Financial Daily from THE HINDU group of publications
Thursday, Jun 17, 2004
Financial Daily from THE HINDU group of publications Thursday, Jun 17, 2004 |
||
|
|
||
|
Home Page
-
Infrastructure Logistics - Airlines New empowered GoM soon — Fillip likely for Mumbai, Delhi airport revamp Our Bureau
New Delhi , June 16 THE Government move to reconstitute the empowered Group of Ministers (e-GoM) in the next couple of days is likely to see the proposed modernisation and restructuring of Delhi and Mumbai airports getting a fillip. Sources indicated that the e-GoM will have to take a view on a number of important issues including the decision of the Ministry of Civil Aviation to cap the foreign direct investment (FDI) ceiling of parties bidding for the modernisation of the two metro airports at 49 per cent. The United Progressive Alliance Government had rolled back the FDI cap for modernisation and restructuring of Delhi and Mumbai airports from 74 per cent to 49 per cent earlier this month. "It is only after the e-GoM has been reconstituted and convened can a final decision on the modifications which have been made to the document be taken," official sources said. However, the proposed reduction in the FDI cap for the proposed restructuring and modernisation of the two metro airports is unlikely to be overruled by the e-GoM, sources said. "Most countries, including a developed nation like Australia, had limited the FDI cap at 49 per cent for Sydney airport," officials said. On the issue of the members of the e-GoM to consider the issue connected with the aviation sector, officials indicated that there were bound to be some changes in its composition. "The e-GoM constituted by the previous Government had the Minister for Disinvestment as a member. But now that Ministry has been disbanded. So, obviously some changes will be there," officials said. The e-GoM under the NDA Government included four Ministers, namely, the Ministers for Finance, Disinvestment, Civil Aviation, Commerce and Industry & Law and Justice. Besides, the e-GoM will also have to take a decision on the appointment of Global Technical Advisors for the restructuring of the airports.
More Stories on : Infrastructure | Airlines
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|