Friday, July 17, 1998
today's calendar
|
B U S I N E S S | Friday, July 17, 1998 |
|
| weather n
spotlight today's calendar |
|
|
M&M tractor unit for Punjab CHANDIGARH, July 16 — Mahindra & Mahindra is likely to set up a tractor project in Punjab, it is learnt.A team from M&M has visited various sites in Punjab along with the officials of the Punjab State Industrial Development Corpn... Hero Honda wins CII competition NEW DELHI, July 16 — The “Sunrise” quality circle from Hero Honda today won the 10th regional quality circle competition organised by the CII (Northern region) here... |
 |
Drama behind Puncom bid rejection CHANDIGARH, July 16 — The Telecom Commission has ordered a review of technology being offered for providing telephones in villages, according to information available here... Expert favours ILO reforms NEW DELHI, July 16 — There is a need for wholesale reforms in the style and operations of the International Labour Organisation (ILO) to make it more efficient and productive, Mr I.P. Anand, an expert on labour management says... |
|
List Maruti Udyog shares: Suzuki NEW DELHI, July 16 — Contrary to popular perception that the Government Suzuki tussle in Maruti Udyog began with the appointment of RSSLN Bhaskarudu as Managing Director in 1997, the trouble could actually be traced to 1996 when Suzuki had sought to buy out government stakes... S.S. Dawra appointed FCI MD NEW DELHI, July 16 — Mr S.S. Dawra, a 1967 batch IAS officer from the Punjab cadre, has been appointed Managing Director of the Food Corporation of India... 20 additional focal points for Punjab CHANDIGARH, July 16 — The Punjab Small Industries and Export Corporation has achieved a turnover of Rs 142 crore in 1997-98 against Rs 118 crore in the previous year... New LML models may be delayed NEW DELHI, July 16 — The much-awaited launch of “Gilera” motorcycle and a slew of other models from the LML Limited’s stables is likely to be delayed and even derailed as a result of the ongoing stand-off between Piaggio and the Singhania family... Diesel Astra in September NEW DELHI, July 16 — General Motors India Limited (GMIL) is chalking out a strategy to foray into the semi-urban cities and small towns with its 973cc small car ‘Corsa’...  |
|||||
M&M tractor unit for Punjab |
| Drama behind Puncom bid rejection Tribune News Service CHANDIGARH, July 16 — The Telecom Commission has ordered a review of technology being offered for providing telephones in villages, according to information available here. The commission has test-launched a satellite-based pilot project in north-eastern India. If successful, the technology will be used for providing telephones in villages in the rest of the country. Highly placed sources in Delhi told TNS today that digital WLL telephones offered by Mohali-based Punjab Communications Limited (Puncom) for 36,000 villages of Uttar Pradesh were rejected on technical grounds as there was a “ring-back” flaw in the system. The soft loan of $ 113 million offered by Asian Development Bank has not lapsed and “stands as of today,” the sources said.Punjab Chief Minister P.S. Badal has taken up the issue on behalf of Puncom — a public sector unit — with the Prime Minister saying the rejection of the Puncom bid was unwarranted and based on extraneous considerations. The Telecom Engineers of India (TEI), a non-profit organisation, has also taken exception to the Telecom Commission’s decision on Puncom’s digital WLL telephones saying India may have to surrender ADB’s soft loan. In September, 1993, ADB had agreed to provide a soft loan of $ 113 million for supplying the latest digital WLL telephones to 36,000 villages in Uttar Pradesh. After 42 months, global tenders were opened on March 11,1997. Among the bidders were Lucent Technologies (USA), Harris (Canada), Alcatel Telecom (France), Motorala (USA), SAT Telecom (France) and Erricson
(Sweden), NEC Corporation (Japan) and Tellabs
International (USA).A tender evaluation committee (TEC)
comprising five Deputy Directors-General of DoT submitted
its report on July 7,1997, rejecting 12 bids and clearing
the bids of Punjab Communications Limited and Bharat
