India: The stamp of scarcity

CHENNAI, AUG. 3. A serious shortage of one-rupee revenue stamps,
critical in nearly all types of financial transactions, is causing
problems to the ordinary public in Chennai and elsewhere in the
State. Many post-offices have put up boards saying “No stock of revenue
stamps” at the vending counters. Enquiries with the Revenue department show that there is a severe
shortage even at the Nasik Press where the stamps are printed. This
is attributed to the phasing out of old printing equipment there.
“This seems to be the same situation in all southern States”, says
an official in the Treasury department. Sources in the Postal
department say the money generated from revenue stamps goes entirely
to the State exchequer. Two days ago, an argument over the shortage
led to a fracas between buyers and the department personnel at a
head post office in Chennai. Now bulk buyers such as financial
undertakings and public utilities are sometimes forced “to buy
whatever quantum is available at a premium”. In places such as Chennai, the TNEB and the BSNL need lakhs of
stamps each month for being affixed on receipts of every
transaction. For instance, at the Anna Road HPO, revenue stamps
worth Rs. 8 lakhs are sold a month. Now, the going is difficult.
Treasury department officials say the normal supply from Nasik to
the State was two lakh sheets (each of 320 stamps every three
months). But for the past two months, the Nasik Press has been
phasing out the old printing facility and erecting a new one. Tamil Nadu officials who contacted the Nasik authorities were told
that normal supplies would be restored by September-end. For the
present, Tamil Nadu has to make do with a supply of about 4,000
sheets received every weekend by parcel from the Nasik suppliers.
“Still there is great demand. Each district wants half the supply
weekly…”, say the sources.
Copyright 2001 Kasturi & Sons Ltd (KSL).
Source: World Reporter (Trade Mark) – Asia Intelligence Wire.THE HINDU, 04th August 2001