The US has lodged a complaint with the WTO against the European Union's new import tariff valuation system for grains. This has come as a shotin- the-arm for brown basmati rice exports from India. It is understood that Pakistan and Thailand are also planning to follow the US while India has indicated to the WTO Secretariat that it should also be permitted to present its case if the issue is heard by a disputes settlement panel of the WTO.

Enron issue may hit foreign funds,says Manmohan

The Union Finance Minister, Dr. Manmohan Singh, has said the scrapping of the Enron power project by Maharashtra might affect foreign investments. It might have its impact on the investment climate in the country “but we will somehow manage.” He added that it should, however, be ensured that the review of the deal by the Maharashtra Government had been impersonal and objective. Dr. Singh was speaking to presspersons after addressing the concluding session of the three-day Bihar Rajya Stariya Sammelan at the Chhotanagpur Khadi Gramodyog Sansthan at Tiril.

BIFR to have more teeth

The Board for Industrial and Financial Reconstruction has decided to intensify its mechanism to monitor revival schemes, to ensure that banks, financial institutions and the promoters strictly adhere to its diktat. BIFR Chairman, Mr. R. R. Gupta, said that plans are being formulated to bolster the monitoring cell by substantially increasing the number of officers involved in keeping tab on the progress of the revival packages. The board proposed to attach a few officers with the exclusive responsibility to monitor cases to each of its four functioning benches.

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