Financial Daily from THE HINDU group of publications
Thursday, Nov 20, 2003
Financial Daily from THE HINDU group of publications Thursday, Nov 20, 2003 |
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Airlines Airport modernisation: Meet fails to finalise consultant Our Bureau
New Delhi , Nov. 19 THE empowered Group of Ministers (GoM) meeting on Wednesday failed to finalise the name of the financial consultant to be appointed to assist the Government in modernising the airports in Delhi and Mumbai. "The group saw a presentation by three prospective financial consultants. A decision will be taken shortly," the Minister for Civil Aviation, Mr Rajiv Pratap Rudy, told newspersons after the meeting. He added that the Government would take all steps to make up for the time that has been lost in appointing the financial consultant. "The airport project is a mega-project. We have some cushioning time to see that the project is not really delayed." The meeting was attended by the Finance Minister, Mr Jaswant Singh, the Minister for Disinvestment, Mr Arun Shourie, and the Law Minister, Mr Arun Jaitley, apart from Mr Rudy. At the meeting, a senior Cabinet Minister is said to have expressed his displeasure at the delay in taking a decision on the matter which it was felt was because of hurdles being brought about by a section of the bureaucracy. The Government has already short-listed three global financial consultants - Ernst and Young, KPMG and ABN-Amro. On whether the decision had been postponed till the elections to four States was over, Mr Rudy replied in the negative. "The decision should be taken this week.'' This was the third meeting held this month. After the first meeting on November 9, Mr Rudy had said that the name would be announced after a meeting on November 14. During that meeting, the group did not agree with the selection of the L-1 bidder by a high-powered inter-Ministerial bureaucratic committee. Hence, it was decided to ask the consultants to make a presentation before the group on Wednesday.
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