The Government has announced an upward revision in the coal prices of Coal India Ltd and Singareni Collieries Ltd with effect from June 1. According to an official release, the revised average price of CIL coal would be 5.25 per cent more at Rs 401 per tonne, against Rs 381 per tonne till the revision. Coal from the Singareni Collieries would cost Rs 503 per tonne, which is Rs 21 per tonne more than the earlier price of Rs 482 per tonne, representing a 4.36 per cent hike. The impact of the price hike on the wholesale price index has been estimated to be around 0.13 per cent.

MNCs want flexible telecom tariff

Multinationals have sought for a “flexibility” in tariff as a pre-condition for entry into basic services and want the Government to allow foreign majority ownership in the new operating companies. This goes much against the pronouncements of telecom minister, Mr. Sukh Ram, not to make tariff an issue. While some MNCs have given these demands in writing to the Minister, some have informally conveyed to the Telecom Commission that unless there was flexibility in tariffand they were allowed to run long-distance services, it would not be financially feasible for them to invest in India.

New schemes to come under SEBI

Only new schemes of the Unit Trust of India (UTI), floated after July 1, 1994, will come under the purview of the Securities and Exchange Board of India (SEBI). The UTI will continue to be regulated by the UTI Act, 1964 till suitable amendments are made, according to Mr. K. N. Atmaramani, Executive Trustee, UTI. The clarification has to be viewed in the context of the Company Law Board’s observation that the UTI does not fall under the SEBI’s purview.

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