IIPM News Broadcast: May 2011

Friday, May 27, 2011

Government in Standby Mode Regarding Petrol Price Hike

With global crude oil prices on the downswing, the UPA government is adopting a wait-and-watch policy before taking the political plunge to raise prices of controlled petroleum products —diesel, cooking gas and kerosene.

Though the buzz was that the Empowered Group of Ministers (EGoM) — which is authorised to decide the increases — was likely to meet on June 9, sources said there was no official confirmation from the EGoM chairman’s office to freeze that date for the meeting. The delay in holding the meeting, first scheduled for May 11, has eased the headache for the UPA as the under-recovery has significantly climbed down, except in the case of domestic LPG, from what was estimated at that time.

Based on a fortnight-ago prices, the losses in June on petrol would be a meager Re 1 a litre compared to Rs 5.50 estimated when its price was last raised on May 15. Loss on diesel would be down to Rs 12.45 a litre versus Rs 16.17 in the first week of May. Similarly, the under-recovery on kerosene would be around Rs 26 from Rs 28.28 a litre. However, under-recovery on cooking gas would climb to Rs 380 from Rs 329.73 per cylinder.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Thursday, May 26, 2011

Headley says he was trained in espionage by ISI

Mumbai attacks co-accused David Coleman Headley has testified that he received espionage training against India from Pakistan’s spy agency Inter Services Intelligence (ISI).

“ISI did provide me (espionage) training,” Headley told a Chicago court as he was grilled by the defence attorney Charles D Swift on the third day of the trial of Pakistani-Canadian Tahawwur Rana, another co-accused in the 26/11 attacks, in a Chicago court.

The statements formed part of the testimony of Headley, who has pleaded guilty.
The ISI training to Headley was provided by Major Iqbal, who was his ISI handler, in a two-storey safe house in Lahore near the airport, the Mumbai terror suspect told judges during the course of questioning by Swift.

Headley told the court that when he met Major Iqbal in 2006, he expressed dissatisfaction at the military and espionage training that he had received from the Let earlier.

Headley told the defence attorney that this training in espionage against India was given to him in Lahore on the streets and a safe house near the airport.

Despite repeated questioning, Headley said that he did not know the full name of Major Iqbal, but was sure that he was from the ISI.

He was introduced as Major Iqbal to him. Headley said he never went to the ISI headquarters and added that he was introduced to Major Iqbal by military personnel, a fact corroborated by the unsealed document.

When questioned by Swift, Headley told the court that both the ISI and Major Iqbal trained him for espionage against India. He was expected to go to India, make contacts.

The ISI and Major Iqbal were particularly motivated by the fact that he was US born and an American national, this would have concealed his real identity in India.

“They (ISI and Major Iqbal) wanted me to have a business so as to have the ability to have a long tern stay in India. In discussion with them I suggested it to take the help of Dr Rana’s (Tahawwur Rana) business to get this objective,” Headley said.

Wednesday, May 25, 2011

Blast near US Embassy in Peshawar

Pakistan suffered yet again when a blast that took place near US Embassy in Peshawar killed two and injured 29 people.

A suicide car bomber struck a police facility in an army cantonment in Pakistan's main northwest city early Wednesday. Pakistan news channels are calling it a terrorist attack.

Though no group immediately claimed responsibility for the latest attack, it added to fears that it will be a bloody summer as Pakistani Taliban and other Al Qaeda affiliated groups carry out threats to avenge the Al Qaeda chief's slaying.

The bomber's target early Wednesday morning appeared to be a building belonging to the police's criminal investigation department, but Pakistani army facilities also were nearby, said Liaquat Ali Khan, a senior police official in Peshawar.