Govt hopeful of meeting privatisation target
New Delhi: Government hopes to meet its target of raising Rs 120 billion ($2.50 billion) through privatisation of state-run firms in the current financial year, according to disinvestments secretary Pradip Baijal.

The government has plans to sell its stake in VSNL, Maruti Udyog Ltd and IBP and other public sector companies during the current fiscal. So far, its has only managed to raise Rs 2.07 billion through the sale of stakes in state-run computer software and maintenance firm CMC Ltd as well as telecoms gear maker HTL, formerly Hindustan Teleprinters.

The government hopes to complete the privatisation of 11 other firms in the current financial year.
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Govt okays FDI proposals worth $79.1 m
New Delhi: The government has cleared 33 foreign direct investment (FDI) proposals worth Rs 3.8 billion ($79.15 million) across different industries.

The cleared projects include a Rs 2.3-billion proposal by leather footwear manufacturer DPS Universal Ltd to establish a wholly-owned subsidiary in West Bengal. A Rs 1.05-billion proposal by UK-based tour and travel company Thomas Cook Overseas Ltd, to raise its equity to 60 per cent from 40 per cent in its Indian subsidiary has also been cleared.
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Internet telephony to open up next year
New Delhi: The government on Friday announced opening up of Internet telephony from April 1, 2002.
Since the date for breaking VSNL's monopoly over ISD communication was advanced from 2004 to 2002, government has taken a decision to provide the benefits of Internet telephony to the customers simultaneously, according to communications minister Pramod Mahajan..
The Department of Telecommunication (DoT) has already sent a communication to Telecom Regulatory Authority of India (TRAI) seeking its advise on Internet telephony, the minister said.
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One million PCs sold in 3 months
Bangalore: Over one million personal computers were sold in India in the last three months, according to Intel.
"Production will continue to grow. Indian market consumption was at a record level in the last three months (July-September), highest for any quarter", Avtar Saini, director for South Asia, Intel Asia Electronics, said here.
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A-I engineers opt for 15% pay cut
Mumbai: Air-India on Friday said that around 100 of its executive engineers had opted for a 15 per cent voluntary salary cut for a three-month period between October and December. It said that the engineers took the decision alarmed at the financial impact of the September 11 terrorist attacks in the US.
Air-India said that more employees were expected to follow suit.
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Tea production to stop by Nov end
New Delhi: Tea producers have decided to curtail supplies by 15 million kg by halting production from November end according to Indian Tea Association chairman R S Jhawar.

In 2000 the growers had closed the season in the third week of December, but this time it had been decided to advance the date by a few weeks.
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