Tuesday, September 4, 2012

Hostages on foreign land...

US Navy destroying a skiff
According to latest government data, 43 Indian Seafarers are still held as hostages in foreign lands - especially by Somali Pirates. The oldest continuing one started as back as March, 2010, six crews of a Panama flagged vessel - M.V Iceberg I. For full details see the table below,

Sl.No.
Name of the ship
Flag
No. of Indian crew held as hostages
Date when hijacked
1.
M.V. Iceberg I
Panama
6
29.03.2010
2.
Ex-M.T. Asphalt Venture
Panama
7
29.09.2010
3.
M.V. Albedo
Malaysia
2
26.11.2010
4.
M.V. Royal Grace
Panama
17
02.03.2012
5.
M.T. Smyrni
Liberian
11
10.05.2012
Total
43


Parts of Somalia are still lawless; in fact there is hardly anything called government services, even in capital Mogadishu. This should not stop our actions and negotiations to release the hostages. Many of them already spent more than two years as hostages...

Sajeev.

Photo courtesy: US Navy

Sunday, September 2, 2012

The curious case of bad banks; a case in point - Spain

Bankia HQ - Madrid

Assume that you are unable able to pay a big loan taken from a bank. What will happen to you? Most probably, the bank may take over and auction the assets pledged by you. Now, think what will happen, if a bank is in the same position?

Interestingly, one measure is to transfer the Non Performing Assets (NPA) to another entity, called Bad Bank. After transferring the assets to band bank, the original one can restart the process of lending!!!

According to economists there are many advantages in creating a bad bank;

1. The original entity can restart the process of lending.
2. A separate entity - bad banks - can concentrate on offloading or solving the bad loans.
3. Original bank can clean her balance sheets.

Well, Spain is also going to create a bad bank - 'Banko malo' - and transfer all toxic assets to it. For transferring the 'toxic' assets, banks will get cash, debt or shares.

Shares in the new bad bank is fine, after all it’s their toxic asset, but cash and debt? The value of bank loans at risk (toxic assets) in Spain is a whopping 156bn euros (around USD 196bn).

It may be a good idea economically, but ethically? Isn't it like, I am doing something wrong and asking somebody else to suffer the penalty? Which allows me to continue my way of living (may be with a loss of reputation). Isn't it the same thing happening here as well?

I hope that, along with Spanish government, bad bank will be able to make a profit in the long term.

Sajeev.

References


Photo courtesy - Wikipedia  (Author - Luis GarcĂ­a) - Later modified to suit this article

Child labour in India – the serious disconnect between laws and reality

Tyre Worker in Gambia

Recently Union Cabinet approved,

"a proposal for amending the Child Labour (Prohibition and Regulation) Act, 1986, to ban employment of children aged up to 14 in any form of industry. It will be an offence to employ such children not only in factories or industries but also in homes or on farms, if their labour is meant to serve any commercial interest."

According to Government of India (GOI)'s own data 46 lakh children can enjoy the befits.

"Cabinet also approved another amendment to define children aged 14-18 as “adolescents” and prohibit their employment in mines, explosives industries, chemical and paint industries and other hazardous establishments."

A good decision? Who will implement it?

It is indeed a good decision to introduce the amendments, after all its the duty of modern society to nurture their future generation and save them from exploitation; but who will ensure that these laws will be followed on the ground? We already have laws prohibiting smoking in public areas, prohibiting sex determination tests, prohibiting female foeticide, prohibition of dowry in marriage etc. Unfortunately, we can see people smoking in public areas, sex ratio going down unnaturally, dowry related torture and deaths etc. So in the case of child labour also there no guarantee that, it will be implemented in letter and spirit.

Young girl working at a loom in Morocco
The other problem related to the prohibition of child labour is more ironic. It’s not that, all Childs who are working in hazardous industries are loved to work there or the owners of such industries forced them to work there (even though it is true that they will like the idea of child labour as they don’t have pay the full wages and comparatively less demands). In many cases these kids may not have any alternative option. What a child can do if the breadwinner in his/her family is dead and there is no one else to earn? What a child can do if the breadwinner in his/her family is seriously ill and they are not able to afford the expenses for medicine as well as food? What a child can do if he/she doesn’t have any permanent home and moving from city to city, and parent’s earnings are not enough to support the younger kids in the family? The questions are endless.

Child care centres?

If you are suggesting something like government run child care centres in every district; I would like to remember you about, what was going in the government run centres for differently-abled people in Kolkata; tragic life of Vrindavan widows in government run ashrams etc. What more, nobody knows whether there will be any serious discussion on this issue in this session of parliament, which is engaged fully in Coal scandals. As CAG's office is not going to shut down today, by the time of next parliament session there will be some other scandals.

Vocational programs?

One another interesting suggestion people often come up with is, imparting technical and vocational skill to the child along with education. Even though it seems to be good option; I am yet to be convinced about its viability. Directionless imparting of something will not help anybody, other than putting administrators in good books. One of my friends joined such a program during his plus two years; even though he did well there, it proved to be little use for his later career. When I was in college, many friends joined some vocational programs; in none of the cases it helped them.

