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| << March11, 2007 - [India Thinkers Net] Mar 11th posts 1-6 |
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[7] From: Ravinder Singh <corruptionfree2007@yahoo.com> Date: Fri Mar 9, 2007 Subject: Fallacious Finance Malicious Budget Fallacious Finance Malicious Budget Dr. Subroto Roy a London based economist has done well to expose the economic policies of Manmohan, Chidambaram and Montek in creating a unique brand of Loot & Scoot companies. The malicious goal of the GOI exercise all these post reform years was to enrich few families even if it means starving 90% of the population. They are taking advantage of loophole in the criminal law stupidity is not a crime. Eccentricity of their policies labeled “Reforms” has already resulted in a situation India has 36 names in Forbes list 2007 worth $191b (20% of GDP) when Indian manufacturing component of Indian GDP is barely $200b compared to 24 Japanese billionaires accounting for $64b worth in $2500b Japanese manufacturing GDP. This looks ridiculous when there are at least 10 companies in the world that have more turnover than manufacturing GDP of India or recent start up Google is worth around $150b and its two founders are worth $33.2b already to $191b worth of 36 Indians in Forbes list. Nevertheless people are speculation for some time fewer than 36 Indians are running the country from remote control. The three bad boys are merely puppets in their hands. Their defense of SEZ policy when all perceive it as a big scam confirms public perception. China taxed foreign companies at concessional rate of 15% against 33% for its own companies to attract foreign investment but more importantly to create even situation of both taxed at similar compliance rate. Corporate India compliance rate of direct and indirect taxes, as reported in ET study, is only 11.9% even as tax rates on imports were 12%, corporate taxes of 33% this too is largely reimbursed as illegal tax dodges and incentives. But tax rate for individuals stack up high very high Income Tax of 33%, Service Tax of 12%, Sales Tax of over 10%, House Tax of 20% and mark up on all commodities of 100% not excluding taxes. The entire GOI machinery is geared to enrich few families not by creating competitive and innovative export driven products but by shielding them from foreign competition and enriching them at the expense of 99% population. A mobile phone that cost $45 in Walmart stores in USA with 15 days replacement option with battery life of 10 days guarantee cost Rs. 6,000 in India without replacement option and low battery power of two days only. GOI tax rate is more than any developed country but expenditure on health care and education are not even 1% and 3% respectively. 36 Indian billionaires in the Forbes list mean nothing to people of India. None had developed globally competitive product and service for people of India. None address the food, electricity, housing, education, food processing, retailing, sanitation and water etc. It is important to clarify here Indian IT exports are not even 1.5% of the world shared between 1000 companies. Ravinder Singh March09, 2007 Corruptionfree2007@yahoo.com Billionaires richer, Russia, India rise - Forbes Fri Mar 9, 2007 9:12 AM IST By Herbert Lash NEW YORK (Reuters) - The world's richest are getting younger and richer with more Russians and Indians cropping up among the 946 people on Forbes magazine's 2007 billionaires list unveiled on Thursday. The number of billionaires is 19 percent higher than last year when there were 793, and their total net worth grew 35 percent to $3.5 trillion, the magazine said. The average billionaire's age fell by two years to 62, and 60 percent started with very little. Two-thirds of those on the list were richer, with net worth up for nearly everyone in the top 50. "This is the richest year ever in human history," said Forbes Chief Executive Steve Forbes. "Never in history has there been such a notable advance." Among those joining the list are Howard Schultz, the founder of Starbucks, which pioneered the $3 cup of coffee, and former Walt Disney boss Michael Eisner. Microsoft Corp. Chairman Bill Gates was the richest man for the 13th straight year, with $56 billion, followed by Warren Buffett, chief executive of Berkshire Hathaway Inc., with $52 billion. Mexican telecoms tycoon Carlos Slim remained No. 3, with $49 billion. Schultz is 840th on the list and worth $1.1 billion. Eisner is 891st and worth $1 billion. In China, Yan Cheung, chairwoman of Nine Dragons Paper, made history as China's richest person and was one of three self-made women born in the communist country to debut this year. She is worth $2.4 billion and is 390th on the list. RUSSIA'S STAR RISING Russia climbed to No. 3 in country rankings with 53 billionaires, two less than Germany, which has long held the runner-up spot in the billionaire stakes behind the United States. But the total worth of the Russians surpassed the Germans, at $282 billion versus $245 