New Delhi: In order to boost the pace of Auto Industry, the Centre has decided to constitute a National Automotive Board (NAB) to take up the issues related to the sector before other Ministries.

In meeting with the eminent industrialists, Union Heavy Industries and Public Enterprises Minister Praful Patel said in addition to the NAB, a Task Force will be formed to consider the issues related to the auto industry.

Automobile industry body, Society of Indian Automobile Manufacturers (SIAM) on Monday lowered its vehicle sales growth forecast for the Current Financial Year to 11-13 per cent from 12-15 per cent, mainly due to higher interest rates and rising fuel prices.

“Increase in interest rates has been higher than what we had thought earlier” SIAM President Pawan Goenka told reporters here.

In the first quarter, two leading car-makers in the country, Maruti Suzuki and Tata Motors, did not experience good growth, he added.

Industry representatives took up the issues of slow pace of Auto Industry and the higher interest rates.

After the meeting, Patel assured the industry representatives of apprising the Ministries concerned of their queries.

Centre to search for partner for Scooters India
 
The Disinvestment Department is looking for a partner for loss making PSU Scooters India Limited. The Centre has already given its approval for disinvestment through strategic partnership in it.

The Centre had decided to sell the Scooters India after having failed to improve the battered financial condition of the company.

Heavy Industry and Public Enterprises Minister, Praful Patel said, “The Ministry has already sent the proposal to Disinvestment Department, which is looking for strategic partner for the Company for disinvestment.”


(JPN/Bureau)