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| MES builders give warm send off to CE Sawhney Excelsior Correspondent JAMMU, Nov 4: Shree Cement Limited, the largest cement company in the northern region organised MES builders meet at Hotel Asia here today.......more Temporary ban on NEW DELHI, Nov 4: The quick decision of the Government "temporarily" to ban onion export aims as much at keeping a check on the commodity’s prices as at preventing repeat of political toll the issue exacted when prices sky-rocketed in 1998....more Suzuki to set up Rs 200 cr NEW DELHI, Nov 4: Suzuki Motor Corporation of Japan has decided to invest Rs 200 crore to set up....more ‘Need for developing CHENNAI, Nov 4: HUDCO Chairman and Managing Director V Suresh has stressed the need for.....more |
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Punjab
relaxations in labour laws to boost trade, industry CHANDIGARH, Nov 5: In a bid to boost trade and industry in the state, especially the information........more
Pace of disinvestment CALCUTTA, Nov 4: Union Minister of State for Disinvestment, Planning and Programme Imple......more
FM admits drop in NEW DELHI, Nov 4: Finance Minister Yashwant Sinha today admitted for the first time that the ......more |
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MES builders give warm send off to CE Sawhney Excelsior Correspondent JAMMU, Nov 4: Shree Cement Limited, the largest cement company in the northern region organised MES builders meet at Hotel Asia here today. The Chief Engineer of the Region, Maj Gen Anil Sawhney (MES) was the chief guest on the occasion while Additional General Manager Marketing of the Company and other senior functionaries were also present. The meeting was presided over by Mr H N Kashyap, chairman of the Association. The office bearers of the MES Builders Association, Jammu also attended this crucial meet. Builders from Punjab and parts of Himachal were also present. The main purpose of the programme was to accord warm send off to the outgoing Chief Engineer MES Mr Sawhney and to introduce the builders about the quality of the cement and impress upon them to provide participation to the Shree Cement in the national building projects. The incoming Chief Engineer, Maj Gen J D S Bedi who was also supposed to attend the meet could not make it due to unavoidable circumstances, one of the organisers said. Mr Vivek Mathur, AGM (Mkt) gave brief account of the success of the company and its grades as well. He disclosed that company with its main plant at Beawar in Rajasthan has come up as first in this part of the region with annual production to the tune of 80 lakh tonnes per annually. The builders also raised their problems with the senior members of the Association and other functionaries of the MES engineering and construction wing, including the Chief Engineer. Some suggestion also poured in from different quarters. Later, a farewell was accorded to the outgoing Chief Engineer. This programme was organised/ sponsored by the Shree Cement company. |
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Temporary ban on export of onion due to spurt in prices NEW DELHI, Nov 4: The quick decision of the Government "temporarily" to ban onion export aims as much at keeping a check on the commodity’s prices as at preventing repeat of political toll the issue exacted when prices sky-rocketed in 1998. Alarmed over the sudden spurt in onion prices by Rs 200 per quintal during last week, National Agricultural Co-operative Marketing Federation of India Ltd (NAFED),the apex exporting agency, not only banned export on Thursday but instructed all its six canalising agencies to immediately halt shipment of the commodity abroad. Consequent to the NAFED’s hurried decision, shipment of around 62,000 tonnes of onion abroad was stopped. Onion prices are "normal" between Rs 300 to 400 per quintal in the wholesale market. But they rose to around Rs 600 per quintal in the third week of last month and continued to register an upward trend, reaching around Rs 900 per quintal last week with retail prices touching Rs 12-13 per kg. NAFED Managing Director Priyadarshi Thakur said the step was taken in "public interest to stablise onion prices in the domestic market". The export has been "suspended temporarily" to make onions available to consumers at reasonable prices, he said. "We wanted to strike a balance between the interests of both the consumers and producers (of the commodity)," he hastened to add with regard to the move that is likely to irk the producer lobby. The ban could be lifted if the market review, scheduled to be conducted on November 15, showed stabilisation of prices, Mr Thakur assured. The NAFED official said the onion prices sprilled because of delay in the arrival of kharif crop due to untimely rains. In 1998, onion prices crossed the threshold of Rs 10 per kg, touched Rs 25 per kg and then sky-rocketed to an alarming Rs 50 per kg in the retail market. After that tearful experience, the Government introduced the quota system for onion export and allotted an export quota of 2.5 lakh tonnes to NAFED in April this year. But, according to official sources, NAFED had issued ‘no objection certificate’ for the export of only 1.87 lakh tonne of onion so far. For the past several years, India has been exporting around five lakh tonnes of onion, worth Rs 300 crore, every year. India produces around 50 lakh tonnes of onion in three crops spread over the year. While the kharif crop season spans October to December and late kharif January to March, the main rabi crop is grown between April and June, accounting for 60 per cent of the total annual production. Among the three main onion producing states, Maharashtra tops with 28 per cent of the annual produce, followed by Gujarat at 12 per cent and Karnataka at 10 per cent.(UNI) |
