The revised WTO draft for negotiations in farm trade may not see the light of the day before May 12, even as the director-general, Pascal Lamy has proposed a mini-ministerial meeting on May 19.

The Asian Development Bank on Saturday called for immediate action from global governments to combat soaring food prices and pledged fresh financial aid to help feed the Asia Pacific region's poorest nations. The ADB set out a plan of short- and medium-to-longer-term assistance work, including financial support, to protect the most vulnerable groups as well as programmes to mitigate the immediate impact on the poor of soaring food prices. Following is a summary of the plan. SHORT TERM ASSISTANCE

THE Asian Development Bank has rushed to offer cheap loans to poor countries in the region to help them cope with the world food crisis. Warning of a backwards slide in economic development that could potentially plunge millions of people back into poverty, bank president Haruhiko Kuroda told a meeting in Madrid: "The cheap food era may be over." Rising fuel prices, economic subsidies, poor farming methods and climate change have contributed to a sharp increase in the cost of staple crops.

In the wake of the rising food prices owing to a global shortage, the Confederation of India Industry (CII) has decided to set up a task force to chalk out steps to raise farm production, improve productivity and encourage private sector participation in food distribution. In a statement here on Sunday, the apex chamber noted that the rising food prices was a matter of concern and called for an immediate global response by way of a platform for dialogue and action to manage the crisis.

The onus is on the State government to effectively introduce measure to curb the price rice, Union Minister of State for Planning and Parliamentary Affairs V. Narayanasamy has said.

The Food Corporation of India on Saturday dismissed allegations that it was supplying sub-standard wheat to consumers in the Capital. Addressing a press conference, FCI General Manager (Delhi Region) Asit Singh said: "We want to place on record that our role is limited to supplying good quality foodgrains to the Delhi Government after obtaining acceptance of quality and quantity certificate in each and every case from representatives of the administration.' Samples sealed

WASHINGTON: President George W. Bush has proposed spending an additional $770 million in emergency food assistance for poor countries, responding to rising food prices that have caused social unrest in several nations. The president's proposal Thursday came days after Democrats in Congress had called for increases, and it received a largely positive response, though some Democrats criticized the fact that the aid would not be available until the next fiscal year begins in October.

The poor experience higher rates of inflation than the rich and bear the full brunt of the scourge as they spend the lion's share of their incomes on food and have little money left for other needs. Soaring food prices affect the poor people's welfare seriously, said a Bangladesh Bank research paper, stressing the need for a pro-poor monetary policy and comprehensive strategies for boosting farm outputs, creating jobs and widening social safety-net schemes.

The call by UN Secretary General Ban Ki-moon for a top-level task force to address the issue of the spiraling cost of food worldwide is precisely the kind of co-ordinated global action that is necessary at this precarious moment in history, and could not have come at a better time. The secretary general's other suggestions, that the World Food Programme needs to be fully funded, that key producer nations should not ban exports, and that bio-fuels need to be reconsidered in light of the current crisis, are also all well taken.

US President George W. Bush has asked the Congress to approve $ 770 million as aid against the current global food crisis, even as he urged the countries to lift restrictions on agricultural exports. The proposed aid is in addition to the existing $ 200 million assistance that has already been provided by the US. "I am calling on the Congress to provide an additional $ 770 million to support food aid and development programmes. Together, this amounts to nearly $ one billion in new funds to bolster global food security,' Bush said, speaking at the White House yesterday.