TWENTY YEARS AGO TODAY
october 13, 1997
Three more Cement Corpn units on the block soon
The Government has decided to revive the process of hawking off three more units of the State-owned Cement Corporation of India (CCI) as part of a physical and capital restructuring proposal. Even though the Industry Ministry is yet to clear the sale of CCI’s first unit at Yerraguntla in Andhra Pradesh, which was put on the block, the process of finding a buyer or a joint venture partner for two units in Madhya Pradesh and one in Haryana will be kicked off shortly, according to top officials.
Maran to meet industrialists
The Industry Ministry is optimistic of a double digit industrial growth in the current fiscal on the strength of improved domestic demand during the second half of 1997-98. “We would still like to hope for a ten per cent plus industrial growth. We expect the growth momentum to pick up substantially in the second half of the year,” highlyplaced Industry Ministry sources told PTI. Concerned over the continued deceleration in industrial growth, the Industry Minister, Mr. Murasoli Maran, has called for a meeting with a few top industrialists, including Mr. L.M. Thapar and Mr. H.S. Singhania, on Monday, to solicit their views on measures initiated by the Government.
Modified badla gets Ministry approval
The Finance of Finance has cleared the path for the adoption of the modified carry forward trading system by narrowing down several issues raised after the JR Varma Committee submitted its report on this. According to senior Ministry officials, most of the issues had been sorted out and a decision on the modified badla would be taken at the board meeting of the Securities and Exchange Board of India (SEBI) in New Delhi on Tuesday.