billion, Forbes said. The average age of Russia's billionaires was 46. In Asia, India had the highest number of billionaires, overtaking Japan, which for two decades had held the region's top spot. India had 36 billionaires worth a total $191 billion while Japan's 24 billionaires were worth $64 billion, the magazine said. The wealth of Mexico's Slim increased by $19 billion, the biggest one-year advance in a decade. His wealth is equal to 6.3 percent of Mexican annual economic output, a comparison that would make Gates worth $784 billion, the magazine said. Two newcomers climbed into the top 10. Spaniard Amancio Ortega of retailer Zara rose to No. 8 with $24 billion, and Canadian David Thomson and his family were at No. 10, replacing his father, the late media baron Kenneth Thomson. There were 178 new billionaires and 53 nations were represented on the list. Of the 83 billionaire women, 10 were self-made, it said. Spain added 10 new billionaires, nine of whom made fortunes in the country's booming real estate and construction business. Americans made up 44 percent of the world's billionaires, with 415, 55 of whom were new to the list. FAST PACE Google founders Larry Page and Sergey Brin are now worth $16.6 billion each, and the speed at which they amassed their fortune far is exceeding the pace of Gates, the magazine said. They both were ranked No. 26 on the list. Back on the list were BET television network founder Robert Johnson and AOL's Stephen Case, in 840th place with $1.1 billion and 891st with $1 billion, respectively. Japan's Yoshiaki Tsutsumi, the world's richest man in 1987, is no longer a billionaire, the magazine said. Tsutsumi, the former chairman of Kokudo Corp., the core firm of regional railway operator Seibu Railway group, received a suspended prison sentence in October 2005 for falsifying financial statements and insider trading. Computer maker Michael Dell and the heirs of Wal-Mart founder Sam Walton fell from the top 20. Dell was No. 30, worth $15.8 billion, and four Waltons were worth from $16.4 billion to $16.8 billion, ranking 23rd to 29th. ----------- [8] From: Pradip Kumar Datta <pradip200@yahoo.com> Date: Sat Mar 10, 2007 Subject: Border fencing Border fencing Construction of roads and fencing along the Assam-Bangladesh border to check infiltration of Bangladeshi nationals to the State is turning out to be a never ending process with the Government extending the deadline for the completion of the project time and again. The Prime Minister, Dr Manmohan Singh, in a tripartite meeting to review the implementation of the Assam Accord in May,2005, assured to complete fencing of the border by the end of the year 2006, but the promise could not be fulfilled and now the State Government has announced that the project would be completed by March 31 this year. It remains to be seen whether the fresh deadline for the completion of the project is met and what is most unfortunate is that the fencing erected along the international border in the first phase of the project has almost become redundant because of its poor quality and even if the project is completed by March 31 this year, it will have no meaning as major portions of the fencing will have to be reconstructed to seal the international border. The issue is raised by a number of legislators in every session of the State Assembly and replying to questions by the Opposition members, the Minister in charge of Assam Accord Implementation, Dr Bhumidhar Barman told the House during the current Budget session that various factors like exchange of fire between the Border Security Force (BSF) and Bangladesh Rifles (BDR), inclement weather etc delayed the construction of border roads and fencing. He also admitted that the State Government was not aware of the time frame given to the NBCC, a Central Government undertaking, for the completion of the fencing along the international border in Masalabari char in Dhubri district. Though the legislators keep the issue alive by raising questions on the progress of the construction of border fencing in the floor of the Assembly, they have failed to point out the poor quality of the fencing. The quality of the fencing constructed along the Assam-Bangladesh border is of much inferior quality as compared to the fencing along the international border in the western sector and this fact was also pointed out by former Governor of Assam, Lt Gen(Retd) SK Sinha in his report to the President of India way back in 1998. The legislators, while, raising the issue in the floor of the House, should also demand construction of a composite fencing with floodlights to improve visibility at night, or else the infiltrators or anti-social elements will always be able to cut their way through the fencing. Assam Tribune Editorial 10.03.07 ----------- [9] From: Arif Khan <ank2000pk@yahoo.com> Date: Sat Mar 10, 2007 Subject: Suspension of SC Cheif Justice Condemned by Lawyers and Former Judges Musharraf Suspends SC Chief Justice Azhar Masood, Arab News ISLAMABAD, 10 March 2007 — Pakistan’s