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It is argued that the `problem of time' in quantum gravity necessitates arefinement of the local inertial structure of the world, demanding areplacement of the usual Minkowski line element by a 4+2n dimensionalpseudo-Euclidean line element, with the extra 2n being the number of internalphase space dimensions of the observed system. In the refined structure, theinverse of the Planck time takes over the role of observer-independentconversion factor usually played by the speed of light, which now emerges as aninvariant but derivative quantity. In the relativistic theory based on therefined structure, energies and momenta turn out to be invariantly bounded fromabove, and lengths and durations similarly bounded from below, by theirrespective Planck scale values. Along the external timelike world-lines, thetheory naturally captures the `flow of time' as a genuinely structuralattribute of the world. The theory also predicts expecteddeviations--suppressed quadratically by the Planck energy--from the dispersionrelations for free fields in the vacuum. The deviations from the specialrelativistic Doppler shifts predicted by the theory are also suppressedquadratically by the Planck energy. Nonetheless, in order to estimate theprecision required to distinguish the theory from special relativity, anexperiment with a binary pulsar emitting TeV range gamma-rays is considered inthe context of the predicted deviations from the second-order shifts.Comment: 17 pages; Diagram depicting "the objective flow of time" is replaced  with a much-improved diagra

PASSAGE OF TIME IN A PLANCK SCALE ROOTED LOCAL INERTIAL STRUCTURE