recent history of cotton production. The cotton production in the world is estimated at 21.5 million tonnes against the consumption of 20.3 million tonnes. China is the biggest cotton producer in the world with 5.5 million tonnes followed by the USA with 4.3 million tonnes. This year production in both these countries is going to fall to 4.6 million tonnes and 3.9 million tonnes respectively. Mr Sharma says that India is importing 15 lakh bales of cotton every year and this year too, there will be import of about 12 lakh bales mainly from USA, CIS countries and Australia. Mr Sharma has pressed upon the Union Government to reduce the import duty on cotton which is 10 per cent and bring it to zero level as is prevalent in other countries to compete in the world markets. The production of desi kapas is likely to be around 3 lakh bales this year in the Northern Region and the prices rule at Rs 1800 to 1950 per quintal. |
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More teeth
for banks New Delhi, November 27 Finance Minister Jaswant Singh announced a one-time settlement scheme for loan defaulters who had borrowed up to Rs 10 crore from public sector banks. The Lok Sabha had passed the Bill last week and the Rajya Sabha passed it by voice vote yesterday. The Bill will replace a Presidential Ordinance promulgated in June and then re-promulgated in August this year. The Rajya Sabha also rejected by a voice vote the statutory resolution moved by Congress member Kapil Sibal on Monday, disapproving the ordinance.
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BSNL to roll out broadband services New Delhi, November 27 “At present the pilot on broadband is on in Kolkata and the service will be started in ten cities across the country in the next two-three three months,” BSNL Chairman and Managing Director Prithipal Singh told UNI. The broadband services would be available in 80 cities in the next six to eight months, he said. “The infrastructure for the services is coming up fast,” Mr Singh said on the sidelines of an awards function organised by Voice and Data magazine of the Cyber Media group yesterday. The broadband services launch of the company has been postponed more than once earlier. It was slated for launch this month. The services will include TV broadcast of 40 to 50 simultaneous channels, interactive TV, video-on-demand, video conferencing, audio-on-demand, multi-party audio-conferencing, unified messaging and high-speed Internet access. “Many clients have shown interest in our broadband services,” Mr Singh said. Mobile services launched PATHANKOT: Mr Vinod Khanna, Union Minister of state for Tourism and Culture
inaugrated cellular mobile service of BSNL in Pathankot today. He spoke on mobile to Mr Sanjay Paswan, a senior most officer in Telecommunication Ministry as a token to launch mobile services from Pathankot. Mr S.C. Choudhry, Chief General Manager,
Punjab BSNL Circle, said that more than 2000 mobile connections will be provided to the customers in Pathankot in first phase.
OC, UNI |
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Punjab to look beyond makki-di-roti New Delhi, November 27 Undoubtedly, Punjab, which used to be pride of India, for its progress and prosperity, is lagging behind almost all fronts. It social, economic and even political indicators tell a disappointing tale about its standing, at present in the country. Lesser known states such as Andhra Pradesh, Karnataka have left Punjab behind especially in modern soft industry, that has become a lifeline of the world economy at the moment. Of course, makki-di-Roti, Punjabi jutti, phulkari, which were exhibited as rarities of the state at IITF by the authorities concerned are symbols of great Punjabi culture but what Punjab needs at the moment to tell the world that it is still a best destination for investment because of the infrastructure available and its enterprising people and non-fussy character of its work force. Without “projecting” Punjab in right earnest before the investors, the state is bound slip further down the ladder of economic and industrial development. Two types of people come to see the IITF. Serious minded people really interested to update their knowledge with regard to latest development in various fields of technology. Second: fun loving people who enjoy wading through big crowds and with eat and be merry sort of attitude. Youth is mostly interested in computers, modern bikes and other items of luxury. Punjab had nothing to show to them in this connection. However, Punjab’s tractor — Swaraj — a symbol of state’s agriculture bulwark was very much on exhibition at the fair. The theme of the IITF this year was services, export, and tourism. Punjab’s services sector-education, health, drinking water etc is in shambles. The government is desperate to privatise education and health sector at the earliest possible. So, it has nothing to claim worthwhile in this connection. Punjab is not a major destination for tourism also. It is true that Golden Temple is one of the most sought after religious place by tourists especially those having religious bent of mind, but one cannot name any other place of tourist attraction. All forts in Punjab are in bad shape. You go to Rajasthan or Mysore and see forts there. And that marks the difference among Punjab and other such states. Rajasthan is able to sell its deserts to tourists but Punjab is unable to sell its greenery. Punjab Chief Minister, Capt Amarinder Singh, also visited the pavilion and was also present in the cultural evening organised by Punjab to celebrate its day, last evening, at IITF. Mr Avtar Henry, Minister of Industries and Mr Ashwani Shekhari, Minister of State for Industries and Mr P.S. Aujla, Managing Director, PSIEC and several other officers were also present at the pavillion. Participants from Punjab generated retail business of Rs 2 crore approximately and export inquiries worth Rs 10 crore were also there. |
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Cabinet to set up Co Law Tribunal New Delhi, November 27 A proposal to set up such a tribunal, empowered to settle day-to-day disputes and other related issues of sick companies, was cleared by the Cabinet, sources said here. The proposed Tribunal would be a quasi-judicial body vested with powers now enjoyed by Company Law Board and Board for Industrial and Financial Reconstruction (BIFR), as also the winding up powers enjoyed by High Courts, sources said. The tribunal would come into being after the passage of Company Law Amendment Bill, 2002 for the purpose, which the government intends to introduce soon. Expected to comprise about 60 members, the CLT will function as several benches set up across the country to tackle disputes and cases of sickness effectively. |
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Erol exports spray painting equipment Yamunanagar, November 27 The largest manufacturers in this field are located in the USA, Germany, France, UK, The Netherlands, etc. They are using aluminium alloy as the base material for the control equipment of abrasive blasting. Erol Exports are the only ones in the World outside the USA and Europe who are manufacturing such control equipment and supplying to those world majors. Mr Lalit Saluja, Managing Director of the company, is an M.Tech from IIT Bombay and is a Fellow of Institution of Engineers. In a short span of time, Erol has emerged as one of the largest in the world for the manufacture and supply of control equipment of the World Majors and others. Erol is exporting to more than 30 companies in the USA, Canada, Germany, France, UK, Denmark, Sweden, Finland, Australia, New Zealand and South Africa. |
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RITES discusses ‘Quality Systems’ Ludhiana, November 27 Mr A.K.M. Sharma during the seminar said that there is a new emphasis on determining ‘‘customer needs and expectations,” converting to requirements, and fulfilling “with the aim of achieving customer satisfaction.” This is much more proactive than the current wording standing the quality policy “shall be relevant to the expectations and needs of its customers.’ Mr Rakesh Chopra, in his presentation said that ISO 9001 version 2000 places much more emphasis on quality objectives. They now command a separate section and include requirements that objectives be established ‘at relevant function and levels’ and that they be ‘measurable’. Earlier while introducing the subject, Mr V.K. Goyal, General Secretary,
LMA said that ISO 2000 is the most successful standards in the history of the International Standards Organisation. But as all the things around are evolving so is ISO 9000 and this is the reason that we are witnessing a period of transition form old to new quality systems.
