50 pc duty likely on wheat import
NEW DELHI, Dec 16 — The Government is contemplating imposing a 50 per cent duty on the import of wheat and review the customs duty regime on the import of edible oils.

BMW willing to set up unit
FRANKFURT, Dec 16 — BMW AG is willing to reconsider its aborted plan to set up an assembly unit in India, for producing its range of luxury cars, if the investments restrictions are relaxed.

G-20 summit opens
BERLIN, Dec 16 — Finance Ministers and Central Bank Governors from 20 countries, including India, today discussed measures to help the countries reduce their vulnerability to financial crisis in a bid to achieve a more stable international financial system.

Malaysia to develop port in Tamil Nadu
CHANDIGARH, Dec 16 — The Malaysian Government has signed an agreement with the Tamil Nadu Government for construction of a port in Kolachel, Tamil Nadu, said Datuk Seri S. Samy Vellu, Minister for Public Works, Government of Malaysia.

Workshop on CoQ
CHANDIGARH, Dec 16 — “Cost of Quality (CoQ) can be looked at as areas of improvement opportunities. The greater the cost in any area, the greater the scope of improvement. The key is to identify such costs, compute them and tackle them.”

IT Bill introduced in Lok Sabha
Tribune News Service

NEW DELHI, Dec 16 — The Government today introduced the Information Technology Bill, 1999, in the Lok Sabha that aims to provide legal recognition to Electronic Commerce and enable governance through the electronic medium.

The Bill, introduced by Information Technology Minister, Mr Pramod Mahajan, also seeks to amend the Indian Penal Code, the Indian Evidence Act, 1872, the Bankers Book Evidence Act, 1891 and the Reserve Bank of India Act, 1934 to provide equal legal treatment of users of electronic communication and paper based communication.

Cyber laws have become necessary as today the two principal hurdles which stand in the way of facilitating electronic commerce and electronic governance are the requirements as to writing and signature for legal recognition.

At present many legal provisions assume the existence of paper-based records and documents and records which should bear signatures. The Law of Evidence is traditionally based upon paper based records and oral testimony. Since electronic commerce eliminates the need for paper based transactions, hence to facilitate e-commerce the need for legal changes have become an urgent necessity.

According to statement of objects and reasons of the Bill, internationally trade through the medium of e-commerce is growing rapidly in the past few years and many countries have switched over from traditional paper based commerce to e-commerce.

When passed, the Bill based on the Model Law recommended by the United Nations Commission on International Trade Law, would enable the conclusion of contracts and the creation of rights and obligations through the electronic medium.

It is also proposed to provide for a regulatory regime to supervise the certifying authorities issuing Digital Signature Certificates. To prevent the possible misuse arising out of transactions and other dealings concluded over the electronic medium, it is also proposed to create civil and criminal liabilities for contravention of the provisions of the proposed legislation.

To facilitate electronic governance, it is proposed to provide for the use and acceptance of electronic records and digital signatures in the Government offices and its agencies. This would make the citizens interaction with the Government offices hassle free.

The Bill seeks to have an Electronic Gazette where all regulations, rules, orders, bye-laws and notifications can be accessed over Internet.

The proposed legislation seeks to impose a penalty upto Rs 10 lakh for damaging computers through virus or tampering the network by some other means or denying access to a network where a person has the legal right.

SmithKline Beecham to pay 30 per cent

NEW DELHI, Dec 16 (PTI) — Smithkline Beecham Consumer Healthcare (SBCH) today announced its second interim dividend of 30 per cent, of Rs 3 per share for its shareholders, on Rs 522 crore cumulative revenue for nine months ended September 1999.

“SBCH is extremely proud to bring increasing value to its shareholders,” Managing Director of Smithkline Beecham Consumer Healthcare Simon J. Scraff said in a press release here.

Today’s announcement follows SBCH’s first dividend this year of 27 per cent in July, Scraff said, attributing the second instalment to the company’s healthy performance this year.

The Rs 700 crore DCM Shriram Consolidated Ltd announced its foray into value-added services with the launch of a new chemical water-treatment solution, in which Rs 50 crore would be invested over the next five years.

The DCM Shriram Consolidated Ltd (DSCL) has business interests in fields as diversified as agri-business, chemicals, commodities, including sugar and cement.

Sonata Software has entered into a marketing tie-up with Chennai-based Customer Relationship Management (CRM) solutions provider Ibhar Software Ltd, for supporting and implementing latter’s products in the country.

50 pc duty likely on wheat import

NEW DELHI, Dec 16 (PTI) — The Government is contemplating imposing a 50 per cent duty on the import of wheat and review the customs duty regime on the import of edible oils.

“The Government is intending to impose a 50 per cent duty on import of wheat to discourage its imports because of its huge stocks in FCI godowns and an expected bumper wheat crop early next year,” Mr Shanta Kumar, Minister for Consumer Affairs and Public Distribution, said here today.

