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| BIFR needs 6
more members NEW DELHI, Dec 9: In order to manage its over
1,000 pending cases, the Board for Industrial and
Financial Reconstruction (BIFR) needs six more members,
BIFR sources said. . ..more COLOMBO,
Dec 9: Delegates
and observers from India and other South Asian countries
will deliberate upon their experiences.....more HISAR,
Dec 9: Haryana
Government has embarked upon an ambitious power reforms
plan over the next eight to ten years, involving an
expenditure of ....more GANDHINAGAR, Dec 9: Gujarat would mop up additional Rs 400 to 500 crore of sales tax if the Centre makes it compulsory for industries to produce the . ..........more |
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Huge investments
needed in railways to meet demand: PM NEW DELHI, Dec
9: Prime Minister
Atal Bihari Vajpayee today said the mandate of taskforce
on infrastructure will be enlarged to formulate an
integrated national transport policy that would combine
all modes of transport. . .....more NEW
DELHI, Dec 9 :
Parliament today approved a Bill making changes in
royalty payments for attracting foreign direct investment
in oil exploration with the Rajya Sabha returning. ......more |
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NEW DELHI, Dec 9: In order to manage its over 1,000 pending cases, the Board for Industrial and Financial Reconstruction (BIFR) needs six more members, BIFR sources said. "Only two members were appointed recently to clear the backlog of pending cases when the Board needs to function at its full sanctioned capacity of eight members and a chairman or four benches," the sources told UNI. The Government recently appointed retired secretary P.P.Chauhan and former chairman of Andhra Bank G Narayanan as members for a five year term. "BIFR now has only one working bench with two members which can clear about 100 cases a year. This is woefully short to clear its vast backlog. The Board needs six more members to work at its full capacity," the sources added. As on November 1998, BIFR had as many as 682 cases for inquiry and more than 400 cases to monitor. Apart from the high number of sick companies under BIFR, the stakes in terms of workers and investment involved in these units are high. In the 65 Central Public Sector Units and 87 state units with a net worth of about Rs 6,000 crore registered with the Board, there are over six lakh workers involved. The accumulated losses account for over Rs 16,000 crore. In the nearly 2000 private companies with a net worth of Rs 7,098 crore and accumulated losses of Rs 14,633 crore registered with BIFR, there are over 6.7 lakh workers, according to the Board’s estimates. The sole bench working till September 25, 1998 after which BIFR was headless, could clear as many as 128 cases. Each bench is estimated to manage about 200 cases every year. "If this tempo is maintained by four benches, the BIFR can hope to bring the pending cases within manageable limits in two to three years," the sources said. With the recent appointments, the bench has started working and a semblance of activity revived after more than two months of inactivity since November 1, 1998 in the Board, which was set up in 1987 to inquire and recommend measures on sick companies. "Though the sick BIFR is limping, it is nowhere near normal health," sources quipped. "If the Government is serious in winding up unviable sick PSUs and restoring the sick private companies, BIFR needs members appointed for a long term as they would require no less than six months to acclimatise to the working here," they added. Under the Sick Industrial Companies (special provisions) Act, 1985, the Board is authorised to function with four benches with two members each. The Act provides that the board shall consist of a chairman and a minimum of two and maximum of 14 members. The present sanctioned strength, however, is chairman and eight members. With lack of quorum in BIFR, the number of hearings has also fallen sharply from 1,516 in 1996 to 886 in 1997. (UNI) |
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COLOMBO, Dec 9: Delegates and observers from India and other South Asian countries will deliberate upon their experiences and views of the development effectiveness of large dams at the two-day hearing of the World Commission on Dams, beginning here tomorrow. More than 30 participants mainly from India, Nepal, Pakistan, Bangladesh and Sri Lanka are due to attend this unique event, first in a series of hearings the independent commission plans to hold as part of its two-year mission to assess the development effectiveness of large dams. According to Commission secretariat, the purpose of these hearings is for the commissioners to hear directly from different interest groups, including people’s organisation, policy makers, academics and project developers. The Colombo hearing will look specifically into the issue of "large dams and their alternatives in South Asia: experiences and lessons learned". The hearings will bring together interested parties from all over South Asia who will also use the opportunity to share experiences and views among themselves. The Conference was originally scheduled to be held in India in September last but some last minute objections forced the Commission to change the venue. The Commission will formally submit a report with recommendations to the international community as well as to the president of the World Bank. The report is expected to propose internationally acceptable criteria and guidelines for planning, designing, construction, operation, monitoring and decommissioning of dams. (UNI) |
