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by ArabianBusiness.com staff writer on Monday, 23 July 2007
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READERS' COMMENTS
DUBAI FINANCIAL MELTDOWN
Posted by KRISHNAKUMAR S NAIR, DUBAI, UAE on Monday 17 November 2008 at 08:48 UAE time
The governmentwill have to step into action without any further delay. Dark clouds are looming over the financial skies of Dubai. One can see the sprawling and crawling stock market slain reaching to each other for help. The real estate buffs that had just realized that their estates were unreal and virtual, now cry loudly for the elixir of life. How did the Tsunami of financial meltdown reach the shores of Dubai? Were we not well protected by the oil rich and traders haven Gulf and its unique geography? Can the financial Tsunamis put to dust, the strong seismic resistant Investor’s paradise, which disproved all economic theories till date? What went wrong and where? Who is responsible for this doom? What happened to the grey matter of Dubai?
The question is still open and at large available for any one to answer. The term “Investors” needs to be understood with more clarity. When one tries to interpret the term, the range is commonly misconstrued as people having access to large volumes of surplus funds and is currently in the effort of multiplicating them. In the process, one tries to forget the majority who are also classified so, belonging to the category of putting their hard earned savings into financial schemes to add security to their lives and attain financial independence to survive their dark ages which is more of need than greed. The various patients (poor investors) in the hospital catering to financial catastrophes present themselves with following ailments
Stock market burns
Life’s hard earned savings lost completely or minimised to irrecoverable levels in the Stock market. No respite or corrective action or control measures from any governmental bodies, relevant authorities or intelligentsia of Dubai. Stocks and share values tumbling down and down by the hour. People trying to close deals and get out with what they can has plummeted the market further down. Securities and shares are becoming worthless by losing values without any rhyme or reason. One coke 3 ltr bottle and Emaar share cannot be the same value, at least to me and many others. These losses of net worth seriously affect companies as well as their development plans.
The stock market should have been closed as was done in many countries until the fear grip and panic leaves the populace. Investors losing money is not good sign for the stock market which in turn flings the people’s confidence into a black hole of uncertainty. Once again it is a highly counter productive trend for the economy and future of Dubai. Government should inject funds to revive the lost market, build investor confidence and encourage growth of the companies. Government should restrict sale and institutional investor games by not falling prey to power and prejudice.
Real Estate loss of limb
Life’s hard earned savings being threatened by the developer as to be forfeited on non-payment of instalments. Recall the poor investor swung into the game of monopoly unknowingly by the examples of successful so called industrialists who turned around money multi-fold in the un-Real estate market. Recollect developers starting the launch like auction with poor folks waiting at doorstep waiting for their turn under the false belief of securing their fortune – key to the doors of financial independence. The shrewd developer opens the launch with unrealistic prices guaranteeing self approx 300 – 400% ROI; stops after the sale of the first batch of units; increases prices by another mind-boggling figure and starts selling again, giving the poor investor a false perceived value of their investments. This game goes on until they declare that the current launch is completely sold out. The reality is that a few units are still available as reserves which the developer intends to sell at a very high premium once the secondary market has caught up to ever high. Here who is the speculator, the poor investor or the shrewd developer? Who is regulating the developer’s action and checking his records? Where units available when he declared in the launch that they were sold out? How is the price increase of a property within hours of sale justified? Are the reasons hourly escalated construction costs or hourly escalated opportunistic profits? Who will lose the game finally?
The financially strangulated investors (people who build and uphold the economy) whose entire hard earned money coupled with hopes of financial independence lost are now driven to a suicidal point or a point of no return. A feeling of emptiness - everything lost. Any economy is made up of these investors, predominantly middle class with purchasing power when counted together and not by the rich and famous. Here the economical balance is stirred up which gives rise to fear, panic and doubt in turn snowballing the economy into financial frigidity. These courses of events are enough to bring down the developer set aside the entire economy. One should understand the basic truth like day and night there is no seller in the absence of a buyer.
Brains of Dubai should interfere. Fair market value of each property on the primary market should be re-valued on an as is where is basis at least for properties ranging from 0 to 5 million, being the budget barriers of the middle class folks. Parity in prices from the developer amongst units in a single development should be the essence. Extra collected by developers should be refunded. Developers have no right to play with investor’s sentiments, create virtual hype and speculate. Their business is to develop the infrastructure with social responsibility and not to make opportunistic profits. Furthermore to alleviate the surgical damage already caused by the developers, they should revise payment plan to the new fair market value as well as provide holiday on payment defaults and ease the payment plan to a frequency of 6 months or more.
Posted by KRISHNAKUMAR S NAIR, DUBAI, UAE on Monday 17 November 2008 at 08:48 UAE time
The governmentwill have to step into action without any further delay. Dark clouds are looming over the financial skies of Dubai. One can see the sprawling and crawling stock market slain reaching to each other for help. The real estate buffs that had just realized that their estates were unreal and virtual, now cry loudly for the elixir of life. How did the Tsunami of financial meltdown reach the shores of Dubai? Were we not well protected by the oil rich and traders haven Gulf and its unique geography? Can the financial Tsunamis put to dust, the strong seismic resistant Investor’s paradise, which disproved all economic theories till date? What went wrong and where? Who is responsible for this doom? What happened to the grey matter of Dubai?
The question is still open and at large available for any one to answer. The term “Investors” needs to be understood with more clarity. When one tries to interpret the term, the range is commonly misconstrued as people having access to large volumes of surplus funds and is currently in the effort of multiplicating them. In the process, one tries to forget the majority who are also classified so, belonging to the category of putting their hard earned savings into financial schemes to add security to their lives and attain financial independence to survive their dark ages which is more of need than greed. The various patients (poor investors) in the hospital catering to financial catastrophes present themselves with following ailments
Stock market burns
Life’s hard earned savings lost completely or minimised to irrecoverable levels in the Stock market. No respite or corrective action or control measures from any governmental bodies, relevant authorities or intelligentsia of Dubai. Stocks and share values tumbling down and down by the hour. People trying to close deals and get out with what they can has plummeted the market further down. Securities and shares are becoming worthless by losing values without any rhyme or reason. One coke 3 ltr bottle and Emaar share cannot be the same value, at least to me and many others. These losses of net worth seriously affect companies as well as their development plans.
The stock market should have been closed as was done in many countries until the fear grip and panic leaves the populace. Investors losing money is not good sign for the stock market which in turn flings the people’s confidence into a black hole of uncertainty. Once again it is a highly counter productive trend for the economy and future of Dubai. Government should inject funds to revive the lost market, build investor confidence and encourage growth of the companies. Government should restrict sale and institutional investor games by not falling prey to power and prejudice.
Real Estate loss of limb
Life’s hard earned savings being threatened by the developer as to be forfeited on non-payment of instalments. Recall the poor investor swung into the game of monopoly unknowingly by the examples of successful so called industrialists who turned around money multi-fold in the un-Real estate market. Recollect developers starting the launch like auction with poor folks waiting at doorstep waiting for their turn under the false belief of securing their fortune – key to the doors of financial independence. The shrewd developer opens the launch with unrealistic prices guaranteeing self approx 300 – 400% ROI; stops after the sale of the first batch of units; increases prices by another mind-boggling figure and starts selling again, giving the poor investor a false perceived value of their investments. This game goes on until they declare that the current launch is completely sold out. The reality is that a few units are still available as reserves which the developer intends to sell at a very high premium once the secondary market has caught up to ever high. Here who is the speculator, the poor investor or the shrewd developer? Who is regulating the developer’s action and checking his records? Where units available when he declared in the launch that they were sold out? How is the price increase of a property within hours of sale justified? Are the reasons hourly escalated construction costs or hourly escalated opportunistic profits? Who will lose the game finally?
The financially strangulated investors (people who build and uphold the economy) whose entire hard earned money coupled with hopes of financial independence lost are now driven to a suicidal point or a point of no return. A feeling of emptiness - everything lost. Any economy is made up of these investors, predominantly middle class with purchasing power when counted together and not by the rich and famous. Here the economical balance is stirred up which gives rise to fear, panic and doubt in turn snowballing the economy into financial frigidity. These courses of events are enough to bring down the developer set aside the entire economy. One should understand the basic truth like day and night there is no seller in the absence of a buyer.
Brains of Dubai should interfere. Fair market value of each property on the primary market should be re-valued on an as is where is basis at least for properties ranging from 0 to 5 million, being the budget barriers of the middle class folks. Parity in prices from the developer amongst units in a single development should be the essence. Extra collected by developers should be refunded. Developers have no right to play with investor’s sentiments, create virtual hype and speculate. Their business is to develop the infrastructure with social responsibility and not to make opportunistic profits. Furthermore to alleviate the surgical damage already caused by the developers, they should revise payment plan to the new fair market value as well as provide holiday on payment defaults and ease the payment plan to a frequency of 6 months or more.
Raw Sewage on our Beaches
Posted by Nanette Fairley, Dubai on Saturday 27 September 2008 at 12:41 UAE time
As a long time resident of the UAE, I am saddened to see the current state the beautiful because of this country. Not only for tourists and expats, but for nationals alike. I have had the priviledge of listening to elderly UAE nationals speak of their childhood in this place, both the creek and the beach were a big part of those memories. It is a shame that their great grandchildren will only know the Um Sequiem beach as a health hazard to be avoided.
I know it is a tough problem Dubai Municipality but you can solve it!