Electronics Limited (BEL).On July 28 last, the Deputy Director-General, Material Management examined the TEC report in detail and confirmed the total acceptance of the bids of Puncom and BEL and recommended that the financial bids should be opened and foreign visits, if required, may be undertaken. The problem, the TEI sources say, started when the file was sent to the Adviser, Production, to seek approval for opening the financial bids. The Adviser, however, ignoring the deliberations of the TEC, in violation of ADB rules and DoT norms and the recommendations of the Deputy Director-General, Materials Management, gave a new turn to the case by constituting another committee called the HLC and nominating its members. The HLC, in its July 31,1997, report said that the TEC had not examined the acceptability of mixed analog-digital working. This claim has, however, been refuted by TEI experts as they maintain that the tender document states at 16 different places that only fully digital system is required. The TEI alleges that this change to induct analog-digital system so that some of the bids which had been rejected by the TEC could qualify for consideration had been made in gross violation of ADB rules. Two months later, the HLC submitted a report. In case of the Puncom, it recommended negotiations for proveness. Negotiations were held on October 29,1997, and all documents of the bid were shown, regarding which all five members of the Negotiation Committee orally expressed satisfaction. Three of the five Deputy Directors-General, however, refused to sign the record of discussion, which the TEI claims was a “one-sided concocted record”.To escape scrutiny by the ADB, the HLC recommended surrender of the ADB loan on the ground of heavy commitment charges, a plea which the TEI refutes, saying that the charges are applicable only after signing of the loan agreement. Saying that a detailed analysis of the bid was pending, the Chairman, Telecom Commission, rejected all bids on technical and proveness grounds. The HCL convener and creator signed the note on the same day (November 19,1997). |
| Hero Honda wins CII competition Tribune News Service NEW DELHI, July 16 — The “Sunrise” quality circle from Hero Honda today won the 10th regional quality circle competition organised by the CII (Northern region) here. The regional competition was a build up of the state-level preliminary competitions that took place throughout the year. The “Ankur” quality circle from ISGEC, Yamunanagar, won the first runner-up trophy and the second runner-up trophy was won by “Winmaster”, the quality circle from Indian Shaving Products Ltd, Bhiwadi. In the competition workers from Maruti Udyog Ltd, Hero Honda Motors Ltd, JCT Phagwara and Usha India International, among others, presented case studies in which productivity has been enhanced in their organisations by forming small quality circles. A quality circle is a small group of workers in a particular department of an organisation which analyses and works out counter measures for tackling various technical problems arising in that department.VXL, a quality circle of Maruti Udyog Ltd, presented a case study of increased line capacity of 800CC transmission. Winmaster, a quality circle from Indian Shaving products, presented a case study of how loss of plastic components of cartridge were reduced significantly resulting in increased production and increased customer satisfaction. Prayaas, a quality circle of JCT Ltd, Phagwara, demonstrated how about Rs 3 lakhs per month were saved by reducing the sizing stains of exported cloth.Sunrise, the quality circle of Hero Honda Motors Ltd, presented a project study to control the rejection of switch assembly winker in which saving per month to accounted to about Rs 1.64 per lakh. Mr Arun Bharat Ram, chairman, CII (Northern region), gave away the trophies to the winners at the valedictory session.Gp Capt R.S. Chaudhry of the CII TQM Division, was the chief judge at this session. Mr H.S. Minhas, sr vice-president Bharti Telecom Ltd, and Mr A.S. Pandey Divisional Manager, Samtel Color Ltd, were the other judges. |
| Expert favours ILO reforms Tribune News Service NEW DELHI, July 16 — There is a need for wholesale reforms in the style and operations of the International Labour Organisation (ILO) to make it more efficient and productive, Mr I.P. Anand, an expert on labour management from Punjab says. Mr Anand, who became the second Indian in 42 years to become the Vice President of the 86th ILO conference in Geneva recently, last time it being Mr Naval H.Tata in 1956, says that as regular pruning and weeding out in gardens and grasslands sustains the landscape and preserves the environment, reforms in the ILO would likewise keep the organisation trim, efficient and productive. A trustee of the Patiala