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Haryana Govt embarks upon power reforms plan HISAR, Dec 9: Haryana Government has embarked upon an ambitious power reforms plan over the next eight to ten years, involving an expenditure of Rs 7,9000 crore, Minister of State for Power and Public Relations Attar Singh Saini has said. Addressing a district level workers meting here on Monday, Mr Saini said the project would be funded by loans from International Financial Institutions like the World Bank, CECF (Japan), DFID (Britain) and CIDA (Canada) the World Bank had already released its first installment of Rs 240 crore of the loan and would release second installment of Rs 1,100 crore on April one next the World Bank loan would be repayable in 18 years with three years moratorium, he said. The minister said rehabilitation of transmission, distribution network and renovation of existing thermal plants were envisaged in the reforms plan. Besides 75 new sub-stations, would be set up to raise their total to 473 and the capacity of 74 existing sub-stations of various levels augmented, he said. With the second installment of the World Bank 53 new sub-stations would be constructed, he said. Mr Saini claimed that since the Bansi Lal Government assumed office on May 12, 1996, 26 new sub-stations had been constructed and capacity of 115 existing ones was augmented. Transmission lines of about 540 km length to feed sub-stations had been erected during this period about 1,575 mva of additional power was generated by enhancing their capacity, he said. He said to strengthen power distribution system 70,000 additional distribution transformers would be installed, besides erecting 12,000 km long additional II kv lines. Refurbishment of 58,660 km long 99 kv and low tension distribution was also proposed under the plan. He said that Haryana Power Regulatory Commission had been given vast powers and its functions included advising on matters concerning electricity generations, transmission and distributions in the state. However the power to issue policy directives had been retained by the State Government. He said that the Government was confident that all categories of consumers in Haryana would get round the clock powers supply by next year. The Haryana vidyut Prasaran Nigam had already maintained a round the clock supply last month successfully on trial basis, he said. He said that the Government would continue supplying power to farmers at subsidised rate of 50 paise per unit. Agriculture being the mainstay of the state’s economy. Over 50 per cent of available power was being given to rural sector, he said. According to him short term and long term plans had been prepared to increase the installed power generation capacity and 1,279 mw would be added by next year to the existing 863 mw capacity build up during the past 32 years. (UNI) |
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GANDHINAGAR, Dec 9: Gujarat would mop up additional Rs 400 to 500 crore of sales tax if the Centre makes it compulsory for industries to produce the sale receipts of their products from their place of production. Talking to reporters here, Gujarat Finance Minister Vajubhai Vala said the bill of many products, produced in the state, is drawn from the union territories of Diu, Daman and Dadra Nagar Haveli. Industrialists get exemption in sales taxes because of this practice. If it is made compulsory to submit the bill from the place of production, Gujarat will get additional Rs 400-500 crore from Sales tax per year, he added. Gujarat has also requested the Centre to impose sales tax in union territories too, he said. (UNI) |
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Huge investments needed in
railways NEW DELHI, Dec 9: Prime Minister Atal Bihari Vajpayee today said the mandate of taskforce on infrastructure will be enlarged to formulate an integrated national transport policy that would combine all modes of transport. "It (the policy) will combine our existing rail, road and inland transport systems and link them with our ports and airports", he said inaugurating an international seminar on "transport policy-environment and energy issues". Vajpayee said work on the 7,000 kilometre mega highway project running north to South and East to West will start soon as part of efforts to improve the transport infrastructure. "We should talk not just of expressways, highways and railways but also of `transportways’ where excellent modern roadways, inland waterways, coastal shipping, pipelines and railways will combine to provide cost-effective, energy efficient and eco-friendly solutions to customers", he said at the seminar jointly organised by Indian Railways and International Union of Railways (UIC). Stating that there was a substantial gap between achievement and demand despite commendable progress made in