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Suzuki to set up Rs 200 cr die casting unit in India NEW DELHI, Nov 4: Suzuki Motor Corporation of Japan has decided to invest Rs 200 crore to set up a die casting unit at Manesar, Haryana as part of its future expansion plans in India. In addition, the company is also planning to hike the production capacity at its joint venture company Maruti Udyog Limited (MUL) to six lakh units. This was stated by PHDCCI president K S Mehta who has returned from a recent visit to Japan, where he held meetings with senior officials from Suzuki. Suzuki owns 50 per cent stake in Maruti, while the remaining is held by Government of India and employees of MUL. He also met with officials from Honda Motor Company, which proposes to set up a Rs 700 crore export base station for South Asia in Gurgaon. This will be in addition to the Rs 500 crore project it has already set up to produce two-wheelers. Mr Mehta stated that a number of business enterprises in Japan, South Korea and Singapore have evinced interest in making investment, especially in information technology, IT training, automobile and auto components, power, agro and food processing, environment and pollution control, road building, water and water management. Mr Mehta, who headed the delegation, said these countries beset with recession were looking at India as an attractive investment destination. However they would like certain bottlenecks such as cumbersome infrastructure deficiencies clearance procedures and local area development taxes to be removed. The other companies interested in doing business with India include Hanjug of South Korea, which is exploring the possibility to develop Yamuna Nagar Power Project. YKK another firm would be making further investment of Rs 82 crores in the existing plant in Bawal and convert it into an export base. Mr Mehta said that Miti in Japan has set up three working groups inthe area of information technology, infrastructure and food processing to promote co-operation with India. Jurang Town Corporation International (JICI) has agreed to become investor and consultant in power project for dedicated power supply for the Gurgaon-Manesar industrial estate. Jetro, Mr Mehta said would be hosting in Japan Haryana Investment Promotion Conference to promote technology transfer and market tie ups in focus areas mainly food processing. It technology, infrastructure and engineering. The delegation found the Government-industry partnership of common characteristic, which has led to the success in economic development in these countries. (UNI) |
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‘Need for developing modern system of land registration’ CHENNAI, Nov 4: HUDCO Chairman and Managing Director V Suresh has stressed the need for developing modern system of land registration and administration to ensure transparency in the corruption-ridden real estate sector. Delivering the key-note address at a seminar organised by HUDCO and National Real Estate Development Council (NAREDCO) yesterday, he favoured the torrens title system followed in Australia vis-a-vis the deeds system of registration being followed in the country. He said while the deeds system required the owner to keep a chain of deeds to prove his claim on the land and the authenticiy was the weakest link, the torrens system maintained a single title document providing private rights recorded as part of the deed. This, in effect, guarantees the title to land, he added. Land registration system needs to be more customer-oriented as the thrust on economic liberalisation would see a large number of players, including those from abroad, coming into the real estate and construction arena. He also called for rationalisation of stamp duties to ensure transparency in real estate dealings. This was also necessary for the development of secondary mortgage market based on securitisation of assets. States like Maharashtra and Madhya Pradesh have reduced the stamp duties considerably, resulting in increased transparency in land deals, he added. Mr Suresh said the authorities should create checks and balances to prevent unethical practices and not deviate from procedures and permit illegal constructions. Local bodies and sanctioning authorities should initiate steps to simplify procedures and expedite the sanction process to effectively ward off corruption. Better customer service could be ensured by delegation of authority, an information system for tracking file movement and setting up of time frames for sanction, he said. He said the professional associations of architects, engineers, surveyors and valuers must frame and implement a code of conduct and model contract agreements and accept the criteria of professional fees. Mr Suresh said NAREDCO, which was set up to improve the confidence level of investors and consumers in the sector, had developed a rating system of real estate projects based on the ability of the developer to meet the demands of quality, time and ability to provide a clear title to the customer, track record of the developer, organisational risk, financial position and financial flexibility and management evaluation, he said. (UNI) |
