'Ford not to hike prices'

By Our Special Correspondent

NEW DELHI, AUG 25. Ford India has no plans to hike the prices of various variants of cars manufactured and marketed by it in India due to fall in value of the rupee, said the company's Managing Director, Mr. Philip G. Spender, here today.

Launching Ford India's `` Conservation and Environmental Grants Programme'' in India, he said speculative reports that appeared in the media suggesting a hike of about Rs. 35,000 in the price of the company manufactured cars were not correct. There was no such move under consideration of the company, he further stressed.

However, he said that Ford India was not averse to developing cars that would use fuels other than the traditional one in petrol and diesel. But all that would depend on the availability of the infrastructure of retail outlets for the alternative fuels.

Elaborating on the grants programme, he said to start with grants totalling Rs. 18 lakhs were being made available for conservation initiatives.

The grants would be distributed to five types of ongoing conservation initiatives under implementation now.

The projects that would be eligible for the projects are: natural environment projects that protect the local flora and fauna; heritage conservation projects that protect man-made aspects of heritage including artwork, historically significant buildings or places and other architecturally significant objects; conservation engineering projects that reduce the rate of consumption of natural resources or reduce the rate or pollution; environment projects that aim at improving awareness and sensitivity to the natural environment; and child and youth conservation projects involving young people up to the age of 18.

While inviting applications for the grants, he said an independent panel of judges would select the organisations for these grants.

None from Ford would be on the panel that would select the projects for these grants by November. The last date for applying for the grants is October 15.

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Section  : Business
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