Posted by Nanette Fairley, Dubai on Saturday 27 September 2008 at 12:41 UAE time
As a long time resident of the UAE, I am saddened to see the current state the beautiful because of this country. Not only for tourists and expats, but for nationals alike. I have had the priviledge of listening to elderly UAE nationals speak of their childhood in this place, both the creek and the beach were a big part of those memories. It is a shame that their great grandchildren will only know the Um Sequiem beach as a health hazard to be avoided.
I know it is a tough problem Dubai Municipality but you can solve it!
Raw sewerage on our beaches
Posted by Alex Fisken, Dubai, UAE on Friday 26 September 2008 at 18:26 UAE time
Good evening,
I am writing to highlight a major health problem at the beaches at Umm Sequim.
For many weeks a storm pipe has been ‘dumping’ raw sewerage into the sea in and around the beaches at Umm Sequim.
The Municipality has been notified on many occasions (and they ignored the problem) until early this week when they eventually closed the pipe.
At 21.00 hours Tuesday night they opened the pipe again and the filthy water is back flooding the beach, the sea and the surrounding area.
The sewage in and around the harbour and public beaches and the beach area in Umm Sequim is a major health hazard to all people who swim or walk and relax on the beach.
The Eid holiday is about to start and many residents and tourists alike, will be enjoying their holiday on the beach.
The 'sewerage slick' spreads over 3-4 kilometres of sea and beach. This is a HEALTH HAZARD.
For health and safety reasons, something must be done now to stop the destruction of Dubai’s beautiful, but now polluted beaches.
Kind regards – Alex Fisken
Posted by Alex Fisken, Dubai, UAE on Friday 26 September 2008 at 18:26 UAE time
Good evening,
I am writing to highlight a major health problem at the beaches at Umm Sequim.
For many weeks a storm pipe has been ‘dumping’ raw sewerage into the sea in and around the beaches at Umm Sequim.
The Municipality has been notified on many occasions (and they ignored the problem) until early this week when they eventually closed the pipe.
At 21.00 hours Tuesday night they opened the pipe again and the filthy water is back flooding the beach, the sea and the surrounding area.
The sewage in and around the harbour and public beaches and the beach area in Umm Sequim is a major health hazard to all people who swim or walk and relax on the beach.
The Eid holiday is about to start and many residents and tourists alike, will be enjoying their holiday on the beach.
The 'sewerage slick' spreads over 3-4 kilometres of sea and beach. This is a HEALTH HAZARD.
For health and safety reasons, something must be done now to stop the destruction of Dubai’s beautiful, but now polluted beaches.
Kind regards – Alex Fisken
WHAT?? ZARDARI AS PRESIDENT OF PAKISTAN?
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Saturday 23 August 2008 at 10:14 UAE time
According to the media, Mr. Asif Zardari, whose only claim to fame is that Mrs. Benazir Bhutto was married to him, is being considered for becoming President of Pakistan!
The man has no claim to fame at all. He is not a political leader, has no political base or following, lacks a political or economic agenda, is not even articulate! His party rode to power, on a sympathy vote, following the assassination of Mrs. Bhutto. Zardari does not know the A, B, C of politics.
Pakistan, is in the danger of slipping into irrelevant fundamentalism, if weak and incompetent leaders are allowed to capitulate themselves into power. How can Pakistanis leave the future of the country and their nuclear arsenal in the hands of a man, without any international experience or knowledge?
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Saturday 23 August 2008 at 10:14 UAE time
According to the media, Mr. Asif Zardari, whose only claim to fame is that Mrs. Benazir Bhutto was married to him, is being considered for becoming President of Pakistan!
The man has no claim to fame at all. He is not a political leader, has no political base or following, lacks a political or economic agenda, is not even articulate! His party rode to power, on a sympathy vote, following the assassination of Mrs. Bhutto. Zardari does not know the A, B, C of politics.
Pakistan, is in the danger of slipping into irrelevant fundamentalism, if weak and incompetent leaders are allowed to capitulate themselves into power. How can Pakistanis leave the future of the country and their nuclear arsenal in the hands of a man, without any international experience or knowledge?
Al Raha Beach at Abu Dhabi
Posted by Jane, London, UK on Tuesday 19 August 2008 at 00:44 UAE time
Reading this article on Damac and other Property Developers gives me pause for thought on the much acclaimed Al Raha Beach Developement by Damacs counterpart in Abu Dhabi, Aldar. This project has spent far more than ever intended on individual developments such as Al Bandar, Al Muneira and Al Zeina where properties have already been sold ...at a loss of hundreds of millions. Costs were underestimated and delays have caused inflation to bite hard. Yes, some have cashed in on the low start costs only to sell at the next release at much inflated costs. Who would want to live on a construction site lasting for 15 years in a completed (it is hoped) condo at £4500 per sq metre in the back row? True the new Aldar HQ looks fantastic as its steel frame reaches for the sky but does anyone realise that it is built with its glass cocoon facing East / West with only window shades to shelter its occupants from the sun (against consultants recommendations). Post completion it could turn out to be the world largest microwave oven in an overcooked market!
Posted by Jane, London, UK on Tuesday 19 August 2008 at 00:44 UAE time
Reading this article on Damac and other Property Developers gives me pause for thought on the much acclaimed Al Raha Beach Developement by Damacs counterpart in Abu Dhabi, Aldar. This project has spent far more than ever intended on individual developments such as Al Bandar, Al Muneira and Al Zeina where properties have already been sold ...at a loss of hundreds of millions. Costs were underestimated and delays have caused inflation to bite hard. Yes, some have cashed in on the low start costs only to sell at the next release at much inflated costs. Who would want to live on a construction site lasting for 15 years in a completed (it is hoped) condo at £4500 per sq metre in the back row? True the new Aldar HQ looks fantastic as its steel frame reaches for the sky but does anyone realise that it is built with its glass cocoon facing East / West with only window shades to shelter its occupants from the sun (against consultants recommendations). Post completion it could turn out to be the world largest microwave oven in an overcooked market!
Comments lost over the last 48 hours
Posted by Editor, Dubai, UAE on Sunday 17 August 2008 at 11:12 UAE time
Kindly note that the ArabianBusiness.com comments server was out over the weekend. All posts were lost during this period.
Kindly repost your comments if you would like to do so.
We apologise for any inconvenience caused.
Posted by Editor, Dubai, UAE on Sunday 17 August 2008 at 11:12 UAE time
Kindly note that the ArabianBusiness.com comments server was out over the weekend. All posts were lost during this period.
Kindly repost your comments if you would like to do so.
We apologise for any inconvenience caused.
Animals of the Gulf region
Posted by Martina Konrad, Dubai on Friday 18 July 2008 at 17:31 UAE time
I loved those pictures of the "Animals of the Gulf region".
Fantastic to make people aware that there is some wildlife out there.
Please continue. How about something on native plants?
Maybe some low mainenance (and zero water) species for the private garden, the hotels or roadside landscape areas and shading plants for parking lots.
Posted by Martina Konrad, Dubai on Friday 18 July 2008 at 17:31 UAE time
I loved those pictures of the "Animals of the Gulf region".
Fantastic to make people aware that there is some wildlife out there.
Please continue. How about something on native plants?
Maybe some low mainenance (and zero water) species for the private garden, the hotels or roadside landscape areas and shading plants for parking lots.
Immigration restrictions
Posted by kambiz Nymo, tehran, iran on Monday 16 June 2008 at 22:35 UAE time
What is the difference between a civilised country and the others? Is it high rise buildings? Of course not.
It is the words credibility and trust a country's government exercises with its power. Last week it was announced by the immigration department that there was no restriction for immigration visas for any nationality. But today all the developers refuse to apply for Iranians because of an immigration notice to ban the visa for them!
This kind of behaviour and a one night's decision does not suit the vision of Dubai to try to inspire people. Do we punish people for their government? All the politics and politician will pass but the PEOPLE will always remain.
This is not good to a neighbour nation whose growth and prosperity has always been shared. Even the USA is not doing such a thing to the Iranian people.
We used to say in Iran that every where sky is the same colour, BLUE.
Posted by kambiz Nymo, tehran, iran on Monday 16 June 2008 at 22:35 UAE time
What is the difference between a civilised country and the others? Is it high rise buildings? Of course not.
It is the words credibility and trust a country's government exercises with its power. Last week it was announced by the immigration department that there was no restriction for immigration visas for any nationality. But today all the developers refuse to apply for Iranians because of an immigration notice to ban the visa for them!
This kind of behaviour and a one night's decision does not suit the vision of Dubai to try to inspire people. Do we punish people for their government? All the politics and politician will pass but the PEOPLE will always remain.
This is not good to a neighbour nation whose growth and prosperity has always been shared. Even the USA is not doing such a thing to the Iranian people.
We used to say in Iran that every where sky is the same colour, BLUE.
DBS Bank Ltd
Posted by Jyoti Keshavan, Dubai, United Arab Emirates on Thursday 17 April 2008 at 16:50 UAE time
Unsure if the DBS Bank needs publicity in the Middle East. The largest South Asia Bank, home grown Singaporean bank, has lived and bred in Asia, is now in Dubai at the DIFC. DBS Bank is the biggest in terms of shareholder funds, sixth largest in Private Banking and employs about 13000 staff. They are the sleeping giant of Asia and silence is the motto. They do things silently that they surprise the world with the recent capital injection into UBS and Merril Lynch. Its worth for Arabian Business to meet the guys who run the Middle East shop and explore the talent.
