Patent bill: Compulsory licensing allays fears of rise in drug prices
New Delhi: With the passing of the Patents Bill India has kept its commitment to the WTO to have a product patent regime in place.

Commerce Minister Kamal Nath has, in the meanwhile, allayed fears of a steep rise in the prices of medicines, especially life saving drugs. The amended bill provides for compulsory licensing, which will enable Indian companies to manufacture medicines for a fixed tenure in case of any epidemic.

This move will ensure a control on prices. This step dispelled the fears of the Left and some NGOs, which until very recently were openly campaigning against the Bill.
Back to News Review index page  

Pension Bill likely to be referred to panel
New Delhi: The Pension Fund Regulatory and Development Authority Bill is likely to be referred to a Parliamentary Standing Committee in the face of staunch opposition from Left parties.

It was originally listed for taking up in Lok Sabha today but it is believed that the bill is unlikely to be taken up for discussion and will be referred to the Parliamentary Standing Committee on Finance, as the government does not want to antagonize the Left parties.

Though the BJP-led NDA has indicated that it was inclined to support the measure, the Congress may not rush through the bill given the sensitivities of the Left. The bill, which will replace an ordinance for setting up the Pension Fund Regulator, has to be passed before April 8, otherwise the ordinance, which it seeks to replace, will automatically lapse.
Back to News Review index page  

Dabhol: Govt. to create SPV for restarting project
New Delhi: NTPC, GAIL (India) Ltd, and other Indian lenders to the Dabhol power project will contribute Rs500 crore each as equity for a special purpose vehicle (SPV) being formed to restart the idle plant, Petroleum Minister, Mani Shankar Aiyar has said.

"An empowered group of Ministers constituted by the Government has decided to restart the Dabhol project and has suggested a restructuring package, the implementation of which would be carried out through formation of SPVs," he said in a written reply to a question in the Rajya Sabha.

While NTPC will restart the 2,184 MW power plant while GAIL would undertake LNG sourcing and operation of the LNG terminal.
Back to News Review index page  

DoT to hold talks with PSU chiefs on BSNL-MTNL merger
New Delhi: The Department of Telecom (DoT) will meet the CMDs of MTNL and BSNL to discuss the process of synergising the operations of two PSUs.

Mahanagar Telephone Nigam Ltd is listed in the country as well as on the NYSE, while Bharat Sanchar Nigam Ltd is a wholly owned government entity. The options being considered for the merger include making MTNL a subsidiary of BSNL or merging it with BSNL.

BSNL and MTNL have taken diametrically opposite positions on the synergy move with the former favouring making MTNL its subsidiary instead of going for a merger.

MTNL in turn has opposed the subsidiary route saying it is not going to deliver the desired results of synergy, cost reduction and unified command.
Back to News Review index page