Business & Economy

Aviation fuel monopoly
on the way out 

What is India News Service, Tuesday, 7 December 2004, 100 hrs IST


Civil Aviation Minister Praful Patel on Monday indicated that the days of public sector monopoly in supply of aviation turbine fuel (ATF) were numbered.

He said during a session on aviation at the India Economic Summit here that liberalisation in ATF would bring down rates, one of the major contributing factors to airlines' high operating costs. The high cost of ATF was hampering the growth of the sector in the country. ATF at present accounts for nearly 30 per cent of domestic carriers' costs, he pointed out.

As for the civil aviation policy, he said it would be put before the Cabinet next month. A regulator -- as proposed by the Naresh Chandra committee on a roadmap for civil aviation -- was also in the offing even though the sector had not "really matured" as yet. "But the numbers are growing" rapidly, he pointed out.


He said the high cost of ATF was hampering growth of the aviation sector in the country "The government is also working out ways to bring down the cost of ATF by reducing the duty imposed on the fuel," he said.


He said the aviation policy would look at providing a more "level-playing field" for the new entrants as well as the existing players. 


CPM wants TRAI chief's scalp for grey market 'scam': In A blistering attack on the functioning of the telecom sector, the CPI(M) on Monday mounted pressure on the Centre to remove Pradeep Baijal as chairperson of the Telecommunications Regulatory Authority of India (TRAI) and order a full-fledged probe into the sector's grey-market scam.


Ambani family asks Mukesh for ownership details: The Ambani family has asked the Reliance Industries chairman, Mukesh Ambani, to furnish "appropriate details" of the ownership issues.

Increase in agri investment a must, says Montek: Legislative and policy changes for agricultural growth, substantial hike in investments in education, health and infrastructure and increasing accountability of local authorities are imperative to achieve the targeted 7-8 per cent growth rate, said planning commission deputy chairman Montek Singh Ahluwalia at the India Economic Summit.

Dirdh Commercials hold key to RIL ownership: A new twist to the ongoing ownership tussle between the Ambani brothers have emerged regarding the shareholding pattern in Reliance Industries. Investigations carried out by CNBC moneycontrol.com narrates the untold story about the web of holdings and cross-holdings in Reliance Industries and how much is held by whom. 


REL forms executive council under Anil: Reliance Energy Ltd has constituted an eight-member executive leadership council (ELC) led by chairman Anil Ambani and comprising four directors, who had earlier tendered their resignations, to "provide a continuity of leadership and strengthen the organisation". 


PSU monopoly in ATF to go, says Patel: Civil Aviation Minister Praful Patel on Monday indicated that the days of public sector monopoly in
supply of aviation turbine fuel (ATF) were numbered. 


Kingfisher Air to takeoff with 2k seats a day: Kingfisher Airlines of the UB Group will enter the skies in April with a daily offering of 2,000
seats, going up to 8,000 seats by the end of the year. 


Rupee hits 8-mth peak against $, ends 49-p higher: An unprecedented 49 paise rise on Monday drove the rupee to a nearly 8-month closing peak of
Rs 43.64/65 per dollar, buoyed by bunched up weekend dollar supplies from robust foreign fund and trade inflows amidst a sliding dollar overseas. 


 

Business papers 


Business Standard
Economic Times
Business Line
Financial Express