Saturday, August 9, 2003, Chandigarh, India






National Capital Region--Delhi

THE TRIBUNE SPECIALS
50 YEARS OF INDEPENDENCE

TERCENTENARY CELEBRATIONS
B U S I N E S S

Fixed-line operators get limited mobility
New Delhi, August 8
The Telecom Dispute Settlement and Appellate Tribunal (TDSAT) today allowed the fixed-line operators to offer limited mobility ( WLL) services.

GSM cell operators to challenge ruling
New Delhi, August 8
The GSM cellular operators today said they would consider challenging the judgement of the Telecom Dispute Settlement Appellate Tribunal (TDSAT) allowing fixed line operators to offer WLL (M) services but maintained that the WLL (M) service would undergo a major change in the wake of the judgement.

India can save power worth Rs 40,000 cr, says expert
Chandigarh, August 8
The Indian industrial and commercial sector could help the Indian economy to save over 3000 MW of energy worth over Rs 40,000 crore by adopting energy conservation measures.

Himachal to promote traditional handicrafts
Shimla, August 8
The Himachal Government will promote traditional handicrafts and handloom on a large scale and pay special attention to the dying art of wood-carving and sculpture r-making.

Land to outsiders within 45 days
Kulu, August 8
Ram Lal Thakur, Industries Minister said the permission to outsiders for purchase of land for setting up industries in Himachal Pradesh will be granted within 45 days.



EARLIER STORIES

 

Panel to supervise crop insurance scheme
Chandigarh, August 8
The Haryana Government has decided to constitute a committee for supervising the implementation of crop insurance scheme in the state.

Govt calls financial bids for NFL
Ropar, August 8
The Ministry of Disinvestments has called the financial bids for the sale of 51 per cent equity in the National Fertilizers Ltd. (NFL). The sources in the NFL Nangal unit told this correspondent that in the decision finalised yesterday evening three companies including Chambal Fertilizers, Tata Chemical, Indo Gulf Fertilisers and Kribco, an interstate cooperative have been finally invited for giving their financial bids for the over Rs 2000-crore turnover fetiliser public sector unit.

US firm to prepare BPCL accounts
New Delhi, August 8
The Inter-Ministerial Group (IMG) on disinvestment has approved the appointment of a US accounting firm for divestment of the government’s 25 per cent shareholding in BPCL through public float in the American share market.

Oil India not to be disinvested: Shourie
New Delhi, August 8
The government today informed Rajya Sabha that Oil India Ltd is not to be disinvested and its equity will not be reduced below 51 per cent in IOC, ONGC and GAIL.

ROUND-UP

JCB to expand operations in India
New Delhi, August 8
JCB India, a 100 per cent subsidiary of $ 1.5-billion earthmoving equipment manufacturer, JC Bamford Excavators, is planning an aggressive marketing strategy to expand its presence in India.

  • HMT signs MoU with Bhabha Atomic

  • Automaker BMW net falls 10 pc

  • Rallis India to raise 88 cr


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Fixed-line operators get limited mobility
Tribune News Service

New Delhi, August 8
The Telecom Dispute Settlement and Appellate Tribunal (TDSAT) today allowed the fixed-line operators to offer limited mobility ( WLL) services.

The 2:1 majority judgement passed by the TDSAT upheld the decision of the government taken in January, 2001, allowing fixed line operators to provide WLL services and turned down a petition by the Cellular Operators Association of India challenging the legality of limited mobility services. TDSAT Chairman Justice D.P. Wadhwa, however, wrote a dissenting note, saying that the WLL services were not legal.

Justice R.U.S. Prasad and Justice C.R. Dasgupta asked TRAI and the government to create a level-playing field between WLL (M) and cellular operators and called for the imposition of additional license fee for the WLL (M) services.

They said the decision by TRAI and the government should be taken within four months and at the same time ensure that WLL (M) remain within the specified short-distance calling area.

TDSAT also asked the government to provide additional spectrum availability for WLL (M) service providers considering the large scale of its operations.

In his note of dissent, TDSAT Chairman Wadhwa questioned the legality of the government decision to allow fixed-line operators to provide WLL (M) services and held the Department of Telecom responsible for not furnishing relevant records to the empowered Group of Ministers.

“Even TRAI failed in its legal obligations and gave faulty recommendations,” he added.

Meanwhile, Reliance Infocomm, the largest WLL mobile service provider in the country said today TDSAT’s verdict of upholding government’s WLL policy would end the uncertainties among consumers.

“The consumers were not forthcoming... it was psychological. The verdict will end the uncertainties,” Mr Manoj Modi, Executive Director of Reliance Infocomm told PTI from Mumbai.

