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Talebearer

Not much has been heard of the $5-billion Blackstone-Citi infrastructure fund that IDFC was to manage in recent times. The two foreign partners, in any case, are struggling with their global credit woes.

     Print Edition: April 20, 2008

Slowdown blues

Not much has been heard of the $5-billion Blackstone-Citi infrastructure fund that IDFC was to manage in recent times. The two foreign partners, in any case, are struggling with their global credit woes. And with the decline in risk appetite, funds may simply not be flowing. The tightening of the external commercial borrowing window, too, seems to have played spoilsport. And that does not seem to be the only glitch for infrastructure investments. Higher interest rates are also delaying closure. As infrastructure fund requirements creep up, these are not very healthy signs.

Shalini S. Dagar

PSU wishlist

PSU employees, who are still awaiting their verdict from the second PSU Pay Revision Committee, expect to get a 50-60 per cent hike in salaries. That however, will still leave them earning only a fraction of what their counterparts in the private sector earn. Some, like ONGC, have made a recommendation to the oil ministry to allow it to fix its own pay scales. There have also been suggestions of giving ESOPS to employees. For the moment, though, it seems unlikely that these demands will be met.

Tejeesh N.S. Behl

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