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Drumbeat: Ad Buzzaar
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| Tuesday, July 14, 1998
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Ryutaro Hashimoto: Down and out |
Cogentrix PPA may be reopened again
The financing of the Rs 4400-crore, 1000mw Mangalore power project of Cogentrix and CLP Power International will suffer a serious setback and its power purchase agreement (PPA) may now have to be re-opened for the fourth time. This follows the decision of the Union finance and power ministries to withdraw the counter-guarantee cover for monthly payments by the state electricity boards (SEBs) along with new norms like income-tax on bonus generation and tariff heat rate under the revised counter-guarantee terms for the fast-track power projects.
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Divestment panel to decide on recommendations soon
The core group of secretaries on disinvestment, headed by cabinet secretary Prabhat Kumar, has decided to meet again next month to finalise its recommendations. The government had decided to divest equity of four public sector undertakings this year to realise Rs 5,000 crore from disinvestment.
Brawl in LS over women's quota
A bill which would have been the first of its kind anywhere in the world was reduced to a crumpled piece of paper yesterday as male members of the Lok Sabha stalled the introduction of the Women's Reservation Bill. About 50 MPs of the Samajwadi Party, Rashtriya Janata Dal, Bahujan Samaj Party, Indian Union Muslim League, National Conference, Republican Party of India, Janata Party and Independents, rushed to the Well of the House repeatedly muscling the marshalls away and ensuring no business was transacted.
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