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GSM cell operators to challenge ruling
Tribune News Service

New Delhi, August 8
The GSM cellular operators today said they would consider challenging the judgement of the Telecom Dispute Settlement Appellate Tribunal (TDSAT) allowing fixed line operators to offer WLL (M) services but maintained that the WLL (M) service would undergo a major change in the wake of the judgement.

“All members have to take a decision on this. But is likely that we may approach the Supreme Court,” counsel for the Cellular Operators Association of India (COAI) said.

“WLL service will undergo a change as the TDSAT judgement has restricted handing over of call from one short-distance calling area (SDCA) to another and Delhi is divided into four SDCAs,” the counsel told newspersons said.

The Association of Basic Telecom Operators (ABTO) on the other hand contested the claim of the COAI. The COAI has said there are four SDCAs in Delhi.

“There is no telecom authority regulation or notification dividing Delhi into four SDCAs. The claim of COAI is incorrect and misleading,” ABTO counsel said.

The ABTO said fixed line operators were already restricted from handing over of a call from one SDCA to another. “But saying Delhi is divided into four SDCAs is incorrect,” an ABTO member said.

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India can save power worth Rs 40,000 cr,
says expert
Tribune News Service

Chandigarh, August 8
The Indian industrial and commercial sector could help the Indian economy to save over 3000 MW of energy worth over Rs 40,000 crore by adopting energy conservation measures. It would also help them remain competitive in the international market, since most of the Indian units were using 3 to 5 times more energy for production in comparison to the developed countries, said Mr K.K. Chakraborty, Senior Energy Specialist at Bureau of Energy Efficiency, Ministry of Power.

Talking to the TNS here today, he said: ‘‘The increasing gap between the demand and supply of power may adversely affect the potential GDP growth of the Indian economy. With the restructuring of power, the cost of power to the industrial and commercial sector would substantially increase and would affect their competitiveness in the international market.’’

He disclosed that the installed capacity of Indian power sector was about 1.07 lakh MW, out of which a large portion was wasted due to inefficient technologies and poor maintenance of electric appliances. He said the Energy Conservation Act 2001, that has been implemented with effect from March 2002, would aim to check the growing menace of energy wastage.

He said the Ministry of Power has planned, in collaboration with the industrial associations to promote energy-efficient technologies especially in the ‘‘energy intensive units.’’ These units are using approximately 70 per cent of the power consumed in commercial sector. Any industrial unit, he said, which has a power load of 5000 KW or more and commercial building like hotels, with 500KW or more load would be covered under the first phase. These units are mostly concentrated in aluminum, chemical, paper, steel, fertiliser, alkalis and petro-chemical sector.

Mr Chakraborty disclosed that a notification would be soon issued by the Ministry that would make it mandatory for the large scale units to appoint energy managers who would be responsible for energy auditing and conservation measures. The units would have to conduct energy audit once in a three years from the certified energy auditors.

He said a Steering Committee would be set up by soon the Centre comprising of energy experts, consumer rights protection groups and manufacturers, that would promote the energy efficient electric appliances like refrigerators, air conditioners and even electric pump-sets for the agricultural sector.

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Himachal to promote traditional handicrafts
Tribune News Service

Shimla, August 8
The Himachal Government will promote traditional handicrafts and handloom on a large scale and pay special attention to the dying art of wood-carving and sculpture r-making. This was stated by the Chief Minister, Mr Virbhadra Singh, while reviewing the working of the state Handicrafts and Handlooms Corporation and the state Financial Corporation here yesterday.

Mr Virbhadra Singh said the state was rich in traditional handicrafts. It was to promote this that the corporation had been set up. He said traditional handicrafts had adequate market amongst arts lovers throughout the country and even abroad. If it fully exploited, it could help in reviving the arts, some of which were on the verge of extinction.

Mr Virbhadra Singh said the authenticity of art objects had to be adhered to while expanding the working area by including agricultural produce, traditional silver jewellery, wooden artefacts and gift items which were in great demand. He said trained artisans of various handicrafts should be associated and quality of products maintained.

He said master craftsman should be identified to train new generation artisans. He said possibilities should be explored to match the arts of tribal areas with the demand in market. The Chief Minister said comprehensive proposals the regarding promotion of art should be sent to the Central Government to avail finances from different ministers. He said the state government would provide all possible assistance to help the corporation expand its activities and attain self-reliance.

Mr Virbhadra Singh directed the state Financial Corporation authorities to lay emphasise upon the recovery of loans granted to various entrepreneurs for establishing their industrial units.

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Land to outsiders within 45 days
Our Correspondent

Kulu, August 8
Ram Lal Thakur, Industries Minister said the permission to outsiders for purchase of land for setting up industries in Himachal Pradesh will be granted within 45 days. He suggested that a committee should be formed at the directorate level under the chairmanship of Additional Director of Industries with Tehsildar and General Manager of the District Industries Centres as members. He said they should identify government land in their districts and submit the details to the committee for further getting that land transferred in the name of the Industry Department.

