Tuesday, August 25, 1998
New urea-pricing policy has lacunae
Much bitterness has been generated over the recommendation of the high- powered Hanumantha Rao Committee regarding the new pricing policy for urea. It was rejected by the industry lock, stock and barrel. Reportedly, after a lot of brainstorming, the government, too, seems to have disfavoured this. In fact, the department of fertiliser has mooted its own package.
Power prospects
The government keeps looking bad on every issue, but if optimists still want straws to clutch, they ought to look in the hitherto troubled waters of the power sector. The power ministry has signed three counter-guarantees in three weeks, the percentage cap on rupee loans in the debt component of financing packages has been removed.
Invoke ECA
After edible oils, it is now pulses that seems to have attracted the government's attention. The prices of both these essential commodities have been skyrocketing. To pacify consumers, all the more when festivals are around the corner, the government intends to dabble in imports of pulses, which are under OGL since 1978.
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