INDIA plans shortly to begin a new round of privatization, selling off shares of several major state-owned companies while retaining overall government control in the enterprises, officials said Sunday. The government said last year it hoped to raise 35 billion rupees ($1.13 billion) by selling the shares.
Officials said the government would put part of the equity of seven major state-owned companies on the block before the end of the current 1993/94 (April/March) fiscal year.
The seven include the country's largest steelmaker, the Steel Authority of India, Hindustan Petroleum, Bharat Heavy Electricals Ltd., Hindustan Machine Tools Ltd., Bharat Petroleum, Hindustan Zinc Ltd., and Bharat Earth Movers Ltd.
India has moved slowly since launching economic reforms in 1991 to shed part of its holdings in 237 state-owned firms, 104 of which lost money in 1992/93. China puts limits on satellite TV
CHINA published details yesterday of its restrictions on satellite television, strictly limiting the organizations allowed to install dishes and banning most individuals from tuning into foreign broadcasts.
The rules from the Ministry of Radio, Television, and Film, published in the official People's Daily, are the latest in a series of measures which the Communist leaders have taken to tighten their grip over the flow of information. Last week Beijing published details of new computer security regulations requiring government approval before any user accesses international information networks.
The television crackdown, first announced last October, is aimed at quashing the rising popularity of foreign TV programs. The programs include Hong Kong and Taiwan melodramas and foreign news programs. The only units allowed to receive overseas television via satellite are high-profile public institutions such as financial, media, and educational organizations that have a direct need for the information in their work.