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Economic Recovery Will Take Time, Say Experts

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Bibek Debroy BSCAL
Last Updated : May 17 1999 | 12:00 AM IST

The 28th executive committee meeting of the Montreal Protocol Fund, crucial for Indian chlorofluorocarbon (CFC) manufacturers, will begin in Montreal tomorrow.

An important item on the agenda is to evolve a consensus on how much grant-in-aid India should get from the multilateral fund to phase out CFC production between 1999 and 2010, the timeframe set by the protocol.

Two environment and forests ministry officials_special secretary Vinod Vaish and Atul Bagai, director of the ministry's ozone cell_will plead India's case at the meet. The officials left for Montreal on July 10.

The Indian production sector has demanded a grant of $250 million. The World Bank, which assessed the requirement, has already cut it down drastically. Industrialised countries, represented on the executive committee, want a further

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First Published: May 17 1999 | 12:00 AM IST

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