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July 12, 2001 		Feedback  
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Special bailout package for UTI soon: Vassal

K G Vassal, acting UTI chiefA special package will soon be worked out for Unit Trust of India in the face of large-scale redemptions of US-64 during April-May this year leading to freeze of the flagship scheme for six months.

"We will shortly work out the package," acting UTI chairman K G Vassal told reporters after a two-hour meeting with Finance Minister Yashwant Sinha.

The UTI board is meeting in Bombay on Friday to discuss the special bailout package.

Asked if the package would be finalised on Thursday, Vassal said: "Not today."

"It is premature to say anything at the moment. Nothing has been finalised as yet," he said when asked about the package.

Asked if he had sought budgetary support for the bailout package, Vassal said: "All options are open but I cannot specify at this moment."

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