President Gen. Pervez Musharraf suspended the country’s chief justice yesterday for “misuse and abuse of power,” and submitted a case against him to the Supreme Judicial Council (SJC) on the advice of Prime Minister Shaukat Aziz. Justice Javed Iqbal has taken over as acting chief justice because the next senior judge of the top court, Justice Bhagwandas is out of the country. Speculation regarding Justice Iftikhar Chaudhry’s fall was rife following reports that he had misused his influence to secure official employment for his sons, and the recent court rulings that had challenged the government’s authority. Federal Minister for Law and Justice Wasi Zafar told Arab News that Chaudhry misused his authority to get his two sons appointed — one in the Federal Investigation Agency and the other in Punjab’s Health Department. Political observers believe Justice Chaudhry has been punished for his verdict against the privatization of Karachi Steel Mills. He had also taken suo moto action against the disappearances of several government critics. Chaudhry heard a landmark case brought by relatives of dozens of people believed taken into secret custody by intelligence agencies. The chief justice pressed the government to provide information on the detainees’ whereabouts. “Musharraf’s action came at a time when the opposition was gearing up to challenge his re-election as the president by the present assemblies,” PPP legislator and jurist Aitzaz Ahsan said. Observers say President Musharraf may impose emergency and postpone general elections and the action against the chief justice could be a step in that direction. Lawyer Ahmad Reza Kasuri told Arab News that after charge-sheeting the chief justice, the president can remove him. Federal Minister for Parliamentary Affairs Dr. Sher Afghan Niazi said the tenure of the present assemblies can be extended, while Federal Minister for Religious Affairs Ejazul Haq observed that if the opposition deputies resigned from the assemblies to block the re-election of the president, the next move would be the imposition of martial law. Prominent lawyers and former judges expressed surprise over the move that underlined the power of the executive over the judiciary. Information Minister Mohammed Ali Durrani said Musharraf removed Chaudhry for “misuse of authority” but gave no further details. Musharraf had received “numerous complaints and serious allegations of misconduct, misuse of authority and actions prejudicial to the dignity of office of the chief justice of Pakistan,” and Chaudhry had been unable to give a satisfactory explanation, the official APP news agency said. Former Chief Justice Saeed uz-Zaman Siddiqui told private Geo TV that Chaudhry’s removal was “unfortunate,” but Musharraf had the power to act against Chaudhry. “He (Chaudhry) was an upright person, and the action against him has surprised me,” said Abdul Qayyum, a retired judge, who now works as a lawyer. Recent rulings by Chaudhry may have irked the government. Talat Masood, a political analyst, said the removal of Chaudhry demonstrated the power of the military and suggested that Musharraf’s government wanted to have a “pliable judiciary” ahead of parliamentary elections expected later this year. http://www.arabnews.com/?page=4§ion=0&article =93397&d=10&m=3&y=2007 Lawyers condemn presidential reference as unconstitutional By Wajih Ahmad Sheikh LAHORE: Lawyers community has strongly condemned the presidential order suspending the Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry and termed the act unconstitutional. The news of suspending the Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry through presidential order caused unrest among the lawyers’ community as well as judges of the superior courts and it remained the talk of the town. The lawyers expressed their strong reaction against the suspension of the chief justice and they termed it an effort to undermine the independence and sanctity of the judiciary. Talking to The News, Human Rights Commission of Pakistan Chairperson Asma Jehangir said the removal of the Chief Justice of Pakistan is a bitter blow to the independence of the judiciary. She said some rumours were already doing rounds that the government was plotting to get rid of him. She further said his removal was prompted because of any misuse of authority as such judicial practices were fully tolerated if not encouraged by the executive. On a query regarding corruption reference made by President Pervez Musharraf, she asserted that a reference by itself cannot grant the executive the powers to dismiss a judge of the superior courts. Such dismissal can only be acted upon after the Supreme Judicial Council (SJC) decides on merit against the accused judge, she added. Asma Jehangir said the speed with which the CJP has been removed showed that the executive is nervous even of a very tame judiciary, while pointing out that it is significant that the Chief Justice of the Sindh High Court was flown to the capital in haste and in chartered plane to secure