 |
Tuesday,
September 2, 2003, Chandigarh, India  
|
Trade deficit widens
No
shortage of apple boxes, says minister
Govt plans law on agri-marketing
Quark to set up IT park in Ropar |
|
|
Maruti sales dip 4.2 pc in August
Cell operators cannot offer VMS without consent |
|
|||||||||||||||||||||||||||||
|
SC adjourns hearing on HPCL, BPCL privatisation
UTI Bank retail portfolio
to grow to 23 per cent
LIC relaunches Jeevan Shree-I
Indian pharma industry hails WTO drug deal
‘Bagful of offers’ campaign from
IOC
|
|
Trade deficit widens New Delhi, September 1 According to a official figures released here today, exports during April-July period of the current financial year amounted to $ 17,783.73 million showing a growth of 9.29 per cent over the corresponding months of last fiscal. The growth rate in the period was much less than the 18.12 per cent growth registered during the corresponding period of 2002-03. Imports during the period under review went up by a whopping 22.73 per cent pushing the trade deficit to $ 4936.17 million from $ 2240.96 million. Non-oil imports grew at a much faster rate of 29.03 per cent than the oil imports which went up by 7.72 per cent. Exports during July this fiscal at $ 4688.35 million grew only by 5.75 per cent against an impressive growth of 29.16 per cent in the same month last year. The slow growth in July was explained by the government on a higher base. Imports during July were valued at $ 5701.94 million representing an increase of 17 per cent over $ 4873.60 million in the same month last year. Oil imports during April to July 2003-04 were valued at $ 5899.11 million which 7.72 per cent higher than oil imports valued at $ 5476.51 million in the corresponding period last year. Non-oil imports during April to July 2003-04 are estimated at $ 16,820.79 million which is 29.03 per cent higher than the level of such imports valued at $ 13,035.98 million in April to July 2002-03.
|
|
No
shortage of apple boxes, says minister Shimla, September 1 In a statement here today he said over 90 lakh apple boxes had been sent to the market so far during the current season as against about 62 lakh boxes sent last year. He said 22,350 trucks had been made available as against 16,000 during last year. Mr Ram Lal Thakur said Agro Package India Ltd had manufactured and sold 27.23 lakh cartons, besides 37 lakh cartons were procured from the private manufacturers. As many as 8.40 lakh wooden boxes had also been made available to growers so far. The boxes and cartons being managed by the growers from the markets were in addition to this. The Industry Minister said all 272 apple collection centres had already been made functional and as many as 5,739 metric tonnes of apple had already been procured in the state under the Market Intervention Scheme. The government was reviewing the position with regard to supply of cartons, boxes, availability of trucks from time to time and the Chief Minister, Mr Virbhadra Singh, was monitoring the situation. He
took a strong notice of the threat of BJP leaders to launch an agitation
on this issue. |
|
Govt plans law on agri-marketing New Delhi, September 1 Speaking at the National Seminar on Reforms in the Land Policy here, Agriculture Secretary R C A Jain said it was felt that there was a need for creating an institutional framework which would help in dispute settlement, besides promoting contract farming in the country. Underlining the advantages of the contract farming model, he said it empowered the small and marginal farmers by providing easier access to technologies and greater marketing support. Mr Jain said the objective should be to allow free movement of agricultural produce in contract farming areas without intervention by any intermediaries. Removing the ban on land leasing would lead to more optimum utilisation of land and other factors of production, including labour. The Agriculture Secretary also recommended the establishment of land share companies. Such a concept would allow all farmers, especially small and marginal, to become shareholders of the company proportionate to the size of their land holdings.
|
|
Quark to set up IT park in Ropar Ludhiana, September 1 Disclosing this the Chief Minister, Capt Amarinder Singh said at Payal yesterday that the mega IT project will generate over 1 lakh jobs. In fact the Quark alone will be providing about 1 lakh jobs, while the other companies will provide the extra jobs. The Chief Minister clarified that this would be in addition to what Quark has already set up in Mohali. Modalities of the project are being worked out. Recently, the Managing Director of the Quark, Mr Fred Ibrahim, met him in Patiala. He said that the memorandum of understanding between the Quark and Punjab Government would be signed in October. Capt Amarinder maintained that after finding a congenial and investment friendly atmosphere in the state, Quark felt encouraged to invest more in the state. The government has guaranteed all sort of facilities to the company, including the infrastructure and other requirements. He disclosed that besides providing jobs, the Quark will also pay about Rs 800 crore in the shape of various taxes to the government. He pointed out it was only after a comparative study that the Quark decided to make large-scale investment in Punjab. This should restore the trust of other companies in Punjab once again. The Chief Minister said some other major companies were in constant touch with his government and they were also willing to come to Punjab with large-scale investments. He hoped that by the end of this year some more companies would also come up with final proposals. However, he refused to divulge the names of these companies. Capt Amarinder revealed that after the state government dispensed with the free power to farmers in the state, the World Bank and other international funding agencies had resumed their aid to Punjab. He pointed out that now the financial
institutions were convinced that the money they were sending was not being doled out through populist measures. |
|
Maruti sales dip 4.2 pc in August New Delhi, September 1 Total sales of MUL in August 2003 stood at 32,127 units against as compared to 33,537 vehicle units in August 2002. The company has attributed the decline to the strike at its major vendor DCM Engineering. MUL said production was affected due to the strike at DCM Engineering which supplies the bulk of the requirement of an important engine component. “Although alternative arrangements are being made, a shortfall with respect to our requirement continues. Efforts are on to increase the manufacturing capability of our alternative suppliers and enable them to supply higher quantities of the component to us”, the company said. In the company’s flagship brand Maruti 800 model, sales fell by 11.5 per cent. During the month the company sold 11,999 units against 13,562 units in the same month last year. In the A2 segment, which gives the combined sales of Alto, Zen and Wagon R, the company’s sales stood at 11,847 units against 11,275 units last August. Uptrend in
