Talks between Enron Corporation and the expert panel set up by the Maharashtra Government began today. However, the Government has apparently failed to convince Enron officials to unilaterally withdraw arbitration proceedings in London. “No pre-conditions have been set by either side,” said the Chief Minister, Mr. Manohar Joshi. The Government was no longer insisting that arbitration be withdrawn by Enron Corporation. He insisted it was “not a climbdown” by the Government. Asked when the issue would be resolved, Mr. Joshi said “let some period pass.”

Delayed mining norms put off foreign investors

The inordinate delay by the Mines Ministry in finalising guidelines for mining has cost the country dear in terms of foreign investments. Even a year-and-a-half after amending the Mines and Minerals Act, 1957, there is not a trickle of actual investment, mainly because of the uncertainty regarding the conditions of investment in this country. The recent transfer of mining lease from the National Minerals Development Corporation to a private company and the reduction of the area leased to the Tatas in Sukhinda have done little to quell such uncertainties.

20 p. c. import duty on naphtha opposed

The petrochemical sector has strongly opposed the proposal put forth by the Ministry of Petroleum and Natural Gas of imposing 20 per cent duty on the import of naphtha by early next year. The industry feels with the reduction of duties, products can be procured from the international market at a much lower price. Hence, to make the domestic industry cope with the competition from international suppliers, the input costs should be kept lower as far as possible.

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