january 15, 1995

The latest round of disinvestment in public sector enterprises, bidding for which opened on January 11, includes four companies in which the Government is disinvesting for the first time. They are Engineers India Ltd. (EIL), the Gas Authority of India Ltd. (GAIL), the India Tourism Development Corporation Ltd, (ITDC) and the Kudremukh Iron Ore Company. These companies are hitting the market along with the Videsh Sanchar Nigam Ltd. (VSNL) and Indian Oil Corporation (IOC), which have already disinvested and are being quoted on the stock markets. The current round of disinvestment is being done in a very short time and the notice to potential investors has also come just three days before the issue opens for subscription.

Sugar re-export banned

The Government has banned re-export of sugar imported by private traders in a bid to keep open market prices under check. This has been done by amending the Exim policy to add sugar to the list of restricted items whose exports are permitted only under licence. An official notification in this regard was issued here on Friday by the Director General of Foreign Trade (DGFT).

Apollo Hospital to start health maintenance co.

The Apollo Hospital group will launch a Rs. 100-crore health maintenance company to promote preventive and health delivery systems. This could be a wholly-owned subsidiary of the Indian Hospital Corporation. The details are yet to be worked out. The Medical College of Pennsylvania and Hahnemann University Chancellor, Mr. Iqbal F. Paroo, will collaborate with the Apollo Hospital Chairman, Dr. Pratap C. Reddy in this venture.