The Financial Express -- News

Tuesday, August 5 1997

Centre puts pay panel notification on hold

The Union government yesterday decided to withhold implementation of the Fifth Pay Commission's recommendations for its 52-lakh employees involving a package of Rs 13,500 crore. This has come in the wake of agitational approach adopted by employees' associations.

Ipca may re-orient production facilities

Ipca Laboratories is evaluating the feasibility of continuing manufacturing operations at its plants in Mumbai and Sidhpur in Gujarat as part of an attempt to "optimise the cost efficiency" of its multi-locational facilities.

Reserve Bank props dollar with $200 mn purchase

The Reserve Bank of India continued to prop up the dollar and bought roughly $200 million in the forward dollar market yesterday. Far forward dollar premiums shot up as a result of the RBI's purchases.

DSS Mobile ties up with Beltron, Punwire for roaming service

Koshika bid to rope in Alcatel, allies spiked