reasonable rates. “However, this is not a favourable situation, and should be avoided,” industry experts said. Sources argued that the benefits of attaining self sufficiency in refining capacity are not being reaped as the domestic refineries cannot function at optimum margin levels under the given duty structure. Had the duties on crude been lower, refineries would be encouraged to import and produce. “Buying crude at $24 a barrel may still allow you to make your margins, but when you pay an additional $3 just as duties, selling products become unviable.” In an update on an earlier story…The Government will soon come out with a clear-cut policy to allow more foreign airlines to operate from India after carefully looking into the demands of both Air India and the tourism sector, Civil Aviation Minister Sharad Yadav announced. The ministry is planning to expand the entire civil aviation industry to boost tourism and create more international standard airports. From Smaller airports in Bihar to heritage sites like Kushinagar and Gaya upgrades are happenning and more places are being put on the avation mapInterestingly the ministry was open to the idea of either domestic or foreign firms undertaking the contract .INDIANS, it is believed, consume more Scotch whisky than is bottled in Scotland. Unfortunately, quantitative restrictions limit consumption to whatever can be pick ed-up at the duty-free or the bootlegger. The day is nigh when scotch drinkers will ber able to buy Johnny Walker, Chivas Regal and J&B in India, legitimately. The government has decided to phase out QuantRes on the import of foreign liquor by the end of the year. Bad news for the local distillers though. Most of them are clamouring for high tariffs. United Breweries and Shaw Wallace & Co regard imports as a major threat to their market share. The domestic liquor market sells approx 75 million cases a year. UB has a 34 per cent market s...