a prompt decision from the Supreme Judicial Council. She also denounced the government’s decision to bypass Justice Bhagwandas on the basis of his religion. It may be pointed out that Justice Cornelius was a well-respected Chief Justice of Pakistan and not left out in the cold because of his religion. Supreme Court Bar Association’s President Munir A Malik said the decision of making dysfunctional the CJP would severely damage the image of Pakistani judiciary in the world. Commenting over the legal procedure of removal or suspension of a judge of superior judiciary, Munir Malik said if, on information from any source, the Supreme Judicial Council or the president is of the opinion that a judge of the Supreme Court or of a High Court may have been guilty of misconduct, the president shall direct the council to or the council may, on its own motion, can inquire into the matter. If, after inquiring into the matter, the council reports to the president and if suggested that the judge is incapable of holding his office as he has been found guilty of misconduct or misuse of authority, and he should be removed from office then the president may remove the judge from office. A senior lawyer Muhammad Azhar said in the present scenario, the president had no authority and jurisdiction to exercise power to suspend the CJP under Article 409 (6) until and unless the Supreme Judicial Council reports to the president after making inquiry into the matter. He further said the presidential power is not unguided, fettered, uncontrolled and this discretion must be exercised honestly, diligently and only on the report of the SJC. Under Article 211 of the Constitution, the proceedings before the council, its report to the president and the removal of a judge under clause (6) of Article 209 shall not be called in question in any court, he added. The action of the president is illegal, unconstitutional and without jurisdiction and against such action, as laid by the superior courts, remedies by way of Article 199 and 184(3) are available and both the superior courts can by a single stroke nullify the order of the president. Member Pakistan Bar Council Hamid Khan said a reference can be filed against the Chief Justice of Pakistan but he cannot be removed until the decision of the Supreme Judicial Council. He said it looked as the president has taken this step against the chief justice because of his strong worded remarks against the government in a number of cases during the last one year including declaring null and void the controversial privatisation of the Steel Mills of Pakistan, proceeding to recover the missing persons believed to have been in custody of secret agencies and taking suo motu notices on the public interests matters and providing relief to the people against the excesses by the authorities. On a query whether a non-Muslim judge can be made Chief Justice of Pakistan, Hamid Khan said there was no hindrance in the constitution as Justice Rana Bhagwandas, who is the most senior judge at present should be made acting chief justice. He further said the allegations levelled in the reference against the CJP could have been raised earlier. SCBA’s ex-president Justice Malik Qayyum (retd) condemning the suspension of Chief Justice of Pakistan, said the institution of justice will decline rapidly and that the people will have no faith in the institutions of the country. He negated to comment against or in favour of the reference saying that the matter was sub judice and it would be against the law to comment over it. Appointing Justice Javed Iqbal as acting chief justice is not a big issue as Justice Rana Bhagwandas was not available due to his visit to India, he said. Former federal law minister SM Masood termed the reference as unfortunate and said the government was planning since long to remove the CJP. He pointed towards a TV interview of Law Minister Wasi Zafar in which he said, “there is a strong pressure on country’s judiciary and the CJP should resign himself due to his personal reasons without indulgence of any other institution”. He said there must be something wrong on the part of the president and due to some personal reasons he must have filed the reference against the CJP. Supreme Court Bar Association former secretary Ali Akbar Qureshi said there must be some serious reasons behind the reference otherwise it was nonsense and victimisation. He said it would be premature to say something before reading contents of the reference. However, he said it is constitutional that the CJP should be dysfunctional till the reference was pending. Lahore High Court Bar Association President Ahsan Bhoon criticised the suspension of Justice Iftikhar Chaudhry and said the people will have no confidence in the judiciary. http://www.thenews.com.pk/daily_detail.asp? id=46329 Arif N. Khan http://www.netvert.biz/wordpower |
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| << March11, 2007 - [India Thinkers Net] Mar 11th posts 1-6 |
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