The minister said the government has framed a rehabilitation plan to revive the sick units in the state. He advised the General Managers to execute such plans with the consultation of experts and the owners of the sick units.

He said the truck unions in Himachal Pradesh are also hampering the industrial growth of the state.

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Panel to supervise crop insurance scheme

Chandigarh, August 8
The Haryana Government has decided to constitute a committee for supervising the implementation of crop insurance scheme in the state. While stating this here today, an official release said that the committee would be headed by Principal Secretary, Agriculture and include as members Secretaries of Cooperation and Finance Departments, Registrar, Cooperative Societies and representatives of the Ministry of Agriculture as well as of the Nabard, RBI and other banks.

The release said that in a meeting here today, which was attended by the Chief Minister, Mr Om Prakash Chautala, a presentation on the crop insurance scheme was also made by Mr K S Bhoria, Principal Secretary, Agriculture.

All the food crops including cereals, millets, pulses and oil seeds as well as other commercial and horticultural cropds were likely to be covered under the scheme. — TNS

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Govt calls financial bids for NFL
Our Correspondent

Ropar, August 8
The Ministry of Disinvestments has called the financial bids for the sale of 51 per cent equity in the National Fertilizers Ltd. (NFL). The sources in the NFL Nangal unit told this correspondent that in the decision finalised yesterday evening three companies including Chambal Fertilizers, Tata Chemical, Indo Gulf Fertilisers and Kribco, an interstate cooperative have been finally invited for giving their financial bids for the over Rs 2000-crore turnover fetiliser public sector unit.

The Iffco also an inter state cooperative that had also given expression of interest for the company had later withdrawn for the bid. The workers of the company had also submitted an expression of interest for company as per the provision provided by new Act passed by the Parliament. However, the Ministry of Disinvestments allegedly did not respond to the bid of the workers. The coordination committee of the recognised worker unions of the NFL has served legal notice to the government in the matter.

Resentment also prevailed in the NFL workers regarding the government decision to wave off the condition that any private bidder for a period of five years cannot change the service conditions of the employees or sale the properties of the company.

The sources told that financial bids for the NFL are likely to open in the first week of September.

The NFL with its four plants located at Nangal, Bathinda, Panipat and Vijaypur in Madhya Pradesh was the second largest producer of the nitrogenous fertilizers in the country. Any of the above said fertilizer companies after the take over of the NFL would become leader in fertilisers market of the country.

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US firm to prepare BPCL accounts

New Delhi, August 8
The Inter-Ministerial Group (IMG) on disinvestment has approved the appointment of a US accounting firm for divestment of the government’s 25 per cent shareholding in BPCL through public float in the American share market.

The IMG, which met yesterday to review the progress of the government stake sale in oil refiners BPCL and HPCL, also decided to open the HPCL data room for suitors in the third week of July, official sources said.

Little & Co of the USA has been proposed to be appointed as the accountant to prepare BPCL’s accounts in compliance with the US GAAP (General Accepted Accounting Practicies) in the next three months.

“Technical due diligence of HPCL by official valuer is expected to be completed by mid-July after which due diligence by the shortlisted bidders will begin,” they said.

The IMG is also believed to have deliberated on comments received from some bidders on a government proposal to retain veto power with a nominal stake in HPCL where 34.01 per cent stake equity is being sold to a strategic partner.

In the draft shareholders’ agreement circulated to prospective bidders, the government has sought veto powers on 28 matters or businesses that can come up before the board for approval.

The government has also sought two board positions, so long as it holds 5 per cent share in the company’s equity, and one board position as long as it has one share in the company. — PTI

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Oil India not to be disinvested: Shourie

New Delhi, August 8
The government today informed Rajya Sabha that Oil India Ltd is not to be disinvested and its equity will not be reduced below 51 per cent in IOC, ONGC and GAIL.

“Oil India Ltd is also not to be disinvested,” Disinvestment Minister Arun Shourie said in a written reply when asked if there was any change in the disinvestment policy specially with respect to profit-making PSUs.

While denying there was any change in policy, Shourie said all non-strategic central PSUs, whether profit making or loss making, are to be disinvested.

“However, the government has decided that in the case of IOC, ONGC and GAIL, government shareholding would not be reduced below 51 per cent,” he added.

On whether Jessop Company Ltd disinvestment has been cleared by the Calcutta High Court, he replied in the affirmative.