Addressing a meeting of industrialists at PHDCCI Mr Kumar said the Government would soon decide on hike in the import duty on edible oils as demanded by the indigenous edible oil industry in view of its cheap imports.

Accepting that around 35 to 40 per cent of foodgrains and other essential commodities supplied through public distribution system were being diverted, Kumar said “the Government is concerned over the issue as the PDS is targetted to benefit 32 crore people living below the poverty line.”

Chandigarh costliest city in India

NEW DELHI, Dec 16 (TNS) — Chandigarh still remains to be the costliest city in India despite not registering a rise in the consumer price index for Urban Non-Manual Employees (CPI-UNME).

According to the data made available by the Government, the CPI-UNME for November 1999 stood at 433 the same as October 1999, and higher by 76 points than the national average of 357. Chandigarh’s index is also much higher than the indices of the four metropolitan cities of Delhi (362), Mumbai (356) Chennai (389) and Calcutta (336).

Punjab to unveil privatisation law soon
Tribune News Service

NEW DELHI, Dec 16 — The Punjab Government is in the process of drafting a comprehensive privatisation law to attract large scale investment in the infrastructure sector. The new legislation is aimed at establishing a functionally and financially autonomous regulator, providing statutory protections against political risk affecting project viability adversely and establishing a credible and transparent regulatory mechanism, the State Finance Minister, Capt Kanwaljit Singh said while speaking at Infranet ‘99 — a three-day conference on infrastructure development organised by the CII here today.

The new law would also lay down a mechanism for arbitration and adjudication of disputes, besides evolving a transparent mechanism and rules to encourage and facilitate private participation and award of concession.

Capt Kanwaljit Singh said that the Punjab Government through the Punjab Infrastructure Development Board (PIDB),is aiming to attract investments to the tune of Rs 4,000 crore per annum into infrastructure projects.

About 25 projects involving an estimated investment of Rs 4000 crore are in different stages of development in the State.To expedite the execution of priority infrastructure projects the PIDB has formed three Special Purpose Vehicles which are the Chandigarh-Ludhiana Toll Road Company Limited, the Sutlej Toll Bridge and Roads Company Limited and the Ludhiana Bypass Toll Road Company Limited.

The State Government has set a target of achieving a 12 per cent growth rate in the industrial sector within the next two years and to increase the share of industry in net state domestic product from 23 per cent to 25 per cent within a time frame of three years.

For achieving these targets the minimum investment required in infrastructure sector is Rs 5,000 crore per annum. The total public sector investment in infrastructure amounts to Rs 1,000 crore per annum and therefore there is the need for private sector participation.

The State Finance Minister said that some basic institutional and legal constraints like lack of suitable regulatory and policy framework and lack on consensus on process to be adopted has impeded large scale private investment in this country.

BMW willing to set up unit

FRANKFURT, Dec 16 (UNI) — BMW AG is willing to reconsider its aborted plan to set up an assembly unit in India, for producing its range of luxury cars, if the investments restrictions are relaxed.

However, the company has not decided whether to make this re-entry in association with the Brijmohan Lall Munjal-run Hero group, Mr Felix Herrnberger, President of BMW Asia Pte Ltd, told UNI here.

BMW, has already decided not to revive its long buried venture with the Hero group for producing top-end motorcycles. “The chapter is closed for us and bikes are completely out of our India plans. We are still willing to invest and set up an assembly unit in India...but all that would happen if the Government relaxes its restrictions on minimum investment levels.’’

The laws now are not favourable, he said. BMW had initially planned to introduce its 3 series and 5 series range of luxury cars in India, under a separate 50-50 joint venture with the Hero group. However, the proposal was rejected by the Indian Government as the German major was not willing to invest the minimum amount of $ 50 million. BMW was willing to invest only $ 35 million.

Even as efforts would be renewed to seek approval for an assembly base in India, BMW would work towards establishing a service network in the country.

G-20 summit opens

BERLIN, Dec 16 (PTI) — Finance Ministers and Central Bank Governors from 20 countries, including India, today discussed measures to help the countries reduce their vulnerability to financial crisis in a bid to achieve a more stable international financial system.

The group of 20 countries (G-20) representing the seven industrialised nations and key emerging markets at their inaugural meeting focussed on improved financial sector regulation and supervision, prudent debt management, exchange rate regimes and implementation of international codes and standards.

German Finance Minister Hanse Eichel said a more stable international financial system would help ensure globalisation works to the benefit of ordinary people around the world.

The G-20, which was set up in September this year, represents a huge chunk of global economy at about 80 per cent of the world’s gross domestic product (GDP).

Finance Minister Yashwant Sinha is heading the four-member Indian delegation which includes RBI Governor Bimal Jalan.

Canadian Finance Minister Paul Martin, first Chairperson of G-20 for a two-year period, said the group would focus on translating the benefits of globalisation into higher incomes and better opportunities for people across the globe.