Posted by Jyoti Keshavan, Dubai, United Arab Emirates on Thursday 17 April 2008 at 16:50 UAE time
Unsure if the DBS Bank needs publicity in the Middle East. The largest South Asia Bank, home grown Singaporean bank, has lived and bred in Asia, is now in Dubai at the DIFC. DBS Bank is the biggest in terms of shareholder funds, sixth largest in Private Banking and employs about 13000 staff. They are the sleeping giant of Asia and silence is the motto. They do things silently that they surprise the world with the recent capital injection into UBS and Merril Lynch. Its worth for Arabian Business to meet the guys who run the Middle East shop and explore the talent.
UN's Louise Arbour under attack over Rwanda
Posted by simone williams, Toronto, Canada on Thursday 17 April 2008 at 04:00 UAE time
An important but barely reported story is the shocking revelations emerging from the lead lawyer of the Rwanda Tribunal. When Louise Arbour was interviewed on Canadian Television. Then Rwanda Tribunal barrister Christopher Black had his say:
http://www.upi.com/Official_Government_Wires/Story/2008049-055109-7508/
Posted by simone williams, Toronto, Canada on Thursday 17 April 2008 at 04:00 UAE time
An important but barely reported story is the shocking revelations emerging from the lead lawyer of the Rwanda Tribunal. When Louise Arbour was interviewed on Canadian Television. Then Rwanda Tribunal barrister Christopher Black had his say:
http://www.upi.com/Official_Government_Wires/Story/2008049-055109-7508/
Request for email address
Posted by A Bakar MD, singapore, singapore on Wednesday 16 April 2008 at 09:01 UAE time
It would be advantageous if this site could provide direct links to the rich and famous. It will open more doors for inventors to knock on their doors to offer their inventions. Or at least this site could be our intermediaries?
Posted by A Bakar MD, singapore, singapore on Wednesday 16 April 2008 at 09:01 UAE time
It would be advantageous if this site could provide direct links to the rich and famous. It will open more doors for inventors to knock on their doors to offer their inventions. Or at least this site could be our intermediaries?
It's got nothing to do with the news article!
Posted by Rodger, Dubai, United Arab Emirates on Monday 14 April 2008 at 17:30 UAE time
Rizwan,
You have missed the point. I don't doubt that the story is important, however the issue here is the frequency with which Mr. Aneja's views appear in the press.
Contrary to your supposition, you do not have to read multiple newspapers in great depth every day to see Mr. Aneja's views, just pick up any newspaper on any day and chances are he'll be in there, telling everyone how the UN is going to solve the world's problems, or that the dictatorships in Cuba or Zimbabwe should just simply give up and let democracy flourish ("Come on Bob, move along now, there's a good chap"). There is enough rubbish in the press without having this sort of stuff printed across several newspapers!
Posted by Rodger, Dubai, United Arab Emirates on Monday 14 April 2008 at 17:30 UAE time
Rizwan,
You have missed the point. I don't doubt that the story is important, however the issue here is the frequency with which Mr. Aneja's views appear in the press.
Contrary to your supposition, you do not have to read multiple newspapers in great depth every day to see Mr. Aneja's views, just pick up any newspaper on any day and chances are he'll be in there, telling everyone how the UN is going to solve the world's problems, or that the dictatorships in Cuba or Zimbabwe should just simply give up and let democracy flourish ("Come on Bob, move along now, there's a good chap"). There is enough rubbish in the press without having this sort of stuff printed across several newspapers!
Sacking
Posted by Rizwan, Dubai, United Arab Emirates on Monday 14 April 2008 at 15:29 UAE time
I wonder why Mr. Rodger would make such a hue and cry about an article he has seen twice in two different media! He could have easily ignored reading it the second time rather than taking out his precious little time to make such a silly comment. I believe the issue warranted the general public's notice of it and once again brought in to light the unfair treatment that some esteemed editors such as Mr. Akbar and Mr. Singh have had to deal with. But these are tough guys and when the going gets tough, the tough do get going.
And mind you, not everyone has enough time to lay their eyes on every bit of newspaper they can. Some, like myself, rely largely on Arabianbusiness.com for unbiased stories.
Posted by Rizwan, Dubai, United Arab Emirates on Monday 14 April 2008 at 15:29 UAE time
I wonder why Mr. Rodger would make such a hue and cry about an article he has seen twice in two different media! He could have easily ignored reading it the second time rather than taking out his precious little time to make such a silly comment. I believe the issue warranted the general public's notice of it and once again brought in to light the unfair treatment that some esteemed editors such as Mr. Akbar and Mr. Singh have had to deal with. But these are tough guys and when the going gets tough, the tough do get going.
And mind you, not everyone has enough time to lay their eyes on every bit of newspaper they can. Some, like myself, rely largely on Arabianbusiness.com for unbiased stories.
Develpers defrauding people
Posted by Susan Gavi, Dubai, Dubai on Sunday 13 April 2008 at 16:15 UAE time
We picked up a property in JLT. Our project, which was initially due in 2007 end was pushed further down to 2008 end. Last month, we were told it is being pushed down further to 2009 end. We bought this apartment under a scheme, according to which the third installment would be made 6 mths before completion and the last 60% would be paid only on delivery. When the developer pushed the delivery date by a year, we said we will delay our 3rd payment. When they pushed the delivery date by yet another year, we said we wanted our 3rd installment delayed further. we were then told that a new payment scheme was in place by RERA according to which we couldn't pay 60% upon completion; we had to pay different amounts before completion. I thought RERA insitututed this to protect investors such as ourselves. On the first hand, the developer delayed the project by two years. Now he waves a RERA form before me and tells me my payment scheme which has been signed by the developer and myself is no longer valid. That I need to pay more than I have paid for a project that has been delayed for so long. There is, of course, no talk of compensation for such a long delay. Is there no authority that can protect us from such bad practices?
Posted by Susan Gavi, Dubai, Dubai on Sunday 13 April 2008 at 16:15 UAE time
We picked up a property in JLT. Our project, which was initially due in 2007 end was pushed further down to 2008 end. Last month, we were told it is being pushed down further to 2009 end. We bought this apartment under a scheme, according to which the third installment would be made 6 mths before completion and the last 60% would be paid only on delivery. When the developer pushed the delivery date by a year, we said we will delay our 3rd payment. When they pushed the delivery date by yet another year, we said we wanted our 3rd installment delayed further. we were then told that a new payment scheme was in place by RERA according to which we couldn't pay 60% upon completion; we had to pay different amounts before completion. I thought RERA insitututed this to protect investors such as ourselves. On the first hand, the developer delayed the project by two years. Now he waves a RERA form before me and tells me my payment scheme which has been signed by the developer and myself is no longer valid. That I need to pay more than I have paid for a project that has been delayed for so long. There is, of course, no talk of compensation for such a long delay. Is there no authority that can protect us from such bad practices?
Escalating Construction Cost
Posted by PEYUSH SINGH, Muscat, OMAN on Sunday 13 April 2008 at 14:28 UAE time
Over the time and ages we have understood construction projects are time taking.
Over it's stages of conception, budgeting,bidding,engineering, construction, rise in cost is un-avoidable. (That's what construction is all about). So why don't we have an essential escalation clause in our workings. Afterall we have a booming economy and we need not wait for the rest to initiate a concept and then we to follow it. It's our request to organisations like FIDIC for making escalation a compulsory clause in Tenders. I believe, since people from construction themselves are not the ones on helm and ruling, that's why in-experienced people have caused so much disparity and loopholes in construction works.
Posted by PEYUSH SINGH, Muscat, OMAN on Sunday 13 April 2008 at 14:28 UAE time
Over the time and ages we have understood construction projects are time taking.
Over it's stages of conception, budgeting,bidding,engineering, construction, rise in cost is un-avoidable. (That's what construction is all about). So why don't we have an essential escalation clause in our workings. Afterall we have a booming economy and we need not wait for the rest to initiate a concept and then we to follow it. It's our request to organisations like FIDIC for making escalation a compulsory clause in Tenders. I believe, since people from construction themselves are not the ones on helm and ruling, that's why in-experienced people have caused so much disparity and loopholes in construction works.
Greed Strickened Property Developers
Posted by Albert L, Vallejo, USA on Monday 7 April 2008 at 10:58 UAE time
Some property developers are purposely defrauding clients in the name of greed. Contracts are poorly written and clients are not being compensated for such events as project delays, not installing as promised fixtures and appliances, delivering poor workmanship by not monitoring and conducting proper site inspections during each construction phase of project. Some specific contract legal language should be mandated by the government to be a part of every individually written contract to protect every individual from such acts of greed.
Sure clients have the option to consult with real estate lawyers, but with proper customary government regulatory laws in place this would be less of a problem. Many foreign purchasers are being taken for granted by such greed strickened developers. The government should have a complaint mechanism for individual property buyers who have been defrauded by these ticks who by doing such acts give a bad name to the industry as a whole. The government has changed many laws to protect buyers, but the names of these developers should be compiled and made public through vigilent government oversight. Once this occurs these greed stricken ticks will no longer be able to hide in the shadows praying on the individual buyer seeking to make an honest deal.
They go further by setting themselves up as the initial association directors. They fail to manage within the guidelines of the association bylaws and expect the owners to pay the yearly association dues. The bylaws often do not state that the management can be fired by members of the assocation for mis-management and failure to perform its duties under the terms of the association agreement. These and other areas need to be taken under consideration by the government for oversight. Ownership under the rules of Association is a new area of concern in which many buyers in the region are not familiar with. I feel that without government intervention many individual investors and homeowners will continue to be defrauded. Again I feel that legal language as mandated by the goverment should be made part of such association bylaws and agreements to protect property owners from mis-management by such managers of Property Associations.
