Having passed a Bill to denationalise public sector banks through partial disinvestment, the Government is now planning to introduce legislation that will enable State finance corporations (SFCs) to disinvest 49 per cent of their equity to the public. A Bill seeking to amend the SFCs Act has been introduced in Parliament, and is expected to be passed soon. The Bill, based on the recommendations of the Review Committee on SFCs Act chaired by Mr. S. H. Khan, Chief Executive Officer of the Industrial Development Bank of India, proposes major changes in the composition and working of SFCs to bring them in tune with the emerging economic environment.

Postal rates likely to be increased

Postal rates are likely to be increased to bring them ‘a little closer to cost price’, Mr. T. E. Raman, Secretary of the Department of Posts, said on Saturday. Talking to newsmen after inaugurating a Speed Post Business Centre here, Mr. Raman said his department had made out a strong case to hike the tariff to reduce strain on postal resources.

IA hits airpocket as discontent spreads

Indian Airlines is getting into a serious situation with the executive engineers and junior pilots demanding their pound of flesh. Meanwhile, in a bid to minimise losses, the management has decided to curtail its operations drastically, pulling itself out of lossmaking routes and only linking up with State capitals and inaccessible destinations like Jammu and Kashmir, the North East & the Andamans. The executive engineers have threatened non-cooperation if any decision of the management, aimed against striking non-executive pilots, harmed their interests.

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