Date:09/04/2005 URL: http://www.thehindu.com/2005/04/09/stories/2005040907751500.htm

Business - Briefly

Guarantee for DFIs

NEW DELHI, APRIL 8. The Centre has decided to stand guarantee for domestic financial institutions (DFIs) to help settle the foreign debts of Dabhol power project as part of the ongoing exercise to resolve the payment imbroglio and resume generation.

Briefing newspersons after the meeting of the Cabinet Committee on Economic Affairs (CCEA) here today, the Defence Minister and Chairman of the Group of Ministers (GoM) on Dabhol, Pranab Mukherjee, said: " We are negotiating with all concerned parties for settling the issue amicably. This, it is hoped, will help them (all stake holders) to settle these issues early."

— Our Special Correspondent