Will not accept any modifications or changes in IWT: Pak

December 17, 2016

Islamabad, Dec 17: Pakistan has said it would not accept any modifications or changes in the Indus Waters Treaty after India strongly pitched for bilateral redressal of differences with it while implementing the 56-year-old accord.

indus"Pakistan will not accept any modifications or changes to the provisions of the Indus Waters Treaty (IWT). Our position is based on the principles enshrined in the treaty. And the treaty must be honoured in...letter and spirit," Special Assistant to Prime Minister Tariq Fatemi told Dawn News.

His remarks came after India strongly pitched for bilateral redressal of differences with Pakistan while implementing the Indus Waters Treaty. External Affairs Ministry Spokesperson Vikas Swarup had said on Thursday that given the will, there is no reason why the technical design parameters on which Pakistan has raised objections cannot be sorted out by experts from both sides on projects like Kishenganga.

India believes that these consultations should be given adequate time, Swarup had said. However, Dawn reported that India's request for more time alarmed Pakistan. "Islamabad argued that India used the same strategy on previous occasions, completing a project during the dispute and then insisting that since the project was already complete, it could not be modified," the report said.

The treaty, signed in 1960, gives India control over the three eastern rivers of the Indus basin -- the Beas, Ravi and Sutlej -- while Pakistan has the three western rivers -- the Indus, Chenab and Jhelum. The IWT also sets up a mechanism, the Permanent Indus Commission, which includes a commissioner from each country.

The current dispute revolves around the Kishenganga (330 megawatts) and Ratle (850 megawatts) hydroelectric plants. India is building the plants on the Kishanganga and Chenab rivers, which Pakistan claims violates the IWT.

Tensions over the water dispute increased late last month when Prime Minister Narendra Modi threatened to block the flow of waters into Pakistan, the daily said. Both sides had already completed the process proposed in the IWT and approached the World Bank only after the commission declared it "a dispute" as required, experts were quoted as saying.

"Dragging it through an already exhausted process will not help," an expert said. "Pakistan was seeking a court of arbitration because only the proposed court had the authority to consider both legal and technical aspects of the dispute. A neutral expert could only consider the technical aspects," the daily said.

Pakistan argues that the designs of the two Indian projects violate both legal and technical provisions of the treaty. India, however, has opposed Pakistan's efforts for setting up a court of arbitration.

Earlier this week, the World Bank announced pausing of the two separate processes initiated under the IWT to allow the two countries to consider alternative ways to resolve their disagreements.

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Agencies
March 1,2020

Washington, Mar 1: Beginning April 1, Indians wishing to immigrate to America will now have to pay an additional $50,000 for the EB-5 or the US investor visa, a media report said.

Although, this additional tax would impact all visa categories, it will predominantly create a barrier for people investing in the EB-5 visa programme, the American Bazaar daily said in the report on Friday.

In 2019, the EB-5 investor visa programme, for the first time since the 1990's, increased the minimum investment amount to $900,000.

With this increase in minimum investment, the new 5 per cent additional tax would mean that applicants would have to pay the extra $50,000, when they move money to an escrow account in the US to fulfil their application criterion.

"The changes to the tax on remittances is a reminder to Indians to carefully plan their tax position before making the move to the US," the American Bazaar quoted Mark Davies, Global Chairman, Davies & Associates LLC, as saying.

"People seeking to emigrate who do not wish to pay this tax at source and rather account for it later may wish to move their money ahead of the new rules coming into effect.

"It is possible to pre-emptively move money into an escrow account in the US until such a time as they are ready to proceed with emigration process," he added.

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News Network
March 16,2020

New Delhi, Mar 16: Due to the coronavirus pandemic, most airlines in the world will be bankrupt by the end of May and only a coordinated government and industry action right now can avoid the catastrophe, said global aviation consultancy firm CAPA in a note on Monday.

"As the impact of the coronavirus and multiple government travel reactions sweep through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants," it stated.

Across the world, airlines have announced drastic reduction in their operations in the wake of the coronavirus outbreak. For example, Atlanta-based Delta Air Lines stated on Sunday that it would be grounding 300 aircraft in its fleet and reduce flights by 40 per cent.

The US has suspended all tourist visas for people belonging to the European Union, the UK and Ireland. Similarly, the Indian government has suspended all tourist visas and e-visas granted on or before March 11.

CAPA, in its note on Monday, said, "By the end of May-2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed - now - if catastrophe is to be avoided."

Cash reserves are running down quickly as fleets are grounded and "what flights there are operate much less than half full", it added.

"Forward bookings are far outweighed by cancellations and each time there is a new government recommendation it is to discourage flying. Demand is drying up in ways that are completely unprecedented. Normality is not yet on the horizon," it said.

India's largest airline IndiGo -- which has around 260 planes in its fleet -- said on Thursday that it has seen a decline of 15-20 per cent in daily bookings in the last few days.

The low-cost carrier had stated that it expects its quarterly earnings to be materially impacted due to such decline.

CAPA said the failure to coordinate the future will result in protectionism and much less competition.

"The alternative does not bear thinking about. An unstructured and nationalistic outcome will not be survival of the fittest.

"It will mostly consist of airlines that are the biggest and the best-supported by their governments. The system will reek of nationalism. And it will not serve the needs of the 21st century world. That is not a prospect that any responsible government should be prepared to contemplate," the consultancy firm said.

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Agencies
August 7,2020

Moscow, Aug 7: Russia will register its first vaccine against the coronavirus on August 12, Deputy Health Minister Oleg Gridnev said on Friday.

The vaccine has been developed jointly by the Gamaleya Research Institute and the Russian Defence Ministry.

"The vaccine developed by the Gamaleya centre will be registered on August 12. At the moment, the last, third, stage is underway. The trials are extremely important. We have to understand that the vaccine must be safe. Medical professionals and senior citizens will be the first to get vaccinated," Gridnev told reporters at the opening of a cancer centre building in the city of Ufa.

According to the minister, the effectiveness of the vaccine will be judged when the population immunity has formed.

Clinical trials of the vaccine began on June 18 and included 38 volunteers. All of the participants developed immunity. 

The first group was discharged on July 15 and the second group on July 20.

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