ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Final End of Kashmir Problem

November 10, 1973 owing to increases in costs of raw materials and wages. Dividend was maintained at 20 per cent, but the cover was more than halved. The fall in production was ascribed to 'go-slow' by workmen at Brajrajnagar and Amlai and to acute shortage of water at the former factory. During the current year, the Brajrajnagar mills experienced a power- cut ranging from 40 to 60 per cent, coupled with frequent load shedding from April 27 to July 13, and production was affected. Due to inadequate supply of railway wagons, the stock position of bamboo at both the factories has become unsatisfactory and stocks of paper and board have piled up. The price of non-coking coal has increased since the take-over of the management of collieries by the government. Besides, the concession in excise duty on paper available to the Amlai factory has been withdrawn by the last Finance Act. These factors, together with the soaring prices of raw materials, chemicals and other stores as also salary and wages, arc likely to affect the current year's working results of the company. The renovation and modernisation programme of the power plant an! the pulp section at Brajrajnagar is in progress. Owing to certain disputes with the MP government on the question of royalty, the company has net beenpermitted to extract bamboos felled during 1972-71 and is facing shortage of bamboos. Panafrican Paper Mills (E A), set up in Kenya in technical and financial collaboration with the company. is likely to go into production in 1974. The company will have to subscribe additional equity shares in ruppee upto an amount equivalent to US dollars 1.4 million because the cost of the project has gone up.

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