Trai defers further rounds of tariff cut
New Delhi: The reconstituted Telecom Regulatory Authority of India (Trai), now under the leadership of the ex-chairman of the State Bank of India, Mr. M. S. Verma, today announced its first major decision.

It decided to defer, until July 2000, the second round of reduction in telecom tariffs, which included reduction in long distance STD/ISD charges. The Trai will now review the entire tariff re-balancing exercise that was done in 1999.

The decision to defer the reduction was taken on the basis of a representation made by the Department of Telecom Services (DTS) which said that any further reduction in the long distance rates would further erode the department’s profitability and it would not be able to finance the planned expansions.
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Ernst & Young to script corporate governance code
Calcutta: In an era of enhancement of shareholder value and greater transparency in management being propagated by noted management practitioners like Mr. Narayan Murthy of Infosys, noted management consulting firm, Ernst & Young, has tied up with the Indian Institute of Management, Calcutta to create a code for corporate governance.

The code, which acknowledges that corporate governance is not merely a prescription pill of regulations available over the counter, seeks to inventorise existing practices in enterprises and chart a path for these enterprises to migrate to international best practices without turmoil.

It is hoped that the code being written would combine the best of the academic experts at the institute with the expertise and knowledge base in the consulting firm to produce a comprehensive benchmark for companies to tailor their corporate governance programs.
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