Pak regurgitating failed approach on Kashmir: India

Agencies
August 30, 2018

United Nations, Aug 30: Pakistan's new government must not indulge in "polemics" but work to build a South Asian region free of terror and violence, India has said after Pakistan raked up the Kashmir issue at the UN Security Council.

India's Permanent Representative to the UN Ambassador Syed Akbaruddin's remarks came during the UNSC debate on Mediation and Settlement of Disputes.

"…I take this opportunity to remind - Pakistan - the one isolated delegation that made unwarranted references to an integral part of India, that pacific settlement requires pacific intent in thinking and pacific content in action," Akbaruddin said at the debate yesterday.

Pakistan's Ambassador Maleeha Lodhi raked up the Kashmir issue during the debate, drawing a sharp reaction from Akbaruddin who said Pakistan is "regurgitating a failed approach, which has long been rejected, is neither reflective of pacific intent nor a display of pacific content.

"We hope that the new government of Pakistan will, rather than indulge in polemics, work constructively to build a safe, stable, secure and developed South Asian region, free of terror and violence," Akbaruddin said, a reference to the government in Pakistan under newly-elected Prime Minister Imran Khan.

In her remarks, Lodhi said the "Jammu and Kashmir dispute remains a long-standing issue" on the agenda of the Council. She said through its various resolutions, the Security Council has provided that the final disposition of the State of Jammu and Kashmir will be made in accordance with the will of the people "expressed through the democratic method of a free and impartial plebiscite" conducted under the auspices of the United Nations.

She said the Security Council also instituted several mechanisms including the UN Commission on India and Pakistan (UNCIP), the deployment of the UN Military Observer Group in India and Pakistan (UNMOGIP) and the appointment of UN representatives.

"Sadly, these resolutions remain unimplemented to date. The international community cannot succeed in its efforts to strengthen conflict prevention and promote pacific dispute settlement if the Security Council’s own resolutions are held in abeyance, by some.

"What is, at stake is both the Council's credibility as well as the objective of durable peace in our region. We must not fail these tests," she said.

Akbaruddin said as recognized by the UN Charter, pacific settlement of disputes can be through a variety of mechanisms and today, there are numerous actors and many forms of pacific settlement that may be better suited to address different issues.

"Instead of putting the United Nations at the center of mediation efforts and exhorting States to support them, perhaps, the international community should lend encouragement to those most motivated and having the capacity to do so to settle these, as appropriate," he said."

"Of course, there could be many forms of division of tasks of pacific settlement of disputes between the United Nations and other concerned actors that can undoubtedly be devised. It is important, however, not to charge the United Nations with responsibilities that it maybe ill-suited to perform. Mediation, in every circumstance, is one such task, it is not geared to fulfil," he said.

Mediation, on the face of it, is based on the interest, consent and commitment by all parties for a peaceful settlement. He stressed that the issue is not whether mediation is a useful tool for peaceful settlement.

"Where acceptable to all parties, it is, in a manner of speaking, settled international law," he said.

Akbaruddin said the questions to be addressed are whether the apparatus of the United Nations, as currently constituted, can perform many of the basic functions required for effective mediation and are the mechanisms at the disposal of the United Nations coherent and flexible to guide dynamic negotiations with an effective strategy.

He pointed out that the United Nations, and in particular the Security Council, does not come to mediation unencumbered. The problems of the United Nations apparatus as a mediator are ingrained in the nature of inter-governmental organisations.

"Inter-governmental organisations are hindered by complex decision-making procedures. Add to it the specificities of the U.N. Charter, that is premised on cooperation amongst the permanent members. That cooperation is clearly not evident. Where it does manifest, it invariably takes the form of the lowest common denominator," he said.

Further, policy-making within an international organisation adds another layer of bargaining and trade-offs, he said adding that it requires a time-consuming and uncertain process of consultation and coordination among a multiplicity of actors.

"Such tortuous decision-making process, imbued with political trade-offs, saps the United Nations of necessary dynamism and flexibility in pursuing mediation. Once the UN authorised entities agree on a mediating proposal or framework, it cannot easily be modified in response to changing circumstances. Modification requires renegotiation," he said.

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Agencies
February 26,2020

New Delhi, Feb 26: With the government pushing for the disinvestment of Air India, industrial conglomerate Adani Group may emerge as one of the bidders for the debt-laden national carrier, sources said.

According to highly placed sources, the Group has held internal rounds of deliberations on whether or not to submit an Expression of Interest (EoI) and the discussions are still in the preliminary stage.

If the company actually submits an EoI, it would be a major move towards further diversification of the company which has business interests across sectors right from edible oil, food to mining and minerals. 

It also entered into airport operations and maintenance business and won bids for privatisation of six airports, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram and Mangaluru in 2019. 

On being contacted by IANS, the company did not comment on the matter.

Air India is one of the most important divestment proposals for the current fiscal to reach the huge Rs 2.1 lakh crore target.