If conplaints can be filed against such greed strickened developers and management organizations, where and to whom are they to be addressed? If the property market is to be one of honesty and strong moral structure than their are many changes still needing consideration by the government to strengthen the confidence of buyers both foreign and domestic.
Posted by Albert L, Vallejo, USA on Monday 7 April 2008 at 10:58 UAE time
Some property developers are purposely defrauding clients in the name of greed. Contracts are poorly written and clients are not being compensated for such events as project delays, not installing as promised fixtures and appliances, delivering poor workmanship by not monitoring and conducting proper site inspections during each construction phase of project. Some specific contract legal language should be mandated by the government to be a part of every individually written contract to protect every individual from such acts of greed.
Sure clients have the option to consult with real estate lawyers, but with proper customary government regulatory laws in place this would be less of a problem. Many foreign purchasers are being taken for granted by such greed strickened developers. The government should have a complaint mechanism for individual property buyers who have been defrauded by these ticks who by doing such acts give a bad name to the industry as a whole. The government has changed many laws to protect buyers, but the names of these developers should be compiled and made public through vigilent government oversight. Once this occurs these greed stricken ticks will no longer be able to hide in the shadows praying on the individual buyer seeking to make an honest deal.
They go further by setting themselves up as the initial association directors. They fail to manage within the guidelines of the association bylaws and expect the owners to pay the yearly association dues. The bylaws often do not state that the management can be fired by members of the assocation for mis-management and failure to perform its duties under the terms of the association agreement. These and other areas need to be taken under consideration by the government for oversight. Ownership under the rules of Association is a new area of concern in which many buyers in the region are not familiar with. I feel that without government intervention many individual investors and homeowners will continue to be defrauded. Again I feel that legal language as mandated by the goverment should be made part of such association bylaws and agreements to protect property owners from mis-management by such managers of Property Associations.
If conplaints can be filed against such greed strickened developers and management organizations, where and to whom are they to be addressed? If the property market is to be one of honesty and strong moral structure than their are many changes still needing consideration by the government to strengthen the confidence of buyers both foreign and domestic.
The last word on the last word
Posted by Rodger, Dubai, United Arab Emirates on Wednesday 19 March 2008 at 17:24 UAE time
Most media outlets insist that any letter submitted for publication is exclusive to that particular paper or website. This same letter of Mr. Aneja's has been printed verbatim in today's 7days. It's bad enough reading his banal rubbish once, twice in one day really is excessive!
Editors reply We would hope that any contributor to an ArabianBusiness.com debate would be writing exclusively to engage our readers. While we have no means stop someone submitting that same comment to a newspaper one day later, we would respectively ask, if you want to publish a letter elsewhere, please do so - but do not publish the exact same comment on ArabianBusiness.com.
Posted by Rodger, Dubai, United Arab Emirates on Wednesday 19 March 2008 at 17:24 UAE time
Most media outlets insist that any letter submitted for publication is exclusive to that particular paper or website. This same letter of Mr. Aneja's has been printed verbatim in today's 7days. It's bad enough reading his banal rubbish once, twice in one day really is excessive!
Editors reply We would hope that any contributor to an ArabianBusiness.com debate would be writing exclusively to engage our readers. While we have no means stop someone submitting that same comment to a newspaper one day later, we would respectively ask, if you want to publish a letter elsewhere, please do so - but do not publish the exact same comment on ArabianBusiness.com.
ROTTEN SACKING OF INDIAN EDITOR: MR M. J. AKBAR
Posted by RAJENDRA ANEJA, DUBAI, UAE on Wednesday 19 March 2008 at 11:43 UAE time
It is a rotten commentary on the Indian publishers, that a journalist of the maturity and seniority of Mr. M.J. Akbar, has been removed from his assignment, as editor of “Asian Age”, so wretchedly. He learnt about his ouster through an SMS sent by a colleague asking him to see the masthead of the newspaper. He realized then, that his name was missing from the newspaper, and he was no longer its editor.
Is this the way to treat people who build newspapers and institutions? Increasingly in many countries, newspapers are being remote managed by marketing and circulation departments. Editorial staff and pages are being pushed into the background. Thus, circulation and advertising revenues are determining the success of a newspaper. In earlier years, the worth of a newspaper was measured by the impact it had on the thinking of the people and Government policy.
Mr. Akbar is a very enterprising and bright journalist. He will land on his feet, and create another successful journal. “The Telegraph” in Calcutta was also his baby. He was a Member of Parliament and also wrote the Congress Manifesto! His book on the first Prime Minister of India, Pandit Nehru is excellent. I happened to be with him, the day Mr. Bhutto was executed in Pakistan. He wrote an editorial, with his fountain pen, with a thick nib, and faxed it. I have preserved the original.
Akbar cannot be mowed down or depressed. He is in illustrious company. The finest editors in India, were all sacked or treated callously by their publishers. Amongst them is Mr. Frank Moraes, about whom it is said, he was an editor, who comes once in a generation. And again, Mr. Kushwant Singh, the man who built the Illustrated Weekly of India. He learnt about his termination from a note brought by the office peon. Mr. Khuswant Singh picked up his umbrella and walked out of the office.
As long as the ink flows through the pen of a writer, no publisher or government can silence him.
Rajendra Aneja
Posted by RAJENDRA ANEJA, DUBAI, UAE on Wednesday 19 March 2008 at 11:43 UAE time
It is a rotten commentary on the Indian publishers, that a journalist of the maturity and seniority of Mr. M.J. Akbar, has been removed from his assignment, as editor of “Asian Age”, so wretchedly. He learnt about his ouster through an SMS sent by a colleague asking him to see the masthead of the newspaper. He realized then, that his name was missing from the newspaper, and he was no longer its editor.
Is this the way to treat people who build newspapers and institutions? Increasingly in many countries, newspapers are being remote managed by marketing and circulation departments. Editorial staff and pages are being pushed into the background. Thus, circulation and advertising revenues are determining the success of a newspaper. In earlier years, the worth of a newspaper was measured by the impact it had on the thinking of the people and Government policy.
Mr. Akbar is a very enterprising and bright journalist. He will land on his feet, and create another successful journal. “The Telegraph” in Calcutta was also his baby. He was a Member of Parliament and also wrote the Congress Manifesto! His book on the first Prime Minister of India, Pandit Nehru is excellent. I happened to be with him, the day Mr. Bhutto was executed in Pakistan. He wrote an editorial, with his fountain pen, with a thick nib, and faxed it. I have preserved the original.
Akbar cannot be mowed down or depressed. He is in illustrious company. The finest editors in India, were all sacked or treated callously by their publishers. Amongst them is Mr. Frank Moraes, about whom it is said, he was an editor, who comes once in a generation. And again, Mr. Kushwant Singh, the man who built the Illustrated Weekly of India. He learnt about his termination from a note brought by the office peon. Mr. Khuswant Singh picked up his umbrella and walked out of the office.
As long as the ink flows through the pen of a writer, no publisher or government can silence him.
Rajendra Aneja
PRIVACY OF LEADERS
Posted by RAJENDRA ANEJA, DUBAI, UAE on Wednesday 12 March 2008 at 14:13 UAE time
New York State Governor Spitzer is facing calls to resign or face impeachment over allegations that he hired a prostitute.
Mr. Spitzer's personal life should not govern his public life. He has not hurt, maimed or cheated anyone. Why should he have to resign?
Leaders have their private lives, which concern their family members. A leader is elected/selected for his leadership and delivery qualities, not his private life, provided the laws of the land are not broken. Opposition members always pillory their opponent leaders on such flippant issues. How clean are those who throw stones at others? Some years ago, President Clinton was also harrassed viciously on a personal issue.
Society should not judge issues, which concern Spitzer's family.
Posted by RAJENDRA ANEJA, DUBAI, UAE on Wednesday 12 March 2008 at 14:13 UAE time
New York State Governor Spitzer is facing calls to resign or face impeachment over allegations that he hired a prostitute.
Mr. Spitzer's personal life should not govern his public life. He has not hurt, maimed or cheated anyone. Why should he have to resign?
Leaders have their private lives, which concern their family members. A leader is elected/selected for his leadership and delivery qualities, not his private life, provided the laws of the land are not broken. Opposition members always pillory their opponent leaders on such flippant issues. How clean are those who throw stones at others? Some years ago, President Clinton was also harrassed viciously on a personal issue.
Society should not judge issues, which concern Spitzer's family.
A 10 POINT AGENDA FOR CUBA
Posted by RAJENDRA ANEJA, DUBAI, UAE on Monday 25 February 2008 at 15:13 UAE time
Raul Castro, is now officially the President of Cuba. Clearly, Cuba is not a country, but a family business of the Castros!
Nevertheless, his 10 point Agenda for Cuba should be:
1. Accept new world realities, technologies
2. Liberalise industry, welcome investment and cut military spends
3. Ensure freedom of speech for all citizens
4. Stop arbitrary imprisonments for dissenters
5. Cease regulating agriculture and farmers
6. Build bridges with the West, specially USA
7. Foster entrepreneurial spirit amongst citizens
8. Discourage personality cults
9. Dump communism
10. Hold free elections.
Posted by RAJENDRA ANEJA, DUBAI, UAE on Monday 25 February 2008 at 15:13 UAE time
Raul Castro, is now officially the President of Cuba. Clearly, Cuba is not a country, but a family business of the Castros!
