A coal ‘scam’ at Karnataka Powver Corpn

The cash-strapped Karnataka Power Corporation (KPC) has spent Rs. 24.30 crores on the import of 90,000 tonnes of coal since December 1995 for the Raichur Thermal Power Station (RTPS) — even though an equivalent quantity of domestic coal was available to it for only Rs. 10.35 crores. The State Government and KPC have been crying themselves hoarse that the coal stocks at RTPS had dropped to below a day’s need and that the power station has been leading “a hand-to-mouth existence”owing to an acute coal shortage and the non-availability of railway wagons. Coal India and the South Central Railways have respectively refuted these contentions.

Exim Bank guarantee facility for banks

Exim Bank of India will provide guaranteecum- refinance facilities to at least 10 commercial banks next month. Exim Bank officials told Business Line the bank had received several enquiries for the facility and hoped to extend it subsequently to more banks. The new guarantee-cum-refmance programme would help exporters in case of default by overseas buyers.

Air-India MD for evolving wage policy

The Indian Pilots’ Guild (IPG) has virtually agreed to drop the controversial “shortfall allowance” clause in its agreement signed with the Air-India management in October 1994 provided pilots are given salary and allowances totalling not less than what they have been receiving till now. The IPG’s agreement with the Air-India management, provided for a unique “shortfall” clause which entitled senior commanders to receive flight bounties not less than what junior pilots received even when the senior pilots did not undertake any flight duty.

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