Badal assurance on lottery Bill
Tribune News Service

CHANDIGARH, Dec 16 — Protesting against the Lottery Ban Bill to be presented in Parliament Northern India Lottery Association, Ludhiana , President Om Parkash Chugh submitted a memorandum to Parkash Singh Badal urging him to protest against the Bill. Chugh said the State Government was earning an approximate revenue of Rs 25 crore annually from this trade.

Badal assured them that the State Government would protest the Bill in Parliament. The association members also met the Punjab Finance Minister and the Secretary, Finance, and submitted a copy of the memorandum.

Malaysia to develop port in Tamil Nadu
Tribune News Service

CHANDIGARH, Dec 16 — The Malaysian Government has signed an agreement with the Tamil Nadu Government for construction of a port in Kolachel, Tamil Nadu, said Datuk Seri S. Samy Vellu, Minister for Public Works, Government of Malaysia. The new port would be a 3 billion Malaysian ringgit project, and the Malaysian Government had commissioned 4 million Malaysian ringgit for the initial study which would be completed in 5 months. When completed the port would connect India from Europe through to Malaysia and Hong Kong.

Mr Vellu said that Malaysia had decided to undertake a privatisation exercise in 1983 in order to introduce efficiency in the running of former public enterprises, and to also reduce the burden on the exchequer. The process had been very successful. Further, massive progress had been made in infrastructure. Road, rail, sea port and air port links and capacity were now excellent, and the most state-of-art technologies like intelligent systems to monitor road transport and driverless trains had been introduced.

The institutional and regulatory framework for private participation in infrastructure must take into consideration factors such as land dealings, environmental standards, alternate dispute resolution, foreign participation etc in order to ensure an environment where private participation in infrastructure was encouraged. Some areas where Malaysia was considering reform in the near future were accounting and environmental standards, project bidding, tariffs and foreign entry, Mr Vellu said.

Workshop on CoQ
Tribune News Service

CHANDIGARH, Dec 16 — “Cost of Quality (CoQ) can be looked at as areas of improvement opportunities. The greater the cost in any area, the greater the scope of improvement. The key is to identify such costs, compute them and tackle them.” This was stated by Mr Snehil Kumar, Counsellor CII-TQM Division, Delhi at the one-day workshop organised by CII here.

Mr Kumar emphasised the importance of CoQ, which includes costs associated with providing poor quality products or services. He said that it is incredible but true that cost of poor quality is much more than profit in a large number of organisations. There are four internal categories to poor quality costs which are internal failure cost, external failure cost, appraisal cost and prevention cost.

Forex
US $ Rs 43.49/50
Stg £ Rs 70.24/26
Euro Rs 43.06/08
Jap yen (100) Rs 42.21/23

SBP branch
CHANDIGARH, Dec 16 — Mr V. Rajasekhar, Deputy Commissioner, Mohindergarh today inaugurated the 713th branch of the State Bank of Patiala at Kanina Mandi in Mohindergarh district. Mr J.R. Devgan, Deputy General Manager of bank’s Haryana Zone said the bank has so far issued 4,400 Kisan Cards to the farmers in the state and it’s total outstanding agricultural credit is more than Rs 168 crore. Against the national goal of 40 per cent credit to be disbursed to priority sector, the bank has an enviable record of reaching 66 per cent of total credit disbursed in Haryana to priority sector.

Office-bearers
From Our Correspondent
YAMUNANAGAR, Dec 16 — The following have been elected office bearers of the Yamunanagar Industries Association. President — Ramesh Goyal; Vice-Presidents — Iqbal Sagar Bajaj, Randeep Singh Jouhar, Prof. Sarwan Kumar, Harish Alagh; Organising Secretary — Gurinder Singh Chadha; General Secretary — Tilak Raj Vinaiyak; Joint Secretary — Arun Oberoi and Finance Secretary — Yash Pal Aggarwal.

Agitation
Tribune News Service
CHANDIGARH, Dec 16 — The State Bank Staff and employees from other banks and members of NCBE, NOBW and INBEF sat on a day long dharna in the Bank Square today, seeking the justice for all under seventh bipartite wage settlement. The bank employees also held lunch hour demonstration in the Bank Square.

Gestetner
Tribune News Service
CHANDIGARH, Dec 16 — Gestetner India Limited, the digital document solutions company today launched India’s first low cost digital colour copier under its Aficio range, with a unique auto colour calibration system. The company also launched Gestetner Radius 145, a laser printer-cum-digital copier-cum-scanner.

Godrej
Tribune News Service
CHANDIGARH, 16 — Godrej Soaps Ltd, has launched a new shaving cream called “Ultra Protection TM” with antiseptic power. Godrej Ultra Protection TM shaving cream has “Triclosan” a proven antiseptic that guard the skin from any infection.