expanding and modernising the railway network in the last five decades, Vajpayee said, Government wanted private investment-both domestic and foreign in infrastructure. Vajpayee said an appropriate framework for innovative financing, execution and management of railway and other transportation projects was needed to attract domestic and foreign private investments in the sector. "I believe we should learn from international experience in this regard. Similarly, Indian Railways should also share its considerable expertise with other nations", he said. The Prime Minister said identification and development of alternate sources of energy for transport and improved energy efficient and eco-friendly transport systems had become immediate technological necessities. "I am sure that any long term policy will consider the Railways’ inherent strength in these areas", he said. The transport scenario throughout the world was set to change considerably due to increased urbanisation, leading to integrated transport services, he said. "Inter-urban an Intra-Urban Transport Services will also change as more people will travel - both for work and for recreation. Information technology will have a big impact on transport management", he said. But one should not forget the transportation needs of rural, backward and hilly tracts and planning should be done to meet their requirements also, Vajpayee said. (PTI) |
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Parliament approves oil fields Amendment Bill NEW DELHI, Dec 9 : Parliament today approved a Bill making changes in royalty payments for attracting foreign direct investment in oil exploration with the Rajya Sabha returning the measure with a voice vote. The Oil Fields (Regulation and Development) Amendment Bill, 1998, was passed by the Lok Sabha last week. Replying to a discussion on the money bill, Petroleum Minister P Ramamurthy assured the house that the government would continue to hold majority stake in the two national oil companies — Oil and Natural Gas Corporation (ONGC) and Oil India Limited. Though government was committed to divesting its equity in the two companies, it would continue to hold controlling equities, he asserted. Ramamurthy also allayed fears that multinational companies would dominate the oil sector and said the ONGC and oil would be given oil blocks for exploration "wherever they want". This measure is an enabling Amendment Bill to the New Exploration Licensing Policy (NELP) under which the government proposes to initiate bids for both onshore and offshore. He said the Bill was aimed at empowering the government to adjust royalty rates for mineral products under different conditions besides powers to grant exemptions from royalty in cases where exploration failed. (PTI) |
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Govt to set up Hydro-carbon Regulatory Authority NEW DELHI, Dec 9: The Government has decided to set up a Hydro-carbon Regulatory and Development Authority and a Bill for this purpose will soon be introduced in Parliament, Petroleum Minister V Ramamurthy announced today. Replying to the debate on the Oilfields (Regulation and Development)Amendment Bill in the Rajya Sabha, Mr Ramamurthy said the Cabinet had already given its approval to the proposal for setting up the authority. Later,the Bill got Parliamentary approval with the Rajya Sabha returning the Legislation as passed by the Lok Sabha.The House also rejected a statutory resolution disapproving the Bill,moved by Mr J Chittranjan (CPI). The Petroleum Minister said the proposed authority would look into all aspects of hydro-carbon development,except licensing. He rejected a suggestion for setting up a licensing authority in the hydro-carbon sector on the lines of such bodies in the telecom and highway sectors.The exploration of the country’s wealth must remain in the hands of the government,he added. Mr Ramamurthy informed the members that the centre in consultations with the states had fixed royalty for onshore exploration of oil at 12.5 per cent,shallow at ten per cent and deep water at five per cent. He said it had also been decided that the royalty could be fixed as and when desired by the centre and the states,instead of following the practice of fixing it every three years. Mr Ramamurthy sought to dispel the members’ impression that public sector undertakings were being privatised.None of the public sector undertakings under the Ministry would be privatised but the government would go ahead with disinvestment. In the context of rising prices of petroleum products,he said the government was giving a subsidy of Rs 7,200 crores on kerosene and Liquified Petroleum Gas (LPG)."Whatever we are earning by hiking the prices of petroleum products and the turbine fuel is compensated for subsidy". Mr Ramamurthy said that under the new licensing policy,even the Oil and Natural Gas Corporation (ONGC) and the Oil India Limited would have to participate in the bidding process for exploration. The members who participated in the debate on the Bill included:Mr Dipankar Mukherjee (CPI-M),Mr Viduthalai S Virumbi (DMK), Mr R Margabandu (AIADMK),Mr Brahm Kumar Bhatt (Cong) and Mr Dutt Yadav (SP). (UNI) |
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