Nevertheless, his 10 point Agenda for Cuba should be:
1. Accept new world realities, technologies
2. Liberalise industry, welcome investment and cut military spends
3. Ensure freedom of speech for all citizens
4. Stop arbitrary imprisonments for dissenters
5. Cease regulating agriculture and farmers
6. Build bridges with the West, specially USA
7. Foster entrepreneurial spirit amongst citizens
8. Discourage personality cults
9. Dump communism
10. Hold free elections.
Castro by Mr. Rajendra K. Aneja and Pakistan too
Posted by Firozali A. Mulla MBA PhD, Dubai, UAE on Sunday 24 February 2008 at 17:15 UAE time
Mr. Aneja. I find your write up very controversial on Cuba. What is your message? Your comments on Cuba and the Soviet Union have so many holes I am surprised that they appear at all.
Posted by Firozali A. Mulla MBA PhD, Dubai, UAE on Sunday 24 February 2008 at 17:15 UAE time
Mr. Aneja. I find your write up very controversial on Cuba. What is your message? Your comments on Cuba and the Soviet Union have so many holes I am surprised that they appear at all.
350 words
Posted by Firozali A. Mulla MBA PhD, Dubai, UAE on Sunday 24 February 2008 at 16:48 UAE time
350 words. That is what your header states, sir, the comments are I read are pass 7000 words. What is the criteria sir?
Editors Reply: 300 words is a good length, but longer is permissible if the entries require it and are well written.
Posted by Firozali A. Mulla MBA PhD, Dubai, UAE on Sunday 24 February 2008 at 16:48 UAE time
350 words. That is what your header states, sir, the comments are I read are pass 7000 words. What is the criteria sir?
Editors Reply: 300 words is a good length, but longer is permissible if the entries require it and are well written.
CASTRO'S DISASTROUS LEGACY
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Thursday 21 February 2008 at 00:18 UAE time
Castro's legacy will survive, like that of his colleague Che Guevara, as a romanticized hero, who could not deliver.
Castro was an absolute failure, politically and economically. Like all dictators, from Stalin to Saddam, Castro, was doomed to failure.
His legacy will be to be remembered for opposing the USA, generally and irrationally. During his tenure of 50 years, most Cubans have struggled to flee to North America (Remember 'Scarface'!) Two million Cubans have fled to the USA, others emigrated to Spain, Mexico, Canada etc. And the standard procedure is for the Cuban government to strip all property from most of those leave! Prominent Cuban artists, professionals, sportsmen, defect and seek asylum, whilst traveling abroad. Miami houses to 700,000 Cuban exiles, who do not wish to return to Cuba.
Communism which brought Castro to power, evaporated about 2 decades ago. Cuba too, had turned capitalist in the last decade offering incentives, encouraging tourism etc. It has a population of 11 million people who are joyous, dancing, musical, but crippled by a wretched per capita income of 4,500 USD, ruled by a outdated, romantic dictator.
Whilst the rest of the world was forging ahead with technology and industry driving growth, Castro and Cuba continued following erstwhile "gurus" in Moscow and Beijing. When the Gurus converted to capitalisms and fashion, Castro continued ploughing the communist yoke, principally keep himself and his cronies in power. Result: in 2002, more than half of Cuba's sugar mills were shut down. Cuba's recent sugar harvest of 1.1 million tons was its lowest in a 100 years, comparable only to those of 1903 and 1904!
The Soviets paid higher than market prices for Cuban sugar, whilst providing Cuba with petroleum at below-market prices. The elimination of these subsidies in the 1980s, sent the Cuban economy into a rapid depression. Before the collapse of the Soviet Union, post the cold war era, Cuba depended on Moscow for protected markets for exports, military and economic aid.
Castro was suspicious of business reforms, believing them to be at variance with socialist principles. He has been an impediment to economic reform, and often reversed them. Agricultural markets are yet regulated and farmers' freedom is circumscribed. It gets more bizarre - a company employing a Cuban, has to pay the government, which then pays the employee in Cuban pesos. As in 2006, the public sector employed 78% of the population, the private sector the balance 22%.
Fidel will be handing over power to his brother. Is Cuba, a country or a family business?
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Thursday 21 February 2008 at 00:18 UAE time
Castro's legacy will survive, like that of his colleague Che Guevara, as a romanticized hero, who could not deliver.
Castro was an absolute failure, politically and economically. Like all dictators, from Stalin to Saddam, Castro, was doomed to failure.
His legacy will be to be remembered for opposing the USA, generally and irrationally. During his tenure of 50 years, most Cubans have struggled to flee to North America (Remember 'Scarface'!) Two million Cubans have fled to the USA, others emigrated to Spain, Mexico, Canada etc. And the standard procedure is for the Cuban government to strip all property from most of those leave! Prominent Cuban artists, professionals, sportsmen, defect and seek asylum, whilst traveling abroad. Miami houses to 700,000 Cuban exiles, who do not wish to return to Cuba.
Communism which brought Castro to power, evaporated about 2 decades ago. Cuba too, had turned capitalist in the last decade offering incentives, encouraging tourism etc. It has a population of 11 million people who are joyous, dancing, musical, but crippled by a wretched per capita income of 4,500 USD, ruled by a outdated, romantic dictator.
Whilst the rest of the world was forging ahead with technology and industry driving growth, Castro and Cuba continued following erstwhile "gurus" in Moscow and Beijing. When the Gurus converted to capitalisms and fashion, Castro continued ploughing the communist yoke, principally keep himself and his cronies in power. Result: in 2002, more than half of Cuba's sugar mills were shut down. Cuba's recent sugar harvest of 1.1 million tons was its lowest in a 100 years, comparable only to those of 1903 and 1904!
The Soviets paid higher than market prices for Cuban sugar, whilst providing Cuba with petroleum at below-market prices. The elimination of these subsidies in the 1980s, sent the Cuban economy into a rapid depression. Before the collapse of the Soviet Union, post the cold war era, Cuba depended on Moscow for protected markets for exports, military and economic aid.
Castro was suspicious of business reforms, believing them to be at variance with socialist principles. He has been an impediment to economic reform, and often reversed them. Agricultural markets are yet regulated and farmers' freedom is circumscribed. It gets more bizarre - a company employing a Cuban, has to pay the government, which then pays the employee in Cuban pesos. As in 2006, the public sector employed 78% of the population, the private sector the balance 22%.
Fidel will be handing over power to his brother. Is Cuba, a country or a family business?
SUBJECT: PRESIDENTIAL CANDIDATE -- MRS. HILLARY CLINTON
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Sunday 3 February 2008 at 09:46 UAE time
Dear Sirs,
SUBJECT: PRESIDENTIAL CANDIDATE -- MRS. HILLARY CLINTON
The President, USA, apart from leading his/her country, also plays a crucial global role. The tenures of Mr. Richard Nixon and Mr. George Bush, exhibit that if disputes are not handled dexterously, there can be unprecedented levels of international turbulence and divisiveness.Mrs. Hillary Clinton should be the Democratic candidate for the President, USA office, for the following reasons:
a) She is more experienced in the Senate and foreign affairs, as evident from her distinguished service and in all debates concerning the Middle East and Iraq.
b) She displays more maturity in her comments than Mr. Obama. Mr. Obama is articulate, but tends to be abrasive and arrogant, and at times, plain condescending. A President cannot have such traits.
c) Mrs. Clinton's views on domestic issues like health care, immigration are well developed and solidly thought through. For instance, Mr. Obama favors giving driving licenses to illegal immigrants. This is sheer nonsense and completely foolish, and an amateur attempt to win popularity amongst some minorities to get votes.
d) She is intelligent and logical in her arguments and has a clear campaign. Mr. Obama, stands for change, but has never really explicated the changes he advocates. His campaign, seems to be just a slogan. Again, he is talking of organizing a Muslim summit, if he becomes President. If Mr. Obama thinks he can resolve problems in the world, by initiating a summit, since he was a Muslim at birth and converted later to Christianity, he is being oversimplistic.
e) Mrs. Clinton's past track record in public service, is known and credible. Mr. Obama is a new comer. , Mr. Obama, born in the Kenya, Lou tribe, has taken no clear stand on the slaughters in Kenya, which the past and present Secretary Generals of the UNO, i.e. Mr. Anan and Mr. Moon, are struggling to control personally in Nairobi. Mr. Obama, as presidential hopeful, cannot maintain a silence, when the country of his birth, is under desperate stress. Recent political bloodbaths in Kenya have raise a sharp alarm, because Mr. Odinga, a Lou tribe candidate is leading the violent campaign against the incumbent President Kibaki, leader of the Kikuyui tribe.
Mr. Obama, has to yet to prove to the world, decisively, that he can play a global role. He shows pathetic knowledge of or flair for international affairs, an area, where USA needs to strengthen significantly. The President, USA, impacts decisions worldwide, daily, and the world needs to be comfortable with the values and beliefs of new candidates.
The New York Times, on 24th January 2008, has rightly endorsed Mrs. Hillary Clinton, as the Democratic Presidential candidate. The people of USA have to be very circumspect. If they make a mistake now, it will be very expensive and torturous to reverse it later. The world would be safer place to live in, if Mrs. Hillary Clinton, is in the White House from 2009 onwards.