Education Trust and the former Chairman of the Punjab, Haryana, Delhi Chambers of Commerce and Industry, Mr Anand says there have also been some undesirable trends and instances of hardships to workers in some countries which is deplorable. Mr Anand, who has been the Employers’ Advisor to the Indian delegation to ILO General Assembly, Geneva for five years and was elected to the Governing Body of ILO in 1993 and reelected in 1996, says the international community must accept the fundamental reality that imposed instruments by way of Conventions can only follow economic growth. Economic growth can be sustained on a long term basis, only through viable policies and programmes executed with mutual faith and conviction therein by social partners. There should be no veiled cynical disbelief or subversion. Only then the ILO will succeed in its mission. |
| List Maruti Udyog shares: Suzuki NEW DELHI, July 16 (PTI) — Contrary to popular perception that the Government Suzuki tussle in Maruti Udyog began with the appointment of RSSLN Bhaskarudu as Managing Director in 1997, the trouble could actually be traced to 1996 when Suzuki had sought to buy out government stakes. SMC had in that year offered to the government to either buy out its stake or else sell its own to restructure the company management following the mistrust between the two partners. “Suzuki has been losing its zeal to continue management in Maruti. In this context I would like to propose that management of Maruti be straightened by listing its shares or by selling the government’s shares to Suzuki, or vice versa.” SMC President and Chief Executive Officer Osamu Suzuki had written to the Indian Government. On future investments, Suzuki said for a healthy financial position of the company, one-third of the Rs 7,931.3 crore needed for the purpose should be raised equally by internal reserves, debt loan and equity injection. Suzuki envisaged a Rs 107.1 crore investment for aluminium die cast plant, Rs 927.5 crore for transmission facilities, Rs 1,519.9 crore for raising capacity to half a million and Rs 2,404.1 crore for introduction of new models. A new model for ‘800’, ‘Zen’, ‘Omni’ ‘Wagon R’ and ‘Sedan car’ as well as a motor cycle and scooter plant with a capacity of 1.5 lakh units annually are envisaged in the future investment proposals made by Suzuki. |
| S.S. Dawra appointed FCI MD Tribune News Service NEW DELHI, July 16 — Mr S.S. Dawra, a 1967 batch IAS officer from the Punjab cadre, has been appointed Managing Director of the Food Corporation of India. Mr Dawra comes in place of Ms Sarita J. Das, who has joined as Member Secretary, Urban Development Board.Mr Dawra was earlier posted as Additional Secretary in the Department of Revenue. A former Resident Commissioner of Punjab in New Delhi, Mr Dawra had also served as Secretary, Information, and Director Public Relations, Punjab. Meanwhile, Mr R.R. Shah, an IAS officer of the Uttar Pradesh cadre, will join the Information and Broadcasting Ministry in the rank of Additional Secretary, an official release said here today. Initially Mr Shah was expected to join the FCI. But Mr Surjit Singh Barnala, Union Food Minister, was keen on Mr Dawra’s appointment because of the sensitive role assigned to the FCI in the current phase of the rising prices of essential commodities. |
| 20 additional focal points for Punjab Tribune News Service CHANDIGARH, July 16 — The Punjab Small Industries and Export Corporation has achieved a turnover of Rs 142 crore in 1997-98 against Rs 118 crore in the previous year. Managing Director G. Vajralingam told TNS today that “aggressive” marketing and stepped-up efforts to recover dues were behind the achievement. The PSIEC has reopened its depots at Mohali, Batala and Goraya and steps are being taken to open new depots at Bathinda, Mandi Gobindgarh and Chandigarh during the current year. Mr Vajralingam, who is to take over as Finance Secretary of UT Chandigarh, said the PSIEC will set up 20 more focal points with all amenities including a common effluent treatment plant. A new policy was on the anvil to ensure genuine persons got plots and the intended units were set up. Several structural changes have been brought about in the working of emporia organisation of the corporation. The emporia turnover was Rs 575 lakh in 1997-98. The carpet training centre, Amritsar, has been revitalised and new linkages with export houses were being tapped. The PSIEC was also sorting out problems faced by the 100 per cent export-oriented units. The export division of the corporation has commissioned the Indian Institute of Foreign Trade to prepare an “action plan” for exports from Punjab. |
