Thursday, September 24, 1998
Belated wisdom
The International Monetary Fund has joined the growing chorus of voices calling for controls on capital movements. The Asian crisis, which has now become a worldwide financial conflagration, and sparked fears of a global depression, has led to a reappraisal of the long-held views of the so-called Washington consensus.
A positive step
The losses caused to the farming community as a result of the recent spate of natural calamities in different parts of the country appear to have aroused the government's sympathy. It has responded in good measure by a volte face on the issue of DAP price decontrol just about a week before the start of the rabi season.
BPL's shareholder value falls short
BPL's official communication to its shareholders for 1997-98 was a desperate attempt to salvage the company's image in the capital market. Besides quantitative data, some it has sought to inform shareholders its estimate of shareholder value, the value of its intellectual capital and its compliance with the CII recommendations on corporate governance.
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