With warm regards
Yours sincerely
Rajendra K. Aneja
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Sunday 3 February 2008 at 09:46 UAE time
Dear Sirs,
SUBJECT: PRESIDENTIAL CANDIDATE -- MRS. HILLARY CLINTON
The President, USA, apart from leading his/her country, also plays a crucial global role. The tenures of Mr. Richard Nixon and Mr. George Bush, exhibit that if disputes are not handled dexterously, there can be unprecedented levels of international turbulence and divisiveness.Mrs. Hillary Clinton should be the Democratic candidate for the President, USA office, for the following reasons:
a) She is more experienced in the Senate and foreign affairs, as evident from her distinguished service and in all debates concerning the Middle East and Iraq.
b) She displays more maturity in her comments than Mr. Obama. Mr. Obama is articulate, but tends to be abrasive and arrogant, and at times, plain condescending. A President cannot have such traits.
c) Mrs. Clinton's views on domestic issues like health care, immigration are well developed and solidly thought through. For instance, Mr. Obama favors giving driving licenses to illegal immigrants. This is sheer nonsense and completely foolish, and an amateur attempt to win popularity amongst some minorities to get votes.
d) She is intelligent and logical in her arguments and has a clear campaign. Mr. Obama, stands for change, but has never really explicated the changes he advocates. His campaign, seems to be just a slogan. Again, he is talking of organizing a Muslim summit, if he becomes President. If Mr. Obama thinks he can resolve problems in the world, by initiating a summit, since he was a Muslim at birth and converted later to Christianity, he is being oversimplistic.
e) Mrs. Clinton's past track record in public service, is known and credible. Mr. Obama is a new comer. , Mr. Obama, born in the Kenya, Lou tribe, has taken no clear stand on the slaughters in Kenya, which the past and present Secretary Generals of the UNO, i.e. Mr. Anan and Mr. Moon, are struggling to control personally in Nairobi. Mr. Obama, as presidential hopeful, cannot maintain a silence, when the country of his birth, is under desperate stress. Recent political bloodbaths in Kenya have raise a sharp alarm, because Mr. Odinga, a Lou tribe candidate is leading the violent campaign against the incumbent President Kibaki, leader of the Kikuyui tribe.
Mr. Obama, has to yet to prove to the world, decisively, that he can play a global role. He shows pathetic knowledge of or flair for international affairs, an area, where USA needs to strengthen significantly. The President, USA, impacts decisions worldwide, daily, and the world needs to be comfortable with the values and beliefs of new candidates.
The New York Times, on 24th January 2008, has rightly endorsed Mrs. Hillary Clinton, as the Democratic Presidential candidate. The people of USA have to be very circumspect. If they make a mistake now, it will be very expensive and torturous to reverse it later. The world would be safer place to live in, if Mrs. Hillary Clinton, is in the White House from 2009 onwards.
With warm regards
Yours sincerely
Rajendra K. Aneja
SURVIVING AN EMERGENCY: AN INDIAN EXPERIENCE.
Posted by RAJENDRA ANEJA, DUBAI, UAE on Tuesday 20 November 2007 at 13:00 UAE time
These days, Pakistan is living under an emergency. Over three decades ago, an emergency was imposed in India from 26th June 1975 to 21st March 1977. I kept a diary during those days, describing that I saw in the villages, small towns, and what I heard in the streets. 32 years later, when I go through the pages of my "emergency diary", a chill runs down the spine, at the loss of the human freedom to speak and write freely. I hope the following excerpts will be useful to those who are facing the loss to speak freely in some parts of the world like Pakistan.
“Fear permeates the country, like a fog, which gradually engulfs a city. People do not trust each other. Friends, who work in the media, do not speak much to me on the phone. If they do, the moment I mention the word "emergency", they place the receiver down. I hear rumors about the arrest of persons who discuss the emergency, in trains or buses. In the restaurants, nobody discusses politics. If a table is isolated and empty, my media friends tell me how frustrated they are. (30‑8‑75).
In some states, it is impossible to get a license or a permit till you undergo sterilization. Anyone who wants a license for a gun, a ration card, or a sales tax registration number, has to either undergo sterilization or offer a candidate for the same, to the authorities. In some towns, beggars, lepers, etc. are willing to undergo sterilization, at prices ranging from Rs. 50/‑ (AED 5 app). to Rs. 200/‑. (AED (15‑9‑75).
In some districts, sterilization has become the elementary and plebeian form of punishment for all offences. If you tease a girl, if you pick‑pocket, if you break any civil rule ‑ the only punishment is sterilization. (15‑09‑75).
In an isolated corner of a restaurant in Bombay, two of my friends speak strongly in favor of the emergency. They do not realize the full implications. "There is nothing worth reading in Indian newspapers, in any case", they assert, "only the sports page is interesting". This is their justification of press censorship. My arguments and reasoning with them are futile. (10‑12‑75).
Judges are transferred. Laws are amended to protect some people. The 42nd amendment is pushed through. My fear is that if the mauling of laws continues, the judiciary will lose credibility. (30‑12‑75).
I visit Meerut in Uttar Pradesh. In a school, students aged 8‑9 years, are questioned by the teacher, whether their fathers have undergone sterilization. That night, a young nephew, aged 8, asks my cousin, "Papa, yeh nasbandhi kya hai"? Aap ne kar liya"? ("Dad, what is this sterilization? Have you been through it?") In a bazaar, some shops are to be dismantled. Each shop‑keeper is told that if he brings two candidates for sterilization, his shop would be spared. Beggars, servants, family barbers, etc. are offered incentives of Rs. 200/‑ upwards, to offer themselves as candidates. (15‑7‑76).
Bombay television shows a film of Sanjay Gandhi's rousing reception in Calcutta. He visits the city like a monarch and receives a conqueror's welcome. Flowers, music, "pujas", police outriders, motorcades, speeches to students, workers, businessmen. I do not sleep far into the night. For a number of days, I am disturbed. The speeches are meaningless and bankrupt. There is an absence of seriousness of endeavour. (05‑08‑76).
The smaller the town or village, the greater is the oppression. The more remote a town is from the main cities, the more the arrogance and the arbitrariness of local officials. In a town in Madhya Pradesh, an official uses the strangling powers of the emergency, to arrest a family with whom he had a personal feud. (18‑8‑76).
Another political bigwig visits Bombay. The city is flooded with family planning clinics at every street‑corner. They have sprung overnight like mushrooms. That VIP is given the impression that these clinics are a perpetual phenomenon. Inside one of the booths which I visited, young men and women sit, chatting. In the evening, the VIP speaks at Shivaji Park. He speaks slowly, without any vigor, conviction, anger, strength. The crowd does not respond to him. The clapping is restricted to the circles of chairs chose to the dais, consisting of invitees. He repeats the speeches he has been making all over the country. I stay till the end to watch the "show". The sum and substance of his speeches all over the country is, if you are not with me, you are against the country.
He says people who do not agree with the 20‑point and the 5‑point programmes should be removed, not merely from the Congress, but also from the country. The statement angers me. This country's is nobody's private property. Now, however, many people in power, look upon this country, as their inherited wealth. After the speech, I talk to some people to ascertain their reactions. Nobody wants to comment. A taxi‑driver says, "I do not know what he said". (06‑10‑76).
Many people support the emergency for its emphasis on discipline. Their concept of discipline is linear-trains running on schedule, students attending classes, bus and taxi drivers driving carefully, etc. We do not need a national emergency, banishing the freedom to speak, throttling the right to live as human beings, to enforce disciplines of an elementary nature. (15‑10‑76).
"Seminar" magazine, edited by Mr. Romesh Thapar, has stopped. So has "Opinion" of Mr. A. D. Gorwala. "Quest" has also shut down. The "Economic and Political Weekly", surprisingly, continues. Its "clippings" page reflects the bizarre happenings in the country. Between the lines, one can discern the pattern of coercion, falsehood and arbitrariness in the country. I do not read the newspapers. Every morning, I glance at the commercial page and then discard the paper. (2‑11‑76).
The figures announced by the radio, television and press about the trends in prices, production, economic growth are encouraging. But I do not believe them. There is no way to cross‑check them. The media has lost all credibility. I recollect "1984" by George Orwell, where the production of every product grows by leaps and bounds, but the population continues to wallow in poverty. (30‑12‑76).
At a friend's house, the discussion centers on people's priorities. He strongly feels that the common man wants bread and not freedom. I oppose him. I believe that in the long history of the world, human beings have always struggled and hungered for the right to live freely, even at the cost of food. There is absolutely no doubt in my mind, that in the ultimate analysis, every human being wants to live and work freely. (10‑1‑77).
As the election approaches, the nation starts breathing again. There is light in the eyes of people. People who had been defeated, whose souls were gradually being filled with iron, smile once more). (05‑02‑77).
There is, however, a fatalistic fear that the present leadership could get the levers of power again. I am concerned. I believe if they win again, it will be the absolute end of any hope, we have, of breathing freely. If they win, they will interpret it as public sanction and blessing, for their draconian conduct during the period of the emergency.
While traveling in a taxi in Delhi, I ask the driver, who is he going to vote for. He is very reticent and does not answer. I press him for a reply. Suddenly, he stops the car and starts sobbing like a child. I am unnerved. Between his sobs, he tells me, that his house in Delhi had been razed to the ground. He had lost the few belongings he had earned in previous 5 years. "My family has no house," he tells me. (25‑02‑77).
Wherever I travel, in Uttar Pradesh, Maharashtra, Delhi, Punjab, Haryana, and Madhya Pradesh, the persons I speak to, are very categorical about the party they will vote for. They relate tales of woe, of injustice, of wounds inflicted by arbitrary local powers. There is a sense of determination, this time. A shade of bitterness in the voice, and a hardness in the eye. (3‑3‑77)."
Posted by RAJENDRA ANEJA, DUBAI, UAE on Tuesday 20 November 2007 at 13:00 UAE time
These days, Pakistan is living under an emergency. Over three decades ago, an emergency was imposed in India from 26th June 1975 to 21st March 1977. I kept a diary during those days, describing that I saw in the villages, small towns, and what I heard in the streets. 32 years later, when I go through the pages of my "emergency diary", a chill runs down the spine, at the loss of the human freedom to speak and write freely. I hope the following excerpts will be useful to those who are facing the loss to speak freely in some parts of the world like Pakistan.