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Punjab relaxations in labour laws to boost trade, industry CHANDIGARH, Nov 5: In a bid to boost trade and industry in the state, especially the information technology sector, the Punjab Government today announced relaxations in provisions of various labour laws and declared IT industry as "public utility service". Briefing mediapersons here, Labour and Employment Minister Balramji Dass Tandon said the relaxation package aimed at creating a pro-labour intensive industry atmosphere rather than the present tilt towards capital intensive units on part of entrepreneurs who feared stringency of labour laws. The move would thus help create more employment opportunities in the state and enable the labour add to their income, the minister said. Stringency of as many as 27 union and state labour laws had hampered industrial progress in Punjab, he said adding that industry and labour were complimentary to each other. For the development of IT industry in the state, Mr Tandon said relevant sections of the Industrial Disputes Act of 1947 had been amended to enable the Government to declare such industries and software establishment as "public utility service". This step aims at avoiding the possibility of flash strikes in such units. Henceforth service-oriented it units would be allowed to deploy women workers in two shifts, thus increasing employment avenues for them, he said adding working hours in IT industry sector had been allowed to be increased from nine to 12 hours a day and from 48 to 60 hours a week. Similarly, overtime limit had been raised from 60 hours a quarter to 75 hours a quarter. Mr Tandon also declared exemption from Section 9 and 10 (1) of the Punjab Shops and Commercial Establishment Act of 1958 to shops and business concerns not employing labour. There shall be no fixed opening and closing hours and close day with regard to all such establishments, he said. The minister said field officers had been instructed that there shall be only one inspection of an establishment in a particular year. The inspection under all labour laws shall be conducted during a single visit of the field staff at any establishment. Instructions have also been given that there should be only one challan of an establishment under the same act rather than many challans for various violations. Every establishment would be required to maintain a common inspection book regarding inspections under all labour laws, Employees’ State Insurance Act and Employees’ Provident Fund Act. Mr Tandon said two separate agencies, namely the competent state authority and site appraisal commitee, giving site approval for medium and large industries and hazardous units, have now been merged into a single entity known as competent state authority-cum-site appraisal commitee. (UNI) |
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Pace of disinvestment still slow: Shourie CALCUTTA, Nov 4: Union Minister of State for Disinvestment, Planning and Programme Implementation, Arun Shourie has admitted that the pace of disinvestment was still slow and said it would get momentum soon. You will see very strategic changes by April-May, he said. Addressing the members of Indian Chamber of Commerce here last night, he said Prime Minister Atal Behari Vajpayee was taking a very keen interest in this crucial matter in connection with the current process of economic liberalisation. He indicated that some major decisions were in the pipeline and it could be taken up at the cabinet meeting likely to be held on November 11. Mr Shourie said greater emphasis would be laid on the quality of public expenditure and observed that there was a change in the total perception on the issue of disinvestment and added that most hurdles had been crossed. He said it was impossible to keep alive mini-organisations who keep making losses every year and waste public money. He felt there was a need for a change of balance between the Government and the industry and observed that the state could not afford to spend money on wasteful exercises. Mr Shourie said the overall situation throughout the world was changing very fast. He said new products could not maintain its market for not more than 14 to 16 months while new technology goes to waste within 32 to 36 months and observed that nobody is going to wait in this heartless world . He said monopoly position of different organisations including those of public sector were being eroded and the ‘cry of so called anti-people policy would not really make any sense’ in the hard reality of the world. (AGENCIES) |
