Govt approves amendments to Payment and Settlement Systems Bill, 2006

The Union Cabinet today approved making amendments to the Payment and Settlement Systems Bill, 2006 based primarily on the recommendations of the Standing Committee of Parliament on Finance, already introduced in Lok Sabha.

New Delhi, Aug 23 : The Union Cabinet today approved making amendments to the Payment and Settlement Systems Bill, 2006 based primarily on the recommendations of the Standing Committee of Parliament on Finance, already introduced in Lok Sabha.

The amendments would ensure a safe, secure and sound payments system.

At its weekly meeting here, the Cabinet also gave its approval for revival of company NEPA Limited through a Joint Venture Partner in private sector by disinvestment of Government of India's equity, preferably to the extent of 74 percent or 100 percent, and introduction the NEPA Limited (Disinvestment of Ownership) Bill, 2007.

The Cabinet further gave its approval for requesting BIFR to locate a Joint Venture partner and issue appropriate orders in this regard.

A Bill namely, the NEPA Limited (disinvestments of Ownership) Bill, 2007 will be introduced in the coming session of the Parliament.

The other approval given by the Union Cabinet today are following:

i) Setting up of six National Institutes of Pharmaceutical Education and Research (NIPER) at Hyderabad (Andhra pradesh), Ahmedabad (Gujarat), Hajipur (Bihar) Guwahati (Assam), Raibareilly (U.P.) and Kolkata (West Bengal).

ii) Commencing some courses at four locations of New NIPERs from the current academic session i.e. September, 2007 with the assistance of Mentor Institutes.

iii) Continuation of courses under the present arrangements from the plan budget for two years i.e. 2007-08 and 2008-09 and preparation and preparation and approval of the Detailed Project Reports (DPRs) by the Competent Authority.

iv) Appointment of a Consultant of repute to prepare the DPR for each NIPER wherever possible on the Public Private Partnership model.

v) Pending the constitution of board of Governors under the NIPER Act 1998, an Apex Steering Committee under the Chairmanship of Secretary (C and PC) to oversee the functioning of these NIPERs may be set up.

This decision will facilitate training of high caliber pharmaceutical experts and award of Masters degrees to cater to the demand of pharmaceuticals industry, academic institutes and the pharmacy profession.

ANI