“Fear permeates the country, like a fog, which gradually engulfs a city. People do not trust each other. Friends, who work in the media, do not speak much to me on the phone. If they do, the moment I mention the word "emergency", they place the receiver down. I hear rumors about the arrest of persons who discuss the emergency, in trains or buses. In the restaurants, nobody discusses politics. If a table is isolated and empty, my media friends tell me how frustrated they are. (30‑8‑75).
In some states, it is impossible to get a license or a permit till you undergo sterilization. Anyone who wants a license for a gun, a ration card, or a sales tax registration number, has to either undergo sterilization or offer a candidate for the same, to the authorities. In some towns, beggars, lepers, etc. are willing to undergo sterilization, at prices ranging from Rs. 50/‑ (AED 5 app). to Rs. 200/‑. (AED (15‑9‑75).
In some districts, sterilization has become the elementary and plebeian form of punishment for all offences. If you tease a girl, if you pick‑pocket, if you break any civil rule ‑ the only punishment is sterilization. (15‑09‑75).
In an isolated corner of a restaurant in Bombay, two of my friends speak strongly in favor of the emergency. They do not realize the full implications. "There is nothing worth reading in Indian newspapers, in any case", they assert, "only the sports page is interesting". This is their justification of press censorship. My arguments and reasoning with them are futile. (10‑12‑75).
Judges are transferred. Laws are amended to protect some people. The 42nd amendment is pushed through. My fear is that if the mauling of laws continues, the judiciary will lose credibility. (30‑12‑75).
I visit Meerut in Uttar Pradesh. In a school, students aged 8‑9 years, are questioned by the teacher, whether their fathers have undergone sterilization. That night, a young nephew, aged 8, asks my cousin, "Papa, yeh nasbandhi kya hai"? Aap ne kar liya"? ("Dad, what is this sterilization? Have you been through it?") In a bazaar, some shops are to be dismantled. Each shop‑keeper is told that if he brings two candidates for sterilization, his shop would be spared. Beggars, servants, family barbers, etc. are offered incentives of Rs. 200/‑ upwards, to offer themselves as candidates. (15‑7‑76).
Bombay television shows a film of Sanjay Gandhi's rousing reception in Calcutta. He visits the city like a monarch and receives a conqueror's welcome. Flowers, music, "pujas", police outriders, motorcades, speeches to students, workers, businessmen. I do not sleep far into the night. For a number of days, I am disturbed. The speeches are meaningless and bankrupt. There is an absence of seriousness of endeavour. (05‑08‑76).
The smaller the town or village, the greater is the oppression. The more remote a town is from the main cities, the more the arrogance and the arbitrariness of local officials. In a town in Madhya Pradesh, an official uses the strangling powers of the emergency, to arrest a family with whom he had a personal feud. (18‑8‑76).
Another political bigwig visits Bombay. The city is flooded with family planning clinics at every street‑corner. They have sprung overnight like mushrooms. That VIP is given the impression that these clinics are a perpetual phenomenon. Inside one of the booths which I visited, young men and women sit, chatting. In the evening, the VIP speaks at Shivaji Park. He speaks slowly, without any vigor, conviction, anger, strength. The crowd does not respond to him. The clapping is restricted to the circles of chairs chose to the dais, consisting of invitees. He repeats the speeches he has been making all over the country. I stay till the end to watch the "show". The sum and substance of his speeches all over the country is, if you are not with me, you are against the country.
He says people who do not agree with the 20‑point and the 5‑point programmes should be removed, not merely from the Congress, but also from the country. The statement angers me. This country's is nobody's private property. Now, however, many people in power, look upon this country, as their inherited wealth. After the speech, I talk to some people to ascertain their reactions. Nobody wants to comment. A taxi‑driver says, "I do not know what he said". (06‑10‑76).
Many people support the emergency for its emphasis on discipline. Their concept of discipline is linear-trains running on schedule, students attending classes, bus and taxi drivers driving carefully, etc. We do not need a national emergency, banishing the freedom to speak, throttling the right to live as human beings, to enforce disciplines of an elementary nature. (15‑10‑76).
"Seminar" magazine, edited by Mr. Romesh Thapar, has stopped. So has "Opinion" of Mr. A. D. Gorwala. "Quest" has also shut down. The "Economic and Political Weekly", surprisingly, continues. Its "clippings" page reflects the bizarre happenings in the country. Between the lines, one can discern the pattern of coercion, falsehood and arbitrariness in the country. I do not read the newspapers. Every morning, I glance at the commercial page and then discard the paper. (2‑11‑76).
The figures announced by the radio, television and press about the trends in prices, production, economic growth are encouraging. But I do not believe them. There is no way to cross‑check them. The media has lost all credibility. I recollect "1984" by George Orwell, where the production of every product grows by leaps and bounds, but the population continues to wallow in poverty. (30‑12‑76).
At a friend's house, the discussion centers on people's priorities. He strongly feels that the common man wants bread and not freedom. I oppose him. I believe that in the long history of the world, human beings have always struggled and hungered for the right to live freely, even at the cost of food. There is absolutely no doubt in my mind, that in the ultimate analysis, every human being wants to live and work freely. (10‑1‑77).
As the election approaches, the nation starts breathing again. There is light in the eyes of people. People who had been defeated, whose souls were gradually being filled with iron, smile once more). (05‑02‑77).
There is, however, a fatalistic fear that the present leadership could get the levers of power again. I am concerned. I believe if they win again, it will be the absolute end of any hope, we have, of breathing freely. If they win, they will interpret it as public sanction and blessing, for their draconian conduct during the period of the emergency.
While traveling in a taxi in Delhi, I ask the driver, who is he going to vote for. He is very reticent and does not answer. I press him for a reply. Suddenly, he stops the car and starts sobbing like a child. I am unnerved. Between his sobs, he tells me, that his house in Delhi had been razed to the ground. He had lost the few belongings he had earned in previous 5 years. "My family has no house," he tells me. (25‑02‑77).
Wherever I travel, in Uttar Pradesh, Maharashtra, Delhi, Punjab, Haryana, and Madhya Pradesh, the persons I speak to, are very categorical about the party they will vote for. They relate tales of woe, of injustice, of wounds inflicted by arbitrary local powers. There is a sense of determination, this time. A shade of bitterness in the voice, and a hardness in the eye. (3‑3‑77)."
PRESS FREEDOM IN THE UAE: COMPLIMENTS TO THE PM
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Wednesday 26 September 2007 at 09:00 UAE time
Please refer to your front page report. Compliments to the Prime Minister of UAE for the mature decision that journalists will not be detained in the UAE. In the last 4 years, journalists have been detained, killed and targeted in many parts of the world.
The decision of the UAE Government and PM, is progressive and sensible, and will foster independent thought and wisdom.
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Wednesday 26 September 2007 at 09:00 UAE time
Please refer to your front page report. Compliments to the Prime Minister of UAE for the mature decision that journalists will not be detained in the UAE. In the last 4 years, journalists have been detained, killed and targeted in many parts of the world.
The decision of the UAE Government and PM, is progressive and sensible, and will foster independent thought and wisdom.
CRICKET INDIA: TEAM LEADERSHIP AND MORALE!!
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Wednesday 26 September 2007 at 09:00 UAE time
CRICKET INDIA: TEAM LEADERSHIP AND MORALE!!
India's scintillating performance in cricket, in becoming World Champions, in the Twenty20 series, highlights the key role of leadership and morale in winning.
A foreign coach who was more interested in establishing his hegemony by sacking captains and players, was the key problem. With him out, the team blossoms again!
And India does not even have any coach now!!
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Wednesday 26 September 2007 at 09:00 UAE time
CRICKET INDIA: TEAM LEADERSHIP AND MORALE!!
India's scintillating performance in cricket, in becoming World Champions, in the Twenty20 series, highlights the key role of leadership and morale in winning.
A foreign coach who was more interested in establishing his hegemony by sacking captains and players, was the key problem. With him out, the team blossoms again!
And India does not even have any coach now!!
MILITARY REGIME IN BURMA, MUST GO!!
Posted by Rajendra K. Aneja, Dubai, UAE on Tuesday 25 September 2007 at 13:00 UAE time
The military regime in Burma should hand over the government to the elected leaders. They cannot keep brutalising people with force. In the 1988 protests, 3000 citizens were killed. And for the past 11 years, Aung San Suu Kyi, a former elected leader and a Nobel prize winner has lived under house arrest, completely isolated, except for a maid, doctor's monthly visits and her jailers. She should be released immediately. Why is there no international or UN pressure on such military dictators?
Posted by Rajendra K. Aneja, Dubai, UAE on Tuesday 25 September 2007 at 13:00 UAE time
The military regime in Burma should hand over the government to the elected leaders. They cannot keep brutalising people with force. In the 1988 protests, 3000 citizens were killed. And for the past 11 years, Aung San Suu Kyi, a former elected leader and a Nobel prize winner has lived under house arrest, completely isolated, except for a maid, doctor's monthly visits and her jailers. She should be released immediately. Why is there no international or UN pressure on such military dictators?
