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Wednesday, May 6, 1998

	A welcome move The Department of Telecommunications' (DoT) expected move towards extending the cellular licence period for telecom projects to 15 years and moratorium of two years for the payment of licence fees makes eminent sense. Firstly, experts in telecom financing for long have been reiterating the futility of charging high licence fees from the private operators.		Total autonomy This budget may well be crucial to the oil industry because it comes at a time when the first phase of reforms has already kicked off in the petroleum sector. There are several issues to be resolved. The industry is in a limbo as duty changes recommended by the Nirmal Singh committee have not been incorporated yet.
	ICI speciality focus pays off The stock price of ICI is at its historic high of Rs 279. There are several reasons for the drastic improvement in discounting for the stock. The main reason has been the company's changed business outlook and focus. Under the aegis of its restructuring programme, the company has got out of its industrial chemicals business.		Twixt the Arabian Sea and Marxists Fuming days and sultry nights. Industry lagging like a lame horse. God's own country now is desperately looking for, to quote its chief minister, any devil to come in with electricity. But not Enron! One step forward and two steps back describes the hullabaloo created by the Kerala government over the Kannur Power Project.

The Index
Petrol cess -- After a prolonged delay, the government is finally considering the implementation of a 5% cess on petrol for funding road projects. Which although a fine concept, could prove quite a handful for the government to implement. What the government seems to be contemplating is that the imposition of a 5% cess would be credited to special fund meant for the construction and maintainance of roadways.

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