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Baglihar dam: New Delhi to take `appropriate action'

     New Delhi: The Ministry of External Affairs (MEA) today said that it would take "appropriate action" against the Pakistan's decision to approach the World Bank over the controversial Baglihar Dam project in Kashmir. The statement comes a few days after the talks between the two countries failed to resolve the dispute over the project. "If Pakistan still chooses to go to the World Bank disregarding the offer that we have made for further technical discussions, then we will respond appropriately," MEA spokesman Navtej Sarna told reporters in New Delhi. He added: "Well, our stand is very well known on the Baglihar project which is a run off river project. And, we believe it is fully compatible with the provisions of the Indus Water Treaty between the two countries. In the recently concluded talks between India and Pakistan on the Baglihar Project the Indian side presented very detailed, technical information to the Pakistani side to convince them that in our view there is no ground for any apprehension that the project violates the Indus Water Treaty."

     The river water dispute centres on India's construction of the one billion dollar Baglihar hydropower dam on the Chenab river, which flows from Kashmir into Pakistan. Islamabad has objected to the design of the dam saying it would affect river's flows into its territory. It also alleges that India's action also contravenes the water- sharing treaty brokered by the World Bank. India's contention is that the 450-megawatt power project does not propose to store water and will not disrupt flows. Pakistan said India had proposed construction of the dam in 1992 and began building in 2000 even though it had not approved the design as required by the Indus Water Treaty. Under the Treaty, India have rights over the waters of the Ravi, Sutlej and Beas rivers while Pakistan has rights over the waters of the Indus, the Chenab and the Jhelum. All the rivers flow from India to Pakistan. Islamabad is also worried that the project could present a strategic threat, giving India the control over waters vital to agriculture in Punjab (in Pakistan), analysts say.

Pak to open more nuclear power plants (Go To Top)

     Islamabad: Pakistan has said that it would open more nuclear power plants in the country. According to the Dawn, the Pakistan Atomic Energy Commission (PAEC) has said that more nuclear power plans were needed to end the country's dependence on traditional sources of energy like oil, gas and other means of energy. The paper quoted PAEC Chairman Chairman Pervez Butt while opening a week-long "IAEA/PAEC national workshop on enhancing capability of utility and regulatory body to communicate with public and media." "Based on this indigenous strength, we plan to build many more nuclear power plants to contribute significantly to the national requirements in the wake of accelerated development of the country," the paper quoted him as saying. He said that in the face of global warming caused by greenhouse gases, nuclear energy was the only alternative for a pollution free environment. "With the passage of time, nations have acknowledged that nuclear energy is clean. The advantages of excelling in the nuclear energy field are limitless. France utilises 75 per cent of nuclear power to generate electricity, Japan 45 per cent, the US 20 per cent while Pakistan uses only 1 per cent," he added.

Bush names Hubbard as top economic advisor (Go To Top)

     Washington: US President George W Bush has named businessman and political fund-raiser Allan B Hubbard as his top economic advisor. 57-year-old Hubbard, named by Bush to be the Assistant to the President for Economic Policy and Director of the National Economic Council, will replace Stephen Friedman. "Al Hubbard is a top business executive with nearly 30 years of experience at the helm of a successful company. He's a proven leader with top-notch management skills. Al will make a great addition to my economic team," Bush said.

India's exports cross 53 bln dollars (Go To Top)

    New Delhi: India's exports are estimated to have crossed 53 billion dollars during nine months of current financial year 2004-05 and the export growth rate in April- December is estimated to be over 23 per cent. According to a press release, thus, the surge in India's exports is continuing despite appreciation of the rupee and the double- digit growth of over 20 per cent is being sustained. Detailed trade data based on Directorate General of Commercial Intelligence and Statistics (DGCI&S) provisional figures would be available tomorrow. Meanwhile, Kamal Nath has announced an export target of 88 billion dollars for the next financial year 2005-06. In pursuance of this, the Ministry of Commerce and Industry is interacting with the concerned Export Promotion Councils and Commodity Boards to finalise the targets sector-wise and commodity-wise for each of the next four years to enhance India's exports to the level of 88 billion dollars in 2005-06, 104 billion dollars in 2006-07, 125 billion dollars in 2007-08 and 150 billion dollars in 2008- 09.