MR. AZIM PREMJI AND THE WALL STREET JOURNAL
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Saturday 15 September 2007 at 04:00 UAE time
MR. AZIM PREMJI AND THE WALL STREET JOURNAL It was heartening to read about Mr. Premji’s rise to being one of the world’s wealthiest men, at 17bnn USD, but I was unhappy to note that an August journal like the Wall Street Journal carry the irritating headline: "How a Muslim Billionaire Thrives in Hindu India." The WSJ should know that India does not have a state religion, and is secular. Mr. Premji has rightfully, asserted that he has always seen himself as an Indian. It is unbecoming to attach a religious label to the entrepreneurial achievements of Mr. Premji. He employs people from varying religions, communities, nationalities in his company and all his charities are multi-cultural. It may interest the WSJ, that amongst professional circles in India, people see themselves as Indians, and not as Hindus, Muslims, Christians, Parsees. Mrs. Indira Gandhi, the daughter of the first Prime Minister of India Pandit Nehru, and later a Prime Minister herself, had married Mr. Feroz Gandhi, a Parsee. Ms. Nargis an accomplished actress, married Sunil Dutt, a Hindu actor. Many colleagues and friends of mine are married into varying religions, with each partner, practicing a faith of his/her own choice. In our global time and age, for us to base professional and love relations, based on pure religion, may not be very progressive. Mr. Premji’s rise from a young student, who had to abandon his studies in the USA when his father passed away suddenly, to one of the richest men in the world, should inspire youngsters across the world. He guided the destinies of his company from producing soaps, cooking fats, into a leading IT company. He is also a very fine human being; when a close friend of his passed away, he sought his old clothes to wear. Imagine, one of the richest men in the world, desirous of wearing the old sweaters etc., of his close friend; such was the value he attached to friendship. Professionals like Mr. Premji should be the role model for youngsters, rather than gun-toting terrorists. Mr. Premji message to the young is: the laptop will take you further in life, than a gun. If the youngsters in the Gulf, combined the oil wealth of the region with the entrepreneurship of Mr. Premji, we would have an economic utopia, and could banish poverty and disease from our planet. Sincerely Rajendra Aneja
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Saturday 15 September 2007 at 04:00 UAE time
MR. AZIM PREMJI AND THE WALL STREET JOURNAL It was heartening to read about Mr. Premji’s rise to being one of the world’s wealthiest men, at 17bnn USD, but I was unhappy to note that an August journal like the Wall Street Journal carry the irritating headline: "How a Muslim Billionaire Thrives in Hindu India." The WSJ should know that India does not have a state religion, and is secular. Mr. Premji has rightfully, asserted that he has always seen himself as an Indian. It is unbecoming to attach a religious label to the entrepreneurial achievements of Mr. Premji. He employs people from varying religions, communities, nationalities in his company and all his charities are multi-cultural. It may interest the WSJ, that amongst professional circles in India, people see themselves as Indians, and not as Hindus, Muslims, Christians, Parsees. Mrs. Indira Gandhi, the daughter of the first Prime Minister of India Pandit Nehru, and later a Prime Minister herself, had married Mr. Feroz Gandhi, a Parsee. Ms. Nargis an accomplished actress, married Sunil Dutt, a Hindu actor. Many colleagues and friends of mine are married into varying religions, with each partner, practicing a faith of his/her own choice. In our global time and age, for us to base professional and love relations, based on pure religion, may not be very progressive. Mr. Premji’s rise from a young student, who had to abandon his studies in the USA when his father passed away suddenly, to one of the richest men in the world, should inspire youngsters across the world. He guided the destinies of his company from producing soaps, cooking fats, into a leading IT company. He is also a very fine human being; when a close friend of his passed away, he sought his old clothes to wear. Imagine, one of the richest men in the world, desirous of wearing the old sweaters etc., of his close friend; such was the value he attached to friendship. Professionals like Mr. Premji should be the role model for youngsters, rather than gun-toting terrorists. Mr. Premji message to the young is: the laptop will take you further in life, than a gun. If the youngsters in the Gulf, combined the oil wealth of the region with the entrepreneurship of Mr. Premji, we would have an economic utopia, and could banish poverty and disease from our planet. Sincerely Rajendra Aneja
Can India become an superpower
Posted by shiraz merchant, dubai, uae on Tuesday 28 August 2007 at 15:00 UAE time
India is capable and can be a superpower, provided all the current politicians are replaced and the new concept is introduced. The management of the country should be handed over to the top business houses, set up the board of directors, established proper law and order and rune the management as any other company is operated. All this would sound funny and senseless, but this is the beat way forward.
Posted by shiraz merchant, dubai, uae on Tuesday 28 August 2007 at 15:00 UAE time
India is capable and can be a superpower, provided all the current politicians are replaced and the new concept is introduced. The management of the country should be handed over to the top business houses, set up the board of directors, established proper law and order and rune the management as any other company is operated. All this would sound funny and senseless, but this is the beat way forward.
Of course can
Posted by Alisha, Abu Dhabi, UAE on Monday 27 August 2007 at 18:00 UAE time
YES india can win a superpower status provided that curruption, and cast, tribals coflicts can be stopped. Best of Luck
Posted by Alisha, Abu Dhabi, UAE on Monday 27 August 2007 at 18:00 UAE time
YES india can win a superpower status provided that curruption, and cast, tribals coflicts can be stopped. Best of Luck
India will rock
Posted by Reshma Tahiliani, Dubai, India on Wednesday 22 August 2007 at 23:00 UAE time
Very insightful comments by Rajendra. We need to show our countrymen how they can build visionary leaders through leadership programmes. Also I think that our vibrant democracy is too vibrant at times, almost to a fault.
Posted by Reshma Tahiliani, Dubai, India on Wednesday 22 August 2007 at 23:00 UAE time
Very insightful comments by Rajendra. We need to show our countrymen how they can build visionary leaders through leadership programmes. Also I think that our vibrant democracy is too vibrant at times, almost to a fault.
Can India become the world's biggest economic superpower?
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Tuesday 21 August 2007 at 23:00 UAE time
NO, not in the next 25 year. In 972, 50 percent of India lived below the poverty line. Today, after 35 years, 30% of the population is still below the poverty line. It will take us another 20-30 years to raise the entire population to become middle class. This seems daunting, but is a reality. Then, India can commence its march, to becoming a global economic superpower. India’s strengths are: 1) A vibrant democracy. We have survived for 60 years with elected leaders. 2) Secularism, the biggest strength, despite occasional strife. 3) A massive population, manpower. We have a billion population i.e. 2 billions hands for any task! 4) Reasonably sturdy political institutions, like Parliament and Civil service. 5) Ambitious, earnest population, desperately hungry for success. India’s weaknesses are: 1) Absence of charismatic leaders; there are leaders who can manage adequately, but no visionaries who can fire the imagination. 2) Inadequate investment in research and technology. We did not discover the laptop, mobile telephone or space travel. Our technology is adequate. 3) Inequities in incomes and growth, which can sew discord. 4) Massive disguised unemployment, which prevents talented people from achieving their full potential. 5) Commitment and discipline can capitulate any nation to greatness. We lack these, across all segments. For India to be counted amongst the world’s top 5 economies like the USA, Japan, Germany, UK, France etc, the GDP of 691 Bn. USD, has to grow by 7 to 17 times in the next 15 - 20 years. Even China’s economy is 3 times of India. The level of infrastructure, and the absence of any advantages in raw materials e.g. petroleum, are also deterrents to massive strides. India should have more modest aspirations in the nest 20 years. Our goals should be 1) 100% population above poverty line, 2) 100% literacy, 3) A higher growth rate of 6.1 % pa, between 1994–2004, to 15 pa in the next 2 decades 4) Contain inflation at 3% pa for next 2 decades, and 5) Build leadership qualities at all levels in the country. These 5 goals, are a tall agenda. Then, India will rock!!
Posted by RAJENDRA K. ANEJA, Dubai, UAE on Tuesday 21 August 2007 at 23:00 UAE time
NO, not in the next 25 year. In 972, 50 percent of India lived below the poverty line. Today, after 35 years, 30% of the population is still below the poverty line. It will take us another 20-30 years to raise the entire population to become middle class. This seems daunting, but is a reality. Then, India can commence its march, to becoming a global economic superpower. India’s strengths are: 1) A vibrant democracy. We have survived for 60 years with elected leaders. 2) Secularism, the biggest strength, despite occasional strife. 3) A massive population, manpower. We have a billion population i.e. 2 billions hands for any task! 4) Reasonably sturdy political institutions, like Parliament and Civil service. 5) Ambitious, earnest population, desperately hungry for success. India’s weaknesses are: 1) Absence of charismatic leaders; there are leaders who can manage adequately, but no visionaries who can fire the imagination. 2) Inadequate investment in research and technology. We did not discover the laptop, mobile telephone or space travel. Our technology is adequate. 3) Inequities in incomes and growth, which can sew discord. 4) Massive disguised unemployment, which prevents talented people from achieving their full potential. 5) Commitment and discipline can capitulate any nation to greatness. We lack these, across all segments. For India to be counted amongst the world’s top 5 economies like the USA, Japan, Germany, UK, France etc, the GDP of 691 Bn. USD, has to grow by 7 to 17 times in the next 15 - 20 years. Even China’s economy is 3 times of India. The level of infrastructure, and the absence of any advantages in raw materials e.g. petroleum, are also deterrents to massive strides. India should have more modest aspirations in the nest 20 years. Our goals should be 1) 100% population above poverty line, 2) 100% literacy, 3) A higher growth rate of 6.1 % pa, between 1994–2004, to 15 pa in the next 2 decades 4) Contain inflation at 3% pa for next 2 decades, and 5) Build leadership qualities at all levels in the country. These 5 goals, are a tall agenda. Then, India will rock!!
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