Certainly like any transition there are challenges involved in this transition too. Mr Mahesh Munjal, Vice President , LMA in his address said, “Old view of quality was ‘product and services that are provided exactly to specifications’ ‘New view of quality is ‘ Product and services that tally satisfy our customer needs and expectation in every respect on a continuous basis’ ‘According to ISO 9000:2000 the definition of Quality is ‘Degree to which a set of inherent (existing) characteristics fulfil requirements, “ Mr Munjal added. |
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Reforms must for auto industry growth New Delhi, November 27 “The government appropriates taxes which does not commensurate with the value added by it, necessitating high prices of automobiles,” President of the Society of Indian Automobile Manufacturers (SIAM) and Managing Director of Ashok Leyland R Seshasayee said. He said a simple tax structure of 9 per cent VAT and 16 per cent excise duties was needed. “This alone can make quality passenger cars affordable in the market and drive growth in the segment,” he said, speaking at the Auto Evolution 2002 organised by CNBC here yesterday. The commercial vehicle segment received much of the panel’s attention with the construction of the “Golden Quadrilateral” highway project being hailed as a major growth driver. The panel highlighted the imminent change in transport economics, which the project necessitates. The panel also highlighted the need for the government to reduce the taxes levied on the automobile industry. The panel opined that the government under no condition should appropriate more than 25 per cent of the total value of any good as taxes. Mr BVR Subbu, President Hyundai Motor Company said “we will be present in the European market by 2003 and should be on our way towards building a base in the USA.” |
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Pay farmers or face ‘auction’: sugar mill told Chandigarh, November 27 The state government also urged the cane growers of Naraingarh to take their produce to sugarmills in Shahbad, Karnal, Kaithal, Yamunanagar and Bhadso as the mill at Naraingarh was yet to pay the farmers arrears amounting to Rs 15.73 crore and was in no position to undertake cane crushing operation. Mr Chautala, according to the release, also said if necessary sugarcane of Naraingarh would be diverted to others mills of the state to safeguard the interest of the farmers. |
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Uttaranchal has 12 participants for Agro-Tech Chandigarh, November 27 A new state with an investor- friendly government, favourable climate and excellent infrastructure, Uttaranchal promises to become an ideal agri-business destination. The Uttaranchal pavilion at Agro Tech 2002 has 12 participants from the Directorates of Horticulture, Sericulture, Tea, Dairy Development, as well as from Maple Organics, Mahindra Shubh Labh, Plantis Agrotech etc. Showcasing their R&D expertise are the Herbal Research Development Institute the Himalayan Research Institute the Society for Himalayan Environment, G.B. Pant University of Agriculture and Technology. |
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Su-Kam unveils online UPS Chandigarh, November 27 Mr Kanwar Sachdev, CEO of the company, said the state-of-the-art UPS was fitted with LCD equipment that displayed all important information, such as input voltage, applied load, battery voltage on the screen. “If any snag develops in the UPS, a software with it sends SMS to computer about the fault”, he said. Assisted by a US firm, the UPS had Sine Wave technology that was important for successful running of any electrical equipment. The UPS took no time in transferring power to the connected system, he said. The VFI technology in the UPS stabilised the voltage between 220-230 providing maximum protection to the connected system. The company has fixed a total target of 150 crore. The company is focusing its export to Nigeria, Ghana, Bangladesh, Sri Lanka Panama, etc. Su-Kam's 1KVA online UPS is priced at Rs 26,500 while 10 KVA UPS will cost Rs 98,500.However, these are available up to 40 KVA.
TNS |
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UTI Bank cuts housing rates Mumbai, November 27 The new rate for a loan ranging from Rs one lakh to Rs 50 lakh and a tenure of upto five years stands revised to 9.25 per cent and in case of tenure of more than five years upto 10 years, interest would be 9.75 per cent, UTI Bank said in a release here today. For a loan tenure of more than 10 years upto 15 years and more than 15 years, the rate would 10.25 per cent, it added.
PTI |
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Sterlite Optical net loss at Rs 41.16 cr
Mumbai, November 27 Total income (net of excise duty) in the period under review has decreased to Rs 57.55 crore as against Rs 264.82 crore in first half ended September 2001. PTI |
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RBI counter Amway |
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