Suzuki offers to buy rights

Suzuki Motors of Japan, the 50: 50 joint venture partner in Maruti Udyog Limited (MUL), has made a fresh offer to subscribe to the entire rights issue of Rs. 150 crores with the proviso that the Centre will have the option to buy back its share worth Rs. 75 crores within a period of three to five years. The proposal, now being examined by the Ministry of Finance and if found acceptable, will be placed before the Cabinet Committee for Economic Affairs for final approval. By this, Suzuki will become the majority shareholder, at least till the time the Government buys back its legitimate share of the equity.

New retail price declaration system on anvil

The Ministry of Civil Supplies is considering the introduction of a new system of declaration of retail prices on pre-packaged commodities. It is also planning to introduce a code of conduct for voluntary consumer organisations. Intensifying its drive to protect consumer interests, the Ministry has appointed an expert committee to review and suggest the best method of declaration of retail sale price on pre-packaged commodities.

Sustaining export growth

After a harrowing time in the Lok Sabha where he faced the onslaught of a united opposition on the emotional issue of GAIT, the Commerce Minister, Mr. Pranab Mukherjee’s statement on changes in the Export and Import Policy (1992-97) may have come as a welcome breather to him. But to many who are watching India’s essay towards globalisation, it is just another of those mandatory punctuations. To Mr. Mukherjee’s credit, there is very little in the changes that might hurt the export effort.

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