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FM admits drop in growth, says
Govt NEW DELHI, Nov 4: Finance Minister Yashwant Sinha today admitted for the first time that the growth rate would drop by one per cent, but said Government would adopt a four-point strategy to reverse the trend. Projecting a growth rate fall to 5.8 per cent from the estimated 7 per cent in the current financial year, Sinha said the strategy would be to contain fiscal deficit, increase exports, push up reforms and ensure a transparent public administration. But the positive aspect is that even on a 6-5.8 per cent growth rate concerns are being expressed. This is a good sign that expectations have gone up in recent years as compared to the time when the country was achieving a hindu rate of growth, he told the seminar on ‘civil services and the Constitution’ here. He said the Government was also committed to see that increased growth was accompanied by the other social objectives of eliminating poverty and generating more employment. The Finance Minister laid more emphasize on exports to boost growth in the economy saying India has to explore new markets for its products in the international arena. He said the Indian economy was not inert to changes in other parts of the world like those in Latin America and South East Asia. Expressing seriousness about carrying out the reforms process, he said the Government would introduce the fiscal responsibility bill in the Winter session of Parliament. We also have to ensure transparent public administration, he said, adding people are not going to be satisfied with slogans and assurances. We have to deliver the goods as fast as possible,. Sinha said a Constitution Review Commission would be set up to suggest major changes in legislations in order to improve the functioning of the Government. (PTI) |
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India eyeing global tuna fish market BEIJING, Nov 3: India is eyeing the global tuna fish market by proposing to undertake largescale harvesting of the fish around the Lakshwadeweep islands which could rake in millions of dollars in exports. "We are working on a plan to exploit the availability of tuna fish around Lakshadweep islands so as to expand our marine export basket," chairman of the Marine Products Export Development Authority (MPEDA), K Jose Cyriac, told PTI here. The global demand for tuna, a high-value export item, is comparable to shrimp but India has only a .001 per cent share in the world market, Cyriac, Fisheries and Seafood Expo 2000,’ Asia’s largest fisheries exhibition, said. MPEDA is launching a plan to popularise tuna fishing by offering to take on about 50 per cent of the cost of deep sea fishing which requires imported technology known as ‘monofilament technique.’ "We hope to make a small dent in the world market for tuna," he said and added that the indot depend on shrimp alone for foreign exchange. MPEDA has succeeded in getting the trawlers’ associations involved in the venture by permitting trawlers fitted with imported nets to harvest tuna fish, Cyriac said. He said MPEDA is scouting for foreign trainers who could teach Indian trawler operators the complicated technique of operating it. On the performance of India’s marine exports, he said the sector was doing extremely well thanks to the high demands for the products, especially shrimp. In 1999-2000, India’s marine exports was worth 1.19 billion US dollars, up seven per cent over the corresponding figure in 1998-99. During April-September this year, the exports hit 673 million dollars, up 27 per cent over the same period last year. The US market warmed up to Indian marine exports with the six-month figure rising by a 65 per cent in value. Indian exports to US alone was worth 85 million dollars during April-September this year compared to 85 million during the corresponding period in 1999, Cyriac said. Exports to Japan and Europe were up by 17 per cent in the first six months of last year. While the sea and acquaculture farms remains the main source of marine food products, the latter made up to 72 per cent while the yield from the sea accounted for only 28 per cent of the total volume, Cyriac said. Acquaculture farms produce high value and better quality shrimps, he said while noting that India’s black tiger shrimp was highly acclaimed the world over. However, he said India’s marine industry was lagging behind when it comes to value addition. He said lack of adequate processing and marketing facilities also resulted in the country’s poor showing as less than 15 per cent of India’s marine exports are in the form of value added products while only 15 to 20 per cent is ready for the consumer for immediate use. He said that it was a cause for concern that countries like China, Thailand, Indonesia and Vietnam were importing marine products from India in block-frozen form and re-exporting them after value addition. "We need big players and well-known brands" to promote products internationally, Cyriac said. (PTI) |
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