Rlys plan to exploit prime lands shelved

The Railways’ proposal to commercially exploit its prime real estate in metres to boost its sagging revenue appears to have been shelved temporarily. The Union Minister for Railways, Mr. C. K. Jaffer Sharief, told Business Line that a decision in this regard has been deferred in view of the controversial nature of the proposal. The issue was first mooted two years ago, when the Railways proposed commercial exploitation of its lands in Bandra in a pilot project to supplement revenues. This was referred to a Committee of Secretaries which, in turn, recommended that the Ministry of Urban Development examine the issue and prepare a note to the Cabinet. This note was put up to the Cabinet for its approval last week. However, in view of the sensitive nature of the issue, the Cabinet is said to have decided to refer the matter to a ministerial group.

Pranab’s directive to Ministry officials

The Commerce Minister, Mr. Pranab Mukherjee, has directed the officers of his Ministry to initiate action on a time-bound basis sector-wise to accelerate exports and to ensure that the target of 25 per cent growth in dollar forms envisaged for 1994-95 is achieved. The Minister asked the officers to give specific proposals on the action required to be taken either by way of policy changes, procedural simplification or introduction of incentives that the desired growth levels could be ensured in the part of the financial year. The sectors covered in the review included engineering, gems and jewellery, chemicals, textiles and agricultural and allied products. About the Export Promotion Industrial Park (EPIP) Scheme, cleared by the Cabinet, Mr. Mukherjee said that detailed project reports for such parks had been received from 10 States.

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