IPCL divestment by Feb

8220;We will not allow pernicious monopolies to come into existence. Monopolistic practices will be treated as criminal offences,8221; he said during his inaugural address at India Calling,8217; an overseas Indians8217; conference organised by the Indian Merchants Chamber IMC here.

The competition law would provide a formal legal framework to this outlook of the government, and the ministry was currently working on the bill, he said.

8220;The bill is aimed at creating a free and fair market. The theory is that competitionwill bring down prices, as opposed to monopolies which jack them up,8221; he said.

Welcoming enhanced participation of overseas Indians in the economic affairs of the country, Jethmalani said the government was considering the matter of offering dual citizenship to non-resident Indians NRIs.

8220;I am for dual citizenship to overseas Indians. We will have to sit and draft a dual citizenship bill,8221; he said.