The Prime Minister, Mr. P. V. Narasimha Rao, today set up a one-man enquiry to probe into the sugar muddle and fix prima facie responsibility for lapses, if any, which led to a sharp increase in sugar prices. The enquiry is to be conducted by the former Comptroller and Auditor General of India, Mr. Gian Prakash, who will submit his report to the Prime Minister within a month. The investigation will be a “preliminary administrative enquiry to ascertain facts”.

ONGC mega issue hanging fire

The proposed Rs. 3,500-crore mega issue of the Oil and Natural Gas Corporation (ONGC) has run into serious trouble due to the employees demand for a higher quota of shares. The employees are demanding a minimum of 600 shares each against the Securities and Exchange Board of India’s guidelines permitting only 200 such shares. The issue has become a bone of contention within the Government with the Petroleum Ministry backing the employees and the Finance Ministry, the Planning Commission and the Department of Public Enterprises stoutly opposing it.

Intel in tough battle marketing Pentium

Intel Corp is finding that winning the world over to its latest generation computer chip is no easy task. Analysts and retailers say that by and large the speedy chip introduced last May has been a success — just not the runaway blockbuster many had expected from the savvy Intel. “The move to Pentium is definitely accelerating, but not at a breakneck pace,” said Mr. Pat O’Horo, a marketing director at Tech Data Corp, a major computer distributor. Intel is the world’s largest chipmaker.

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