Home

Natwar Singh meets PM over Volcker Report

     New Delhi: External Affairs Minister Natwar Singh on Sunday called on Prime Minister Manmohan Singh over Volcker Report and dismissed the rumours that he plans to resign from the ministry. "I met the Prime Minister a short while ago to discussed the Volcker report and its unsubstantiated references. We also discussed other issues concerning foreign policy matter," said Singh while talking to mediapersons after his meeting with the Prime Minister. According to the sources, standing by his cabinet colleague Manmohan Singh has also ruled out Natwar Singh resignation and said that the Volcker report was insufficient to arrive at any conclusion. Separately, the government held a series of meetings with top leaders to plan the verification of Volcker Report, which listed Natwar Singh and Congress Party as "non-contractual beneficiaries" of the Iraq oil-for-food programme.

     Meanwhile, reports say the Enforcement Directorate under the federal ministry of finance questioned a Delhi-based exporter who has been named in the Volcker report. Andaleeb Sehgal, export director of Hamdan Export, who is said to be a friend of Natwar Singh's son, Jagat Singh was interrogated by a team of officials. Reports say that on behalf of Sehgal's firm, a Swiss company Masefield AG lifted oil barrels under allotments to now federal ruling Congress party and Natwar Singh in 2001. The report by the U.N.-established Independent Inquiry Committee, led by former U.S. Federal Reserve Chairman Paul Volcker, said politicians in several countries were given oil vouchers that could be sold for a commission to help the former Iraqi leader in his attempt to get sanctions lifted. The Congress and 74-year-old Singh were on the list but have denied any wrongdoing and said Volcker did not get in touch with them. However, Volcker had claimed that everyone listed was given a chance to clarify. The pressure on Singh and the Congress party is rising.

     The BJP, which has been demanding Natwar Singh's resignation called for an enquiry by Central Bureau of Investigation (CBI) into the matter. "The facts stated in the Volcker Committee report constitute sufficient material to merit the registration of a regular case by the CBI. Under the Foreign Contribution (Regulation) Act, 1976, no person can accept a foreign contribution or agree to acquire any currency from a foreign source on behalf of any political party. Even otherwise, acceptance of money outside India and payments outside India by persons not so authorised would be an offence under the Foreign Exchange Management Act, 1999," said Arun Jaitley, Senior Bharatiya Janata Party leader. However, the congress party has rubbish the demand and charged that BJP has no authority, moral or democratic to ask for the resignation of Natwar Singh. The U.N. food-for-oil scheme began in 1996 and ended in 2003 and under the programme, Iraq was allowed to sell oil to buy food, medicine and other goods to ease the impact of sanctions. The U.N. report said some 2,200 companies made illicit payments of 1.8 billion dollar to Saddam's government under the scheme.

Leading Indian News Papers

Previous File                 Go To Top

Travel Sites:

Overseas Tourist
Offices

Tourist offices
in India