DoT offers to extend deadline
NEW DELHI, March 4 — The Department of Telecom today said it would not initiate action against private telecom operators if they promised to pay 20 per cent of their licence fee by March 31.

Sugar mills to pay 15 pc interest on delayed payments
TALWANDI SABO, March 4 — Punjab Agriculture Minister, Gurdev Singh Badal today said the State Government had made a law according to which the sugar mills would have to pay 15 per cent interest on the delayed payments to sugarcane growers.

Transfer of units may be regularised in UT
CHANDIGARH, March 4 — The Chandigarh Administration is likely to grant the right to transfer to industrial unit owners here and regularise transfers already made.

Silver nosedives NEW DELHI, March 4 — Silver prices nosedived further and closed with another big loss.

Indian dairy industry unhappy with Budget
NEW DELHI, March 4 — The Indian dairy industry has expressed unhappiness over the budgetary proposal to increase excise duty on ice cream and condensed milk.

Ranbaxy, NFL get safety awards
CHANDIGARH, March 4 —Ranbaxy Laboratories Limited and the Bathinda unit of National Fertilisers Ltd received three Punjab State safety awards each at a State-level function held at the Punjab Tractors Limited complex at Mohali on the occasion of National Safety Day today.

Rice millers continue stir

DoT offers to extend deadline

NEW DELHI, March 4 (PTI) — The Department of Telecom (DoT) today said it would not initiate action against private telecom operators if they promised to pay 20 per cent of their licence fee by March 31.

“If they (telecom operators) undertake to make payment by March 31 without raising any further issue, the government can consider their viewpoint”, DoT counsel Additional Solicitor General (ASG) R.N. Trivedi submitted before the Delhi High Court.

So far the department has not initiated any action against the companies which defaulted on payment of 20 per cent of their licence fee by February 28, Trivedi said and added that “there is no show-cause. If we initiate any action, the show-cause will follow”.

The offer made by the ASG was rejected by counsel for four petitioner companies — Birla AT T, Essar, Tata Teleservices and Hughes Ispat.

Justice M.K. Sharma adjourned for tomorrow the hearing of all four petitions seeking interim injunction against DoT from encashing the bank guarantee of the four companies following their failure to meet the February 28 deadline.

DoT is required to give six months notice for termination of licence to basic operators and that of 60 days to cellular companies, Trivedi and government counsel Rakesh Tiku said.   

Satellite uplinking

The government is actively considering to expand the scope of satellite uplinking from India to all Indian-managed channels, the Lok Sabha was informed today.

Satellite uplinking facility through VSNL is already being provided to Indian-managed companies, having minimum 80 per cent Indian equity holdings, specifically to those who had been availing foreign exchange for hiring uplinking facilities from abroad, Minister of State for Information and Broadcasting Mukhtar Abbas Naqvi said in a written reply.

Sugar mills to pay 15 per cent interest on delayed payments
Tribune News Service

TALWANDI SABO, March 4 — Punjab Agriculture Minister, Gurdev Singh Badal today said the State Government had made a law according to which the sugar mills would have to pay 15 per cent interest on the delayed payments to sugarcane growers.

Addressing a function organised in connection with the inauguration of honey bee training centre set up at the cost of Rs 6 lakh here, Mr Badal said all the sugar mills had been directed to make payments to the sugarcane growers for their procured crop within 15 days and if they failed to make payments in the stipulated time they would have to pay 15 per cent interest on the total amount.

He said Punjab Government had fixed Rs 95 as minimum support price (MSP) of sugarcane which was highest in the country. He added that Punjab Government was also making efforts to increase the MSP of wheat which at present had been fixed as Rs 550.

The minister said agriculture department officials had been directed to carry out soil testing in a big way at the door step of the farmers and help them in bringing down the cost of cultivation. He added that farmers should also adopt new and cheap methods of cultivation according to the recommendations of agriculture officials.

While disclosing that Central Government had bestowed two production awards to Punjab Government, Mr Badal said Punjab Government would ensure the adequate supply of cotton seeds to the farmers by importing these from other States.

He pointed out that due to natural calamities, only six lakh bales had been produced in Punjab against the target of 26 lakh bales. He added that the government had sought the help of Central Government to compensate the farmers.

Transfer of units may be regularised in UT
Tribune News Service

CHANDIGARH, March 4 — The Chandigarh Administration is likely to grant the right to transfer to industrial unit owners here and regularise transfers already made.

