Financial Daily
from THE HINDU group of publications

Wednesday, July 04, 2001





Bt cotton seed trials -- Government does a Seattle
ABOUT a year-and-a-half ago, in December 2000, unruly crowds scuttled the ministerial WTO conference in Seattle. Most discerning people were disturbed at the sight of sundry NGOs turning rowdy. However, a celebrated columnist of the Sunday Times, otherwi se known for his liberal stance, suggested that Seattle had probably produced an instrument that could prove useful to such countries as India that enjoyed little support at the WTO negotiating table.

The article ``Countering global economic slowdown'', which appeared on July 3 (Tuesday), was written by Mr Susobhan Goswami, and not Mr Vivek Uniyal. The error is regretted.

Betrayal of trust
THE UTI DECISION to suspend sale and repurchase in its flagship US-64 comes as a nasty shock for millions of retail investors.

Mutual Funds

US-64: Brand goes bust
THE Unit Trust of India is at it again. Last year it betrayed young girls when it announced the closure of its much-vaunted Rajalakshmi scheme. This time round, its victims are a motley mix of investment savvy corporates, senior citizens, yuppies on the fast-track and others who naively believed that the UTI would not back out of its commitments to them under its flagship Unit scheme-1964.

BY AN order issued on May 24, the Union Ministry of Home Affairs directed ``every householder or other person'' to report to the officer-in-charge of the nearest police station about the ``arrival or presence in his household or in any premises occupied by him or under his control, of any foreigner, if he knows or has reasons to believe that he is a foreigner''. The Government has clarified that the word `foreigner' also includes persons of Indian origin who hold foreign passports. Non-compliance with t he order would attract punitive action, with imprisonment up to five years or a fine or both.

Clothing blackmail in legality
THOUGH no notice will be taken of Mr Slobodan Milosevic's refusal to recognise the jurisdiction of the war crimes tribunal at The Hague, his arrest and trial raise important and disquieting questions of legal and political significance.

Revenge, arrests, videotapes...
THE messy arrest of the former Tamil Nadu Chief Minister, Mr M. Karunanidhi, might be behind us. And damage-control exercise might have begun from the Jayalalithaa government which, obviously, does not want to give the NDA Government at the Centre any mo re excuses to impose President's rule in the State.

Planning and innovation in R&D
DEVELOPMENT and change are the mantras of life. Science has managed to decode the ``book of human life''. To continue the success in scientific, technological and social endeavors in the coming years, the role of research and development (R&D) cannot be overstated. For a firm, R&D is useful to generate innovative ideas associated with design, quality and process control, technical assistance to production and customers, or with pure research.

Waste to energy, or waste of energy?
WITH regard to the article ``Municipal solid waste processing: The Chennai experience'' (Business Line, June 13), it is indeed heartening to note the author's conviction towards a clean environment, when he supports the suggestions of the Tamil Nadu Poll ution Control Board Chairperson on tackling garbage with source segregation. Further, he has pointed out that systemic Government delays have several resultant impacts, including high costs.

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