Home' Trinidad and Tobago Guardian : August 21st 2013 Contents A19
Wednesday, August 21, 2013 www.guardian.co.tt Guardian
The public is hereby notified
that Crochet Explosion pro-
poses to apply to the
Authority (EMA) for a
Variation in accordance with
the Noise Pollution Control
Rules 2001 for the
Date of Event/Activity:
Saturday 28th September,
Description of Event/Activity:
Address of Event/Activity:
Duration of Event/Activity:
The public is invited to sub-
mit comments within 5 work-
ing days of the publication of
this notice to the EMA.
Deadline date for
application: 6th September 2013
Apply in writing to:
The Human Resource Manager
Eniath's Printing Co. Ltd.
6 Gaston St., Lange Park,
Applicants are also required to submit a copy of the application to:
Ministry of Labour & Small and Micro Enterprise Development,
50-54 Duke Place, Duke Street, Port of Spain.
Eniath's Printing Co. Ltd. is
- Heidelberg Offset Press Operator
- Sales Representative
- Bindery Superviser
- Graphic Arts / Prepress Technician
- Maintenance Staff
Experience would be an asset
Provision of Metro Ethernet/WAN Services for
the Ministry of National Security, Government
of the Republic of Trinidad and Tobago
(GORTT) Inter-American Development Bank
(IDB) Loan No 1808/OC-TT
Prospective bidders are advised that the closing
date for receipt of proposals for the above men-
tioned project has been extended from Thursday
29th August, 2013 to 1.00 p.m (local time) on
Thursday 5th September, 2013.
Bidders are reminded that the dimensions of the
slot in the Tenders Box are 37.5 cm x 5.5 cm.
Late proposals will not be considered in any cir-
Central Tenders Board
16th August, 2013
NEW DELHI---Indians returning
from abroad bring nearly 3,000 flat
screen televisions into the country
a day, turning airport luggage belts
into revolving electronics displays.
A stiff new customs duty aims to
sink that popular trade as officials
scramble to halt a dizzying plunge
in the rupee.
The 36-per cent TV tax is the lat-
est in a slew of measures the gov-
ernment has announced to steady
the currency and is a sign, critics
say, of its increasing desperation.
New limits were imposed on the
amount of money individuals and
companies can invest overseas.
Higher taxes were slapped on gold
imports. Interest rates on rupee
deposits were raised. All to no avail.
The rupee has plumbed new lows
against the dollar on a near daily
basis, showing the pressure of a cur-
rent account deficit that has swelled
from high import costs. A dollar now
buys more than 63 rupees, a decline
of eight per cent for the rupee so
far this August. The Sensex stock
index is down more than ten per
cent in the past month. Nearly half
that fall was in the past few days.
The government is panicked
because the slumping rupee threat-
ens to worsen two important barom-
eters of the nation s financial stand-
ing---its budget, already in deficit
because of subsidised oil imports,
and the overseas trade account, also
deeply in the red.
"These are really piecemeal
efforts," said Anjalika Bardalai, a sen-
ior Asia analyst at the London-based
consulting firm Eurasia Group. "They
haven t engaged in a big-bang reform
to deal with structural problems still
affecting the economy."
Finance Minister P Chidambaram
defended the government s efforts
in parliament yesterday. To halt the
rupee s decline, he said the govern-
ment is trying to stem demand for
nonessential imports while also
encouraging inflows of money.
Pessimists fear India could suffer
a funding crisis like the one it expe-
rienced in 1990-91 when interna-
tional investors took fright at its
shaky finances. But with the central
bank now stocked with $280 billion
of foreign currency reserves, most
experts think that scenario is unlike-
ly.What s more probable is an
extended period of India failing to
generate fast-enough growth to
either alleviate the poverty that still
afflicts many of its 1.2 billion people
or create enough new jobs for a pop-
ulation where a majority is under
30 years old and some 13 million
Indians reach working age each year.
Some of the fall in India s stock
market stems from jitters about the
US Federal Reserve scaling back its
unprecedented monetary stimulus.
The Fed s low interest rate campaign
drove money into stock markets
worldwide in search of higher
returns, a phenomenon that is now
The Indian economy, Asia s third
largest, grew five per cent in the
financial year ended March, its slow-
est in a decade and well off the eight
per cent pace it had averaged over
those ten years.
Growth suffered under the weight
of high inflation, weak investment,
corruption scandals and low business
confidence. Efforts to open the coun-
try wider to foreign investment have
been applauded but have yet to take
"Five per cent growth is not ade-
quate for India, that s for sure," said
Samiran Chakraborty, head of
research at Standard Chartered Bank,
South Asia. "With the kind of demo-
graphic profile we have, it s quite
likely we will not be able to satisfy
the population with only five per
In a small way, the soon to be
squelched trade in flat screen TVs
illustrates India s business and eco-
nomic challenges. Despite the mas-
sive size of its market and high
import tariffs, local companies have
not become significant players in
the consumer electronics manufac-
Buying an imported 32-inch LED
television costs up to $474 in New
Delhi compared with $355 in Dubai
or $330 in Bangkok, making the duty
free exemption for individual air
travellers a popular way to get a
cheaper TV into India. That loophole
closes August 26. The Consumer
Electronics and Appliances Manu-
facturers Association estimated one
million TVs were brought into the
country each year by individuals.
India s prime minister is insisting
the tough times are temporary, and
that growth could recover to its pre-
vious breakneck levels.
"We are trying our best to remedy
the situation," Manmohan Singh said
in last week s Independence Day
address, attributing the economic
malaise to the global slowdown.
The growth of past years "shows
what we are capable of," he said.
India scrambles to halt rupee slide
Finance Minister P Chidambaram seeks to revive Indian economy.
The rupee has plumbed new
lows against the dollar on a
near daily basis, showing the
pressure of a current account
deficit that has swelled from
high import costs. A dollar now
buys more than 63 rupees, a
decline of eight per cent for
the rupee so far this August.
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