Announcing this at the State Awards function organised by the UT Industries Department, Mrs Anuradha Gupta, Home Secretary-cum-Secretary Industries, said the foundation stone of the proposed exhibition ground would be laid later this month or early April.

Mrs Gupta said preference would be given to local units while purchasing material for the UT administration.

The winners this year are: (a) Industrial Traders (India) first, which gets a trophy and Rs 15,000 in cash; (b) Jrew Steels Ltd second, which carries Rs 10,000 and Sonacem Paints third with Rs 5,000 in cash, besides trophies.

Mr Arun Sekhri, Director of Industries, told TNS that the awardees were selected on the basis of the criteria like production sales, profitability, employment generated etc.

There were only four applications for the awards. Mrs Anuradha Gupta told TNS that strict guidelines prescribed by the Union Government ensured that only those genuinely eligible got the awards.

Small amounts perhaps make the “State” awards less attractive. To keep the annual show going, the administration has decided to make the first award winners again “eligible” for the awards after two years.

Silver nosedives

NEW DELHI, March 4 (PTI) — Silver prices nosedived further to touch three-year old level on the bullion market on stockists offering influenced by lower overseas advice and closed with another big loss. However, gold recovered some of the lost ground in last few session on scattered buying against tight stock position. Marketmen said silver was further lower in Asian markets which pushed down prices badly. Market participants said silver expected to move lower in the next few days as supply tightness was eased on a decline of leasing rates.

Silver .999 (ready) lost further by Rs.120 at Rs.7900 per kilo on hectic selling. Weekly delivery also declined but only Rs.35 at Rs.8140 as speculators were expecting a recovery in the near future. Silver coins lost by another Rs.100 at Rs.10,400/10,600 per 100 pieces.

Standard gold and ornaments gained Rs.15 each at Rs. 4390 and Rs. 4240 per 10 gram respectively. Sovereign was traded at last level of Rs.3800 per piece of eight gram.

Indian dairy industry unhappy with Budget
Tribune News Service

NEW DELHI, March 4 — The Indian dairy industry has expressed unhappiness over the budgetary proposal to increase excise duty on ice cream and condensed milk. The Union Budget 1999-2000 has proposed to increase excise duty on ice cream and condensed milk from 13 per cent to 16 per cent.

The President of Indian Dairy Association (IDA), Mr Animesh Banerjee said that Union Budget 1999-2000 has left the dairy industry high and dry.

“ It is a wrong impression that any value added milk product, if charged higher levies, does not affect consumers in general”, Mr Banerjee said.

Ranbaxy, NFL get safety awards
Tribune News Service

CHANDIGARH, March 4 —Ranbaxy Laboratories Limited and the Bathinda unit of National Fertilisers Ltd received three Punjab State safety awards each at a State-level function held at the Punjab Tractors Limited complex at Mohali on the occasion of National Safety Day today.

These awards were presented by Mr Balramji Dass Tandon, Minister for Local Government, Labour and Employment at a function organised by the Directorate of Factories, Punjab.

Mr B.Vasudevan, DGM, and Mr R.S. Bansal, DGM from Ranbaxy received the awards for lowest accident frequency rate and reducing accident rate in chemical industry for working more than 5 lakh man-hours.

The Bathinda unit of National Fertilisers Limited was awarded for the “largest reduction in accident frequency rate in chemical industry”, “lowest frequency rate of accident” and “longest accident free period” for the year 1997. One of the unit employees was awarded the Kirt Shromani award along with Kirt Veer awards to its six employees.

Rice millers continue stir
From Our Correspondent

PHAGWARA, March 4 — The Punjab Rice Millers Association today clarified that it had postponed only its “jail bharo andolan” following the negotiations with the Chief Minister, Mr Parkash Singh Badal, and the Food and Supplies Minister, Mr Madan Mohan Mittal, in Chandigarh yesterday but the indefinite strike will continue till its demands are accepted.

by Pushpa Girimaji
Pay diesel cess, but demand better roads

SINCE the Union Surface Transport Minister had already spoken of the government’s intention to impose a cess of Re 1 on every litre of high speed diesel to improve highways in the country, the Finance Minister, Mr Yashwant Sinha’s announcement in his Budget speech about an additional levy of Re 1 on every litre of diesel did not come as a big surprise. However, what did come as a surprise. However, what did come as a surprise was the Finance Minister’s decision to use it more as a revenue earning measure than as a dedicated cess towards road development.

