The Financial Express -- News

Monday, May 26 1997

Ministry disowns Divestment Commission

Irked by a lack of control over the Disinvestment Commission, the Union industry ministry has asked the Union finance ministry to take the advisory body under its jurisdiction. The commission seems to be in the eye of yet another storm as Union industry ministry sources have virtually disowned it.

Infrastructure Bond Issue

Centre to unveil `Focus LatAm' project

In an effort to tap the enormous export potential to Latin American countries (LAC), the Centre plans to launch a "focus LAC project" to increase the export earning capacity to $1 billion in a year. The government plans to realise this objective by increasing shipments of engineering goods, textiles, chemical and agricultural products specifically to Latin American countries, according to a commerce ministry strategy.

Power Finance clears Rs 220cr loan for Maheshwar plan

The public sector Power Finance Corporation (PFC) has sanctioned its first-ever loan to a private power producer following a green signal from the Union power ministry on its requests made since December 1995. The PFC board has cleared a term-loan of Rs 220 crore for the 400 MW Maheshwar hydro-electric project (MHEP) in Madhya Pradesh at 19% interest rate.

LPG dealers cry for regulators, cylinders

Tenth successive monsoon likely