Recently, when I was in a village in northern Karnataka I met one person who served long in cooperative sector. One of the points he put forward, stuck with me for some time. He told 'here (he doesn't mean entire India, but about his district and nearby places) people often completes education, join college and complete their studies; without really thinking what exactly the industry demands'.  We are often doing something for the sake of doing it, instead of sitting back for some time, thinking about it and its consequences.

Child labour in Santiago
Conclusion

Now if government enforced this act using police – well, they will do a really wonderful job when they are motivated and permitted to do. If you have any doubt in the efficiency of police in executing the laws just read the newspapers for the first week after helmet become compulsory in Kerala for the first time - people may remove kids from their service out of fear (at least in the majors cities). But where these kids will go? Who will take them? Even if government is ready to bear the cost for his/her education, it doesn’t solve the problem. The question still remains, who will fill the gap of his income to the family? These are not the issues we can answer by sitting in an armchair and calculating numbers and churning out laws. These are really serious issues which required a well round discussion in and out of parliament...Anybody hearing?... Without any doubt child labour should end...

Sajeev.

PS : I was walked through the sides of a group of small tent houses in a major city in India. Around 5-8 families with some 8-10 kids were there with bare essentials to survive. I saw them there for next one month and then disappeared. Will this law help those kids?

Photo Courtesy: Wikipedia

Saturday, September 1, 2012

A little oil and a lot of ego – When will our crude import bill drops? The sorry state of India’s Oil and Gas exploration sector


What a country, which depends extremely on foreign sources for her energy needs, will do first? Common sense says that, she will try to come out of the shackles of dependency and try to stand on her own. Situation is not so different for India, who imports 80% of required oil. However the irony is that, we not showing much urgency in developing what so little natural crude/oil deposits we may have.

If you have any more doubts read this report (related to Indian oil minister’s written response in Parliament) on Reuters,

"...Energy firms that have invested more than $12 billion have been hit by delays on required approvals for 52 exploration blocks, some awarded as far back as 1999..."

"Approvals have been delayed due to defence, environment and maritime boundary issues...Of the blocks awaiting approvals, 22 belong to Oil and Natural Gas Corp., 15 to Reliance Industries, five to BHP Billiton, three to Cairn Energy India and two to Australia's Santos Ltd. British firms BG Group, BP and Italy's ENI own one each...."

We don't have any abundance of oil and gas deposits and importing 80% of our oil needs costing our exchequer billions of dollars every year.

If we are allowing this much unreasonable delays in permitting exploration, then I don’t think companies will be interested in investing huge amounts (oil and gas exploration is a very costly affair) in future. After all why should they waste their money? Earlier the government realise this fact the better...

Sajeev.

References


Related Articles 


Photo Courtesy: Wikipedia (Author - Frank van Mierlo)

Ode to Joy and Beethovan' 9th Symphony

'Ludwig van Beethoven' is one of the most famous music composors of all time. His final complete symphony, Symphony No. 9 in D minor Op. 125, is considered as one of the greatest musical work of all time. The words sung during the final movement were taken from Friedrich Schiller's 'Ode to joy' (German: 'Ode an die Freude', written in 1785) with additions from Beethovan. This was adapted for European Anthem (in 1972 by Council of Europe, and in 1985 as official anthem of EU [without words]).

Please see the lyrics both in German (original) and in English.

"Ode an die Freude" - German original

O Freunde, nicht diese Töne!
Sondern laĂźt uns angenehmere anstimmen,
und freudenvollere.
Freude! (men's chorus: Freude! )
Freude! (chorus again: Freude! )

Freude, schöner Götterfunken
Tochter aus Elysium,
Wir betreten feuertrunken,
Himmlische, dein Heiligtum!
Deine Zauber binden wieder
Was die Mode streng geteilt;
Alle Menschen werden BrĂĽder,
Wo dein sanfter FlĂĽgel weilt.

Wem der groĂźe Wurf gelungen,
Eines Freundes Freund zu sein;
Wer ein holdes Weib errungen,
Mische seinen Jubel ein!
Ja, wer auch nur eine Seele
Sein nennt auf dem Erdenrund!
Und wer's nie gekonnt, der stehle
Weinend sich aus diesem Bund!

Freude trinken alle Wesen
An den BrĂĽsten der Natur;
Alle Guten, alle Bösen
Folgen ihrer Rosenspur.
KĂĽsse gab sie uns und Reben,
Einen Freund, geprĂĽft im Tod;
Wollust ward dem Wurm gegeben,
Und der Cherub steht vor Gott.
Vor Gott!

Froh, wie seine Sonnen fliegen
Durch des Himmels prächt'gen Plan,
Laufet, BrĂĽder, eure Bahn,
Freudig, wie ein Held zum Siegen.

Seid umschlungen, Millionen!
Diesen KuĂź der ganzen Welt!

BrĂĽder, ĂĽber'm Sternenzelt
Muss ein lieber Vater wohnen.

Ihr stĂĽrzt nieder, Millionen?
Ahnest du den Schöpfer, Welt?
Such' ihn ĂĽber'm Sternenzelt!
Ăśber Sternen muss er wohnen.

Ode to Joy (English)

Oh friends, not these tones!
Rