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Business Briefs

SAIL Navratna status

New Delhi, Dec. 25: Expressing concern over the poor performance of Steel Authority of India (SAIL), a Parliamentary committee on industry has favoured continuation of Navratna status for the steel giant saying that efforts made by the PSU in the last two years should be measured in terms of organisational changes, efficiency and effectiveness in working. “The need of the hour is to improve the performance of SAIL and save its status of Navratna,” committee chairman P. C. Alexander said.

ESI fund

New Delhi, Dec. 25: The Supreme Court has ruled that non-payment of contribution by the employer to ESI fund would not affect the payment of insurance money to the employee in case of his death, accident or medical exigencies.

Panna-Mukta

New Delhi, Dec. 25: The operatorship issue of Panna-Mukta and Tapti oil and gas fields appears to be heading for a resolution with the BG group proposing involvement of Indian partners in award of multi-million dollar contracts.

Sugar quotas

New Delhi, Dec. 25: The government has said that the allocation of quotas for sugar buffer will be in a ratio of 75:25 on basis of stocks with the mills and their production, respectively, even as the private mills are up in arms demanding that the allotment should be entirely based on production.

Tyre duty

New Delhi, Dec. 25: Tyre dealers today opposed any reduction in duty or quantum of taxes imposed on domestic manufacturers of cross-ply tyres, saying commercial vehicles are being forced to use outdated variety, while the world has switched to radial technology.


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