The Tribune
From T. V. Lakshminarayan, Gaurav Choudhury
NEW DELHI, Dec 11 — The Union Government’s decision to bring the Insurance Regulatory Authority Bill and the Patents (Amendment) Bill, 1998, in the current session of Parliament has triggered off a debate. The Government, despite the contradictions within its fragile coalition, says these laws are necessary in the overall interests of the economy and integrating it with the global economy. Being a signatory to the World Trade Organisation, the Government has little choice but to bring the patenting laws in the country in line with international practice. The Patents (Amendment) Bill is a first step in this direction and the Bill if passed would grant Exclusive Marketing Rights (EMRs) to pharmaceutical and agricultural chemical products. The Tribune spoke to a couple of prominent votaries and critics of the two measures.
On the IRA Bill, the former Group Head of Insurance of JK Industries , Mr Shambhu Anand, came out in support of opening the insurance sector. The Bharatiya Janata Party MP from Chandigarh, Mr Satya Pal Jain, who like all his party colleagues will vote in favour of the Bill, however, reflected on the reservations he had before the Prime Minister convinced the party cadres about the importance of the IRA Bill in the overall economic interests of the country. Mr Jain, incidentally is a whip of the party in the Lok Sabha, and he would ensure that his party MPs vote in support of the Bill. ...
