The Finance Ministry is in the process of finalising a model document to clearly define the kind of payments to be covered, the period of guarantee and the ceiling of guarantee amount to settle the controversy over the Centre’s counter guarantee for private power projects. Such a step has become essential for while all project promoters under the private power development policy are clamouring for the Centre’s counter guarantee to cover the risks involved in repayment of their dues from the various State electricity boards (SEBs), the magnitude of the risk exposure or payments involved under the guarantee is enormous.

IA engineers call off strike

The striking engineers of Indian Airlines on Wednesday called off their 10-day-old ‘work to rule’ agitation following an agreement with the management. “We are happy with the agreement”, Mr. J. S. Chabbra, general secretary of the All-India Aircraft Engineers Association (AIAEA) announced soon after signing the agreement... The management claimed that the engineers had given up their demand seeking parity with the salaries of Air India employees.

NSE trial run from today

Over 100 member-brokers and their investors will have a first-hand experience of a paperless securities trading when the National Stock Exchange (NSE) authorities switch on their computer network here on Thursday for a trial run. The network based on high-speed telephone line of MTNL, will provide an instance match-making mechanism between buyers and sellers of securities, bonds and shares through the main-frame computer of NSE situated at Worli in south Bombay.

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