january 27, 1995

Maruti Udyog Ltd (MUL), then a Government company, got away in November 1993 with zero customs duty on its imported capital goods for manufacturing newer versions of cars including the Zen. It, however, had to undertake an export obligation which was seven times the value of capital goods imported at zero duty. But the Tata-Mercedes Benz venture, which proposes to make Mercedes Benz 220 E-Class cars at Pune from April/May 1995, is still struggling to get the same “ad hoc zero duty facility” even after the venture has agreed in writing to undertake the same export obligation slapped on MUL.

Govt. to support ‘open ground policy’

The Open Sky Policy is now being supplemented by an Open Ground Policy in the area of civil aviation according to the Secretary for Civil Aviation, Mr. Yogesh Chandra. Addressing the Confederation of Indian Industry (CII) meet on Travel & Tourism on Wednesday, he said that the Government was keen to receive proposals from the private sector to set up international and/or domestic airports in the country. He welcomed the private sector to take up one or more of the ground services at the airports and their peripherals.

Marlboro lifts Philip Morris

Food and tobacco giant Philip Morris Cos. Inc., on Wednesday, reported sharply higher earnings for the fourth quarter and year, paced by a solid rebound in the Marlboro maker's cigarette operations. The New York-based company, which makes Kraft cheese, Miller beer and a wide range of other consumer products, said fourth quarter net income more than tripled over the prior year, when results were depressed hit by special charges.

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