Pakistan: Composite dialogue moving ahead
Islamabad: Pakistan has said the dialogue process with India to resolve all outstanding issues is "moving ahead". "The composite dialogue is moving ahead," Pakistan Prime Minister Shaukat Aziz, said while admitting the Baglihar Dam project has created "some complications." "We are hoping that this will resolve through dialogue...it is not the end of the world. Luckily, it is governed by a treaty which provides for dispute resolution. We now leave it to the experts to decide," Aziz, said in an interview to Pakistan daily 'Dawn'.

In Davos, Aziz told a breakfast meeting on the sidelines of the WEF, that Pakistan would press ahead with the gas pipeline project even if India refused or was unable to join the plan. Aziz said he would discuss the matter with his Indian counterpart, Manmohan Singh, when the two meet in Dhaka next month during the SAARC Summit.
Back to News Review index page  

Inflation falls to 33 week low at 5.42 per cent
New Delhi: The annual wholesale price index-based inflation fell to a 33-week low of 5.42 per cent during the week ended January 15, from 5.6 per cent recorded in the previous week.

The fall in the point-to-point inflation index was mainly on account of a dip in prices of essential items like vegetables, fruits, tea, edible oil and naphtha. During the latest recorded week, the WPI remained unchanged at the previous week's level of 188.6. The Primary Articles' index declined to 185.5 points during the week, from 185.9 in the previous week as prices for food items dipped by 0.3 per cent and for non-food items by 0.1 per cent.

The Manufactured Products Group index rose by 0.1 per cent to 167.5 points, due to costlier food products, non-metallic minerals, basic metals and machinery, though prices fell for textiles, chemicals and transport parts.

The index for fuel, power, light and lubricants group dipped marginally to 288 due to a 1 per cent fall in naphtha prices, although furnace oil became costlier by 1 per cent.

Among the Primary Articles' group, the index for food articles dipped to 183.9 due to lower prices of tea (4 per cent), eggs and vegetables (3 per cent), arhar, fruits, jowar, ragi, moong, condiments and spices (1 per cent each).

The Government also revised downwards the WPI index for the week ended November 20 to 189.9 points, from the provisional figure of 190.1 points. Inflation stood corrected at 7.23 per cent, as against the provisional figure of 7.34 per cent.
Back to News Review index page  

India and Canada look at a comprehensive economic partnership
New Delhi: A joint study would be set up to look into the possibility of a comprehensive economic partnership between Canada and India. This was decided at a bilateral meeting between the Commerce and Industry Minister, Kamal Nath, and the Canadian Minister for International Trade, James Peterson, on the sidelines of the World Economic Forum's annual meet in Davos.

Peterson indicated that Canada was keen on looking at India as a stepping-stone to the South Asian Association for Regional Cooperation (SAARC) and ASEAN regions and in turn invited India to use Canada as a base for entering the North American Free Trade Area (NAFTA).

On an invitation from Kamal Nath, the Canadian Minister for International Trade agreed to come to India with a delegation of 300 Canadian business representatives in April 2005.

An official release said that Kamal Nath also had a meeting with Peter Mandelson, Trade Commissioner of the European Union (EU). The Union Commerce and Industry Minister is scheduled to have separate meetings with Robert Zoellick, the United States Trade Representative and with Pascal Lamy, former EU Trade Commissioner and one of the candidates for the post of Director General of World Trade Organisation (WTO). Nath would also hold bilateral talks with the Trade Ministers of Korea, the Netherlands, Germany and Chile, the release added.
Back to News Review index page  

Ethanol-petrol blending: Task force to study implementation
New Delhi: The Government has formed a taskforce to study the implementation of the mandatory blending of ethanol with petrol.

The taskforce headed by M.S. Srinivasan, Additional Secretary in the Ministry of Petroleum and Natural Gas, will comprise representatives from the Ministries of Agriculture and Co-operation, Food and Public Distribution, Chemicals and Petrochemicals, Panchayati Raj, and the Planning Commission, an official said.
Back to News Review index page