The government in January restarted the divestment process of the airline and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Ltd. and 50 per cent in Air India SATS Airport Services Private Ltd.

After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake. In 2018, it had offered to sell its 76 per cent stake in the airline.

Of the total debt of Rs 60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs 23,286 crore.

Air India, along with its subsidiary Air India Express, has a total operational fleet of 146 aeroplanes.

Further, the disinvestment department has extended the last date for submission of written queries on the Performance Information Memorandum and Share Purchase Agreement to March 6.

The last date for submission of written queries on PIM and SPA was originally set for February 11, following which the Department of Investment and Public Asset Management (DIPAM) on February 21 issued 20 clarifications on the queries raised and expected.

Any delay in the tentatively rolled out timeline would also delay DIPAM's plan to identify the pre-qualified bidders by March 31 and the financial bids invitation as well. It is expected to take more than two months after the selection of the pre-qualified bidders to complete Air India's sale.

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Agencies
April 17,2020

New Delhi, Apr 17: The Indian Railways turned 167 years old on Thursday and for the first time ever, its trains did not carry any passengers on its birthday and instead stood idle in the yards waiting for the nationwide lockdown to end.

On this day 167 years ago, the wheels of the first passenger train in the country from Mumbai to Thane started rolling.

In 1974, Indians experienced life without trains for the first time. In May 1974 during the strike of the railways that lasted for around three weeks, drivers, station masters, guards, track staff and many others went on 'chakka jam' demanding fixed working hours for train drivers and an across-the-board pay hike.

"I can recall those times vividly. I remember that our leader George Fernandes had almost secured a deal with the then railway minister, but it fell through when it was taken to the then Prime Minister Indira Gandhi," All India Railwaymens Federation General Secretary Shiv Gopal Mishra, who was an apprentice in the railways at that time, told PTI.

"Fernandes was arrested in Lucknow. The workers went through a lot at that time. But those were days that angry workers had refused to give in and took great risks to get their demands met," he said.

However, just like this time, four decades ago too freight trains carrying essential supplies were run and the unions agreed to let some passenger trains run on the trunk routes like the Kalka Mail from Howrah to Delhi.

"Never ever in its history, there has been such a long interruption of services. Not during the World Wars, not during the 1974 railway strike, or any other national calamity or natural disaster," a railway spokesperson said.

The first Indian Railways passenger train was flagged off on April 16, 1853, from Mumbai to nearby Thane.

On Thursday, the Railway Ministry wished the railways a happy birthday on Twitter - "Today, 167 years ago with the zeal of 'never to stop' the wheels of the first passenger train from Mumbai to Thane started rolling. For the first time, passenger services are stopped for your safety. Stay indoors & make the nation victorious," it said.

Railway has suspended all passenger services since March 25 till May 3 due to the coronavirus outbreak. Around 15,523 trains run by the railways have been affected including 9,000 passenger trains and 3,000 mail express services which are run daily. It caters to over 20 million passengers every day.

According to the Union health ministry, the death toll due to coronavirus rose to 414 and the number of cases to 12,380 in the country on Thursday.

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Agencies
July 19,2020

New Delhi, Jul 19: Indian equities will be driven by a host of factors like corporate earnings, coronavirus cases trend and geo-political developments this week, according to analysts.

Market participants will also keenly watch the progress of monsoon, with experts saying that the farm sector revival will play a key role in lifting the coronavirus-hit economy.

"With no major event, the ongoing earnings season and global cues will continue to dictate the market trend. Besides, the progress of monsoon will also be closely watched," Ajit Mishra, VP - Research, Religare Broking, said.

Globally, the rising coronavirus infections and geo-political tensions have created uncertainty on the economic recovery front.

With India's COVID-19 cases fast approaching the 11 lakh mark, the third-highest behind the US and Brazil, and the death toll nearing 27,000, participants are expected to tread cautiously going forward.

At global level, confirmed COVID-19 cases have crossed 1.4 crore and deaths totalled about 6 lakh.

Markets globally will closely follow developments on the trade and political level between the US and China, according to analysts.

"We would continue witnessing stock-specific action as the earnings season unfold. Though the near-term momentum looks positive, we would advise traders to be cautious, given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns in parts of the country," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

HDFC Bank will remain in focus on Monday after having announced its June quarter earnings on Saturday.

The lender reported 19.6 per cent rise in its standalone net profit at Rs 6,658.62 crore for April-June 2020; while its income rose to Rs 34,453.28 crore during the quarter.

Other major companies to announce their quarterly results this week are Axis Bank, Bajaj Finance, Hindustan Unilever Limited, Bajaj Auto and ITC.

"Going ahead market participants will closely track the development related to covid vaccine, the rising infection of coronavirus, development on economic activities, corporate earnings and US-China relationship," said Sumeet Bagadia, Executive Director, Choice Broking.

On weekly basis, the Sensex gathered 425.81 points or 1.16 per cent, and the Nifty gained 133.65 points or 1.24 per cent.

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