“Jessop & Co Ltd Staff Association has filed a Special Leave Petition before the Supreme Court. No stay has been granted by the Supreme Court,” the Minister added. — PTI

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ROUND-UP

JCB to expand operations in India

New Delhi, August 8
JCB India, a 100 per cent subsidiary of $ 1.5-billion earthmoving equipment manufacturer, JC Bamford Excavators, is planning an aggressive marketing strategy to expand its presence in India.

The company announced a series of launch events and roadshows targetted at clients in Western India. Currently it is showcasing the JS 75 Excavator, the best in class dual purpose excavator in the 7 ton category across 40 locations in Gujarat and Maharashtra. The roadshows will be on for two months, August and September 2003. — UNI

HMT signs MoU with Bhabha Atomic

BANGALORE: Bhabha Atomic Research Centre (BARC), Mumbai, and HMT Machine Tools Limited today signed an MoU for the supply of high tech special purpose machines for BARC valued at Rs 3.56 crore.

B. Bhattacharjee, Director, BARC and M.S. Zahed, Chairman and Managing Director, HMT Limited, inked the pact here.

Mr Bhattacharjee expressed the hope that the knowledge base of BARC and the manufacturing expertise of HMT could be synergised further to reach greater heights in forging technology-based solutions. — PTI

Automaker BMW net falls 10 pc

FRANKFURT: Automaker BMW said today its net profit slipped by 10 per cent in the second quarter from the same period last year, blaming the drop largely on model changeovers that cut into sales.

Net profit for the April-June period fell to $ 568 million ($ 641 million) from $ 629 million a year ago, on revenues of $ 10.24 billion ($ 11.57 billion) — down 12 per cent from $ 11.60 billion in the same quarter of 2002. — AP

Rallis India to raise 88 cr

NEW DELHI: Tata Group company Rallis India Ltd will raise Rs 88 crore through issue of either fresh equity or debt.

The board of directors of the agrochemical company has approved raising of additional long term resources up to Rs 88 crore by issue of ‘appropriate securities’.

After Rallis had reported losses of Rs 77.27 crore for 2002-03 against a net profit of Rs 58.75 crore in 2001-02, the company has mounted a restructing exercise. — UNI

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BRIEFLY

Maruti Alto
Chandigarh, August 8
The Maruti’s Alto model has reportedly cleared the extensive 24-hour endurance test jointly conducted by Overdrive magazine and Maruti on August 2 and 3 at the Vehicle Research and Development Establishment (VRDE), Ahmed-nagar. Says Mr Ravi Bhatia, General Manager (Marketing), Maruti Udyog Ltd., “The aim of the test was to push the vehicle to its limits on a high-speed test track continuously for 24 hours. It was the first time an Indian car was being subjected to such a test.” — TNS

Corpn Bank
Bangalore, August 8
Corporation Bank has revised interest rates on Foreign Currency Non-Resident (B) deposits from today. With the revision, the interest rate for USD will be 1.15 per cent for the period of one year to less than two years (old rate 0.95 per cent), 1.95 per cent for the period for two years to less than three years (1.45) and for three years the rate will be 2.70 (2.10). In the case of Euro, for one year to less than two years, the rate will be 2.10 per cent (1.90), for two years to less than three years, the rate will be 2.55 per cent (2.20) and for three years, the rate will be 2.80 per cent (2.55). — PTI

Timex watches
Chandigarh, August 8
The Timex Watches Ltd has signed Mr Brett Lee, the Australian fast bowler, as its brand ambassador. Mr Kapil Kapoor, Regional Director, South-Pacific and Managing Director of Timex Watches India Ltd. said: “We expect an increase in our market share from 22 per cent to 33 per cent by 2004 in the Indian market.’’ — TNS

Centurion Bank
Chandigarh, August 8
Centurion Bank has launched mobile phone based ‘SMS Alerts’ banking, a value added premium service. Now, Centurion Bank customers with mobile subscriptions can get updated information on their bank transactions through Centurion Bank’s ‘SMS Alerts’ service. — TNS

Indo Rama
Chandigarh, August 8
Indo Rama Synthetics (I) Ltd demerged its spinning operations of Synthetic Blended Yarns into a separate company named Indo Rama Textiles Limited, as of April 1, 2003. The demerger, aimed at pursuing independent growth strategies within differing business dynamics. — TNS

Investors’ guide
New Delhi, August 8
Having sounded a ‘high alert’ on volatile movements in the market and to save small investors, SEBI Chairman G.N. Bajpai will launch a practical guide for household investors, prepared by the Delhi Stock Exchange, here tomorrow. — PTI

Sanjiv Garg
Chandigarh, August 8
Mr Sanjiv Garg, who has been appointed Vice-Chairman of the Punjab Agro Industries Corporation by the Punjab Government, today assumed the charge of his office. —TNS

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