Sugar delicensing on the cards

Delicensing of the sugar industry seems to be on the cards with the increasing political support forthcoming from the United Front Government. “The Government is studying the pros and cons of sugar delicensing and all aspects would be examined before a final decision is taken by the Cabinet. Our intention is to prune the controlled list of 15 items, which includes sugar,” the Industry Minister, Mr. Murasoli Maran, told Business Line here today. The Food, Civil Supplies and Commerce Minister, Mr. Devendra Prasad Yadav, said that the Food Ministry was seriously considering the issue. “We will examine the matter thoroughly and I will go to any extent to protect the larger interests of cane growers, ” he said.

Fresh HMT bid to hawk watch division

Public sector giant, HMT, is making a renewed effort to rope in a partner from the private sector in a bid to revive its watch division. The company is now planning to invite bids from the private sector to hawk its watch division. Several investment banks have already made a presentation to the HMT management on a possible structuring of the privatisation of this line of business. The renewed bid to privatise the unit comes in the wake of the company's decision to break off talks with a French company, ISA, last year.

Cogentrix project clears last hurdle

The Mangalore-based 1,000 MW fast-track Cogentrix power project today cleared its last hurdle by getting the long-pending environmental clearance directly from the office of the Prime Minister, Mr. H. D. Deve Gowda. Informed sources said it was a move certain to hearten international investors and attract foreign capital since Mr. Deve Gowda had sent one of his first concrete policy signals.

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