New Sick Industries Bill Likely To Be Introduced Today: Fm

The government is likely to bring a bill in the current session to replace the Sick Industrial Companies Act (Sica) which has become ineffective in dealing with industrial sickness, the Rajya Sabha was informed yesterday.

Replying to supplementaries, finance minister P Chidambaram said the Sica was not effective in dealing with cases of industrial sickness and government is bringing a new law for sick industries.

The cabinet has given its approval and I hope to introduce the bill in the Lok Sabha tomorrow, he said.

Iran pipeline: The Pakistan government has not yet given permission for the route survey of the proposed Iran-India gas pipeline, which would pass through the exclusive economic zone of Pakistan, minister of state for petroleum and natural gas, T R Baalu, informed the Rajya Sabha today.

In a writteen reply, he said the Pakistan government had not formally expressed any interest in participating in the project, although the Indian government has requested it to expedite the clearance of the pipeline route survey.

Investment: Chidambaram asserted that foreign investors continued to repose confidence in the United Front government despite political upheavals and uncertainties and hoped to achieve the targeted foreign investment inflow of 10 billion US dollars.

Oil: Prime Minister Inder Kumar Gujral yesterday said achievement of self-sufficiency in production of petroleum would depend on good luck.

Replying to supplementaries in the Rajya Sabha, Gujral said everything depends on good luck and warned that the gap between the countrys needs and its production of petroleum products was widening.

Tata-SIA: Members in the Rajya Sabha yesterday stoutly opposed any move to allow foreign airlines to run domestic air operations, warning that it would mean the death knell of Indian Airlines and would harm national interests.

LOK SABHA

A five-member committee to negotiate with the Maharashtra government for securing sale of excess land of textile mills has been set up by the Lok Sabha speaker, minister of state for textiles R L Jalappa informed the Lok Sabha. Replying to a discussion on problems of textile mills, he said Rs 2,005 crore was expected from the sale of land. The sale in Mumbai alone was expected to net Rs 1,946 crore. The panel has Jalappa as its chairman. Ram Naik (BJP) and Madhukar Sirpotdar (Shiv Sena) are members.

Acquaculture: The government will take into confidence the concerned members on the introduction of a bill in Parliament in the light of the Supreme Court order on the demolition of aquaculture farms and its subsequent stay till July 30, parliamentary affairs minister Srikant Jena told the Lok Sabha. Responding to members queries on the issue during zero hour, Jena said this issue was discussed at an all-party meeting in which the agriculture minister, Chaturanan Mishra, stated that there was some kind of opposition to the introduction of the bill from some members.

DoT Tenders: Government yesterday denied in the Lok Sabha that the tenders floated by the Department of Telecommunications (DoT) for 2.99 million new technology switches in two phases would benefit certain multinational cartels and result in heavy losses for the department.

Responding to supplementaries during question hour, communications minister Beni Prasad Verma said about 50 MPs had jointly requested the government to cancel the tenders opened by DoT in March last year.

Kelkar panel: The finance ministry and the planning commission are considering the recommendations of the Kelkar committee, which had suggested a capital injection in the Indian Airlines, Lok Sabha was told yesterday. The civil aviation minister, c m ibrahim, said in a written reply that since the recommendations of the committee involved a large amount of financial implications, the matter has been taken up with the ministry and the commission.