NEW DELHI (PTI) The Prime Minister, Narasimsha Rao said any of his ministerial colleagues found involved in the multi-crore securities scam would be dropped from the ministry and those found guilty of manipulating or indulging in financial irregularities would not be spared

Addressing his first press conference here Rao promised to plug any leakage in the banking system to prevent recurrence of such a scandal,

If there is something wrong with the system or there are leakages that is something we have to look into. My mind is open, What needs to be done, I am prepared to discuss’’, he said.

At the 90-minute press conference which coincided with his completion of one year in office, the prime minister answered a wide-range of questions on the Bofors investigation, nuclear nonproliferation treaty (NPT), situation in north Indian border state Jammu and Kashmir, cabinet reshuffle and further economic reforms besides the stock-scam Responding to & question on Bofors, the prime minister said, the CBI was unable to establish the identity of the lawyer who reportedly handed over a note to the former external affairs minister, Madhav Sinh Solanki at Davos seeking to stall the investigations into the gun deal, The CBI has come up against a blank wall and informed the government that it was Just not possible to ascertain the identity of the lawyer” he said. On economic reforms, Rao said the thrust would not be changed and did not think that there was any slowing of the process. Asserting that he had consulted all parties on the choice of Shankar Dayal Sharma for president ship and not taken a unilateral decision, Rao said he would again start the process of consultation for the vice-president’s election when the post fell vacant, He was sure that the vice president Sharma would be elected to the highest post. On Kashmir, the prime minister said while the foreign-instigated secessionist movement continued to pose a challenge the situation was far better than before. This had given encouragement to the government to consider restoring the political process at an appropriate time. .

Article extracted from this publication >> June 10, 1994