| New LML models may be delayed NEW DELHI, July 16 (UNI) — The much-awaited launch of “Gilera” motorcycle and a slew of other models from the LML Limited’s stables is likely to be delayed and even derailed as a result of the ongoing stand-off between Piaggio and the Singhania family over the issue of stake sell-off on their joint venture LML Limited. “This battle would affect the cordial relations between Piaggio and LML and if the stand-off is not resolved, it might have serious repercussions on the future of the joint venture,” Piaggio sources told UNI here today. Piaggio India’s Resident Manager Mario Emprin Gilardini has already stated that the company would oppose any move by the Singhanias to by out the Italian two-wheeler major’s 23.6 per cent equity in LML. However, LML officials are optimistic and feel that the power tussle would not have any bearing on the launches planned for over the next year. |
| Diesel Astra in September NEW DELHI, July 16 (UNI) — General Motors India Limited (GMIL) is chalking out a strategy to foray into the semi-urban cities and small towns with its 973cc small car ‘Corsa’, slated for launch around September next year. “Corsa would be our mass-sale vehicle and we would be targeting even the smaller towns and semi-urban cities with this car. The first small town dealer would be appointed by March next year,” senior company officials told UNI here. The car is likely to be priced in the Rs 4.5 lakh category.The new strategy, the officials said, is aimed at improving its presence in every nook and corner of the country. “The Opel Astra is more of an urban and big city car. So, we will be using the Corsa to see that the company’s rate of penetration is increased in the smaller towns.” GMIL, the officials said, is all set to roll out the diesel Astra in September this year. |
| Biz
briefs Gold firm NEW DELHI, July 16 (PTI) — Precious metals, silver and gold, recovered on the bullion market today on emergence of local buyer in the face of restricted supply and closed with fresh gains. The quotations: Silver .999 (ready) 7985, delivery 7990. coins buyer 10,400 and seller 10,600. Standard gold 4350, ornaments 4200 and sovereign 3525. Reliance bonds MUMBAI, July 16 (PTI) — The Rs 13,000 crore Reliance Industries Ltd (RIL) has successfully marketed its first offering of one-year fixed priced bonds carrying 13.25 per cent annual coupon. The issue was oversubscribed by 125 per cent and closed at Rs 225 crore. The bond issue, arranged by DSP Merrill Lynch, is in continuation of the company’s strategy to raise financing in a cost-effective manner through use of innovative instruments, RIL said.  Woolworth MUMBAI, July 16 (PTI) — Credit Rating Information Services of India Ltd (Crisil) has downgraded rating assigned to the Rs 202.5 million non-convertible debenture programme of Woolworth (India) Ltd from A (pronounced as single A minus) to BB. Flair Pens Tribune News Service NEW DELHI, July 16 — The rupees 30-crore Flair Pens Limited, which was a tie-up with the world renowned Pierre Cardin has launched three new designs under the Pierre Cardin Label titled “V-King” “Tycoon” and “Studio”. SBI Home Fin NEW DELHI, July 16 (PTI) — The Indian Credit Rating Agency (ICRA) has downgraded the fixed deposit (FD) rating of SBI Home Finance (SBIHF) to MA+, from the earlier MAA. The financial position of SBIHF has been adversely affected by the deterioration in the assets quality, ICRA said LIC Tribune News Service CHANDIGARH, July 16 — Mr Naveen Kumar Bansal, direct agent from DAB branch has topped the Chandigarh Division in the year 1997-98 on sum assured basis, Rs 2.72 crore). HMT NEW DELHI, July 16 (PTI) — The Centre has agreed to provide budgetary support to the Hindustan Machine Tools (HMT) and approved the public sector undertaking’s proposal on joint venture, strategic alliances and structural changes. This was effected in a MoU signed between the government and HMT for 1998-99 with the Centre agreeing to give budgetary support by way of grant for the watch factory in Srinagar. |
 |
 |
 |
| Nation
| Punjab | Haryana | Himachal Pradesh | Jammu & Kashmir | Chandigarh | | Editorial | Stocks | Sports | | Mailbag | Spotlight | World | 50 years of Independence | Weather | | Search | Subscribe | Archive | Suggestion | Home | Email | |