motor cycle sales
Motor cycle sales in the country continued to show an upward swing with all major companies like Hero Honda, Bajaj Auto, TVS Motors and LML reporting higher sales figures over the last month. The highest sales growth was recorded by LML Ltd which saw a massive 126.5 per cent jump to 15,496 units in August this year against 6,843 in the same month a year ago on the back of its largely-popular Freedom model. Having introduced new variants this year the company is hoping to tide over the problems it had faced after the dip in the sales of its scooters through the sales of its motor cycles. Country’s biggest motor cycle maker Hero Honda Motors Ltd also recorded higher sales figures with 145,730 units being sold in August which were 6.17 per cent higher from 137,264 bikes it sold a year ago. The second-largest motor cycle maker Bajaj Auto Ltd said its August sales jumped 16.8 per cent to 76,487 units against 65,475 units in the same month a year ago. “In the premium segment, the Pulsar model recorded a sale of 29,000 units (117 per cent increase over 13,376 clocked in August last year) while in the executive segment, Caliber 115 and Wind 125 together accounted for over 23,500 units (up by 110 per cent compared to same period last year),” the company said. The third-biggest motor cycle company TVS Motor company said motorcycle sales clocked 6 per cent growth, largely driven by TVS Victor’s sales, in the month to 62,234 units against 58,636 units of the same month last year. “TVS Victor’s sales continue to dominate in this segment and has notched up sales in excess of 600,000 since its launch 23 months ago,” the company said in a release. It said market share was expected to increase following the increased penetration in the northern and western markets of its recently-launched Fiero F2. |
|
Cell operators cannot offer VMS without consent New Delhi, September 1 In a statement issued here TRAI said that it had received complaints from cellular phone users that some mobile operators are charging for Voice Mail Service (VMS) without their consent. “The mobile service providers should discontinue the VMS with immediate effect and ensure compliance to the authority within five days starting September 1,” TRAI said. TRAI said in the letter that it had received complaints from mobile users that some operators are offering voice mail service without taking their consent. In case of some CMSPs, although voice mail services did not accrue a monthly charge, the called party had to pay charges on retrieval of these messages. “This has also resulted in payment of call charges by calling party even where the called party does not choose to access his voice mail,” it added. |
|
SC adjourns hearing on HPCL, BPCL privatisation
New Delhi, September 1 A Bench comprising Justice S. Rajendra Babu and Justice G.P. Mathur granted the adjournment after a brief but lively exchange of arguments between the Government and petitioners. The petitioners, who challenged the
disinvestment process in the oil sector saying it was in the strategic sector, included the Centre for Public Interest Litigation, All India HPCL SC/ST Employees Welfare Association, BPCL SC/ST Employees Association and Oil Sector Officers Association. Appearing for oil PSUs, senior advocate Harish Salve assailed the action of the officers in the oil sector alleging that they had prevented the process of privatisation even when there was no stay of the process. Appearing for the Officers Association, senior advocate Fali Nariman said that the government and the Minister concerned should not have gone ahead with the process knowing fully well that the matter was coming up before the apex Court shortly. —
PTI |
|
UTI Bank retail portfolio to grow to 23 per cent Mumbai, September 1 “The growth will be mainly due to expectations of a robust retail market in the country, with the major drivers being housing and automobile finance sectors,” UTI Bank Chairman and Managing Director P.J. Nayak told reporters here today at the launch of a travel currency card. Meanwhile, UTI Bank launched a US dollar denominated pre-paid travel card, ‘Travel Currency Card’, which enables travellers to access money in the local currency of the nation they are visiting. The card can be used at over 8.4 lakh visa and other ATMs and at around 13 million Point of Sales terminals worldwide for making purchases or withdrawing cash, he said. —
PTI |
|
LIC relaunches Jeevan Shree-I Chandigarh, September 1 Addressing a press conference, she said,” with lowering of premium rates and retention of the guaranteed addition for initial five years, the scheme is expected to generate interest and positive response from the public.” She said the accidental benefit would also be a available under the plan up to a maximum of Rs 25 lakh subject to payment of additional premium. The division has achieved a record of zero outstanding as far as the total claims were concerned. It had paid over Rs 163 crore worth claims in 97,105 cases to the policy holders during the last financial year. During the same time, she said, the LIC Chandigarh division had sold 1,80,931 individual polices worth Rs 1622 crore and collected Rs 60.89 crore as first premium. Meanwhile 1485 single premium polices worth Rs 14.54 crore sum assured were sold and Rs 12.78 crore was collected as first premium, she added. |
|
Indian pharma industry hails WTO drug deal
Mumbai, September 1 Commenting on the WTO deal, leading pharmaceutical consultant and Pharmaceutical & Allied Manufacturers and Distributors’ Association (PAMDAL) President Devindar Pal said the move will give a fillip to Indian drug manufacturers. “Though the idea sounds good, the deal mentions only specific diseases such as TB, HIV and other endemic ailments.” —
UNI |
bb
Bajaj Wind 125 Havell’s ICICI Ventures Shiva Cement Parryware Hind Lever XPS Cargo Nabard |
 |
| Punjab | Haryana | Jammu & Kashmir | Himachal Pradesh | Regional Briefs | Nation | Editorial | | Business | Sport | World | Mailbag | Chandigarh Tribune | Ludhiana Tribune 50 years of Independence | Tercentenary Celebrations | | 123 Years of Trust | Calendar | Weather | Archive | Subscribe | Suggestion | E-mail | |