Stating that the revenue from the additional duty of Re 1 per litre of HSD would accrue entirely to the Centre, the Finance Minister said half of this amount would be allocated to support the initiatives in rural development and social sectors. The other portion of 50 paise of this duty, as also the duty of Re 1 per litre of petrol levied from June 2 last year would be converted into a statutory cess and transferred to the Central Road Fund. Thirty per cent of the Fund will be transferred to the State Governments for development and maintenance of State roads. The balance amount will be utilised for development and maintenance of National highways and expressways and by the Ministry of Railways for construction of railway over bridges and railway safety works at unmanned railway crossings. This will cover the gap in the plan resources of the Ministry of Railways for the year 1999-2000, the Finance Minister said. While the revenue from the petrol cess imposed last year is expected to be Rs 790 crore, that from the additional duty on diesel, Rs 5,000 crore.

Roads in India contribute to about 60 per cent of goods movement and 80 per cent of passenger traffic. By the year 2000, this is expected to go up to 65 per cent and 87 per cent respectively. Yet, development of roads has not kept pace with the increase in traffic, resulting in slow down in traffic movement, high cost of maintenance of vehicles, high consumption of fuel and of course larger number of road accidents. So much so that the economic losses as a result of poor roads is estimated to be around Rs 300 billion per annum. And obviously, it is the consumer who pays for this.

According to the economic survey (1998-99), a sum of Rs 74,500 crore (calculated at the 1996 price level) would be required to overcome the deficiencies in the existing national highway network alone! And we need to have another 15,766 km of expressway network by the year 2020, of which a length of 4,885 km needs to be added by 2005 on a priority basis. Since budgetary allocation alone (the allocation for road sector in the present budget is Rs 3,709 crore) cannot meet the needs of this sector, dedicated road fund is the best option. Creation of a fund earmarked for infrastructure development through levy of specific user tariffs is not a new phenomenon and is in practice in many countries.

Consumers who are bearing the burden of the additional cess on petrol and diesel should protest against this and demand that the entire revenue from the additional levy on petrol and diesel should be dedicated to building good roads within a specific time-frame. The government should also come up with a specific plan of action for implementing this and consumers should be informed at regular intervals of the progress made.

The Finance Minister in his Budget speech spoke of transforming India into a genuine economic super power. “The twenty-first century belongs to us”, he said.

BBIL awarded licence

NEW DELHI, March 4 (UNI) — Bharti-BT Internet Limited (BBIL), a joint venture between Bharti Enterprises and British Telecommunications Plc, was yesterday awarded a national ISP licence by the Department of Telecommunications. The licence allows BBIL to offer a range of internet services to both corporates and individuals throughout India. BBIL has been awarded ‘A’ category licence that allows the company to provide internet services on an all-India basis.

Court urged to restrain Chhabria

MUMBAI, March 4 (PTI) — The Mumbai High Court was yesterday asked to restrain the Kishore Chhabria group from exercising voting rights in regard to removal of six directors, including chairman Vijay Mallya, from the board of Liquor Company Herbertsons Ltd. Justice H.L. Gokhale is hearing a suit filed by a major shareholder of Balaji group, Srinivasalu Reddy, who challenged the alleged acquisition of 21 per cent shares of the company secretly in addition to the 26 per cent already offered by Mallya to Chhabria group.

Videocon tops with complaints

MUMBAI, March 4 (PTI) — Videocon International Ltd, with 22 complaints topped the list of corporates with maximum number of complaints pending against them for more than two months as on February 28, 1999, on the National Stock Exchange (NSE). The NSE in a release said, Vatsa Corporations Ltd had 21 complaints, Padmini Polymers Ltd 11, NEPC India Ltd 10, Xedd Telecom Ltd nine, Rinki Petrochemicals and Industries Ltd eight, Grapco Industries Ltd and Sterlite Industries (India) Ltd six each, Prudential Capital Markets Ltd and Sanderson Industries Ltd four each.

ICRA downgrades Alpic Fin

NEW DELHI, March 4 (PTI) — Rating firm Icra has downgraded fixed deposit programme of Alpic Finance to MB+ from MA+ indicating adequate safety. “During 1997-98 business levels came down with both lease and hire purchase disbursements showing a significant decline. There was an increase in non-performing asset levels and decline in collection efficiencies during this period,” an Icra statement said here today.

The RBI reference rate was Rs 42.53.

IFCI
CHANDIGARH, March 4 (TNS) — The Board of Directors of the Industrial Finance Corporation of India Limited (IFCI), has decided to make a rights issue of equity shares aggregating Rs 353 crore in the ratio of one equity share of Rs 10 each for cash at par for every one equity share of Rs 10.