PSU separation scheme to get alluring look

The Government is set to modify the existing voluntary retirement scheme (VRS) in force in public sector units by incorporating an enhanced compensation criterion for employees in sick units that have been kept out of PSU wage revision exercise in 1992 and 1997. Sources said that the Government is considering offering as much as 50 per cent higher compensation than is currently available to other ailing units under the May 2000 VRS.

Tata Tele, Hughes wedding delayed

The first mega merger-to-be in basic telecom services between Tata Teleservices Ltd and Hughes Tele.com, announced early last month, appears to be facing a rough weather. According to industry sources, although a memorandum of understanding (MoU) was signed between both the groups for combining their basic operations over a month ago, the modalities are yet to be worked out. They have been unable to reach an agreement on the basic framework of the merged entity, the sources said.

No lifting of Dabhol power till rebate issue is solved’

The Maharashtra State Electricity Board has ruled out the possibility of lifting power from Dabhol Power Company's (DPC) phase-I, until the Rs 706-crore rebate issue is settled. Mr Vinay Bansal, MSEB Chairman, said lifting of power would be considered only after the rebate issue, which is part of the PPA, is resolved. Mr Bansal was speaking at the press conference announcing MSEB's tariff proposal to the State Electricity Regulatory Commission (MERC) here on Sunday. The board has asked for a 19 per cent increase in tariffs.

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