Mr Naik said the ministry is considering a proposal to speed up the dismantling of the administered price mechanism as the system is scheduled to end by 2002. He also reiterated the government’s stand that diesel and LPG prices may have to be increased if international prices continue to go up.

Meanwhile, oil prices hit a nine-year high in the world markets after leading oil producers decided to maintain supply curbs until April 2000. Brent blend crude futures for January 2000 touched $25.09 a barrel, the highest since January 1991.
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LIC Housing to offer 3 new schemes
Mumbai: LIC Housing Finance is launching three consumer loans schemes. The schemes are Sampurna Griha A and Sampurna Griha B, which will provide loans for its new and existing housing loan takers to buy consumer durables. The third scheme is Apna Chikitsalaya, which is for doctors to finance purchase, construction, repair or renovation of nursing homes or clinics. The interest rates under these schemes have been pegged at lower levels – 13.5 per cent against the normal bank interest rates of 17 to 18 per cent.
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Catholic Syrian integrates treasury
Kochi: The private sector Catholic Syrian Bank has commenced integrated treasury management from Kochi. It will be the first bank in Kerala to initiate such a move. This will help the bank to offer a better price both to depositors and borrowers. The bank’s domestic treasury department dealing in money, capital and securities market has been functioning from Thrissur and its forex treasury dealing in foreign currency investment operations has been functioning from Kochi. The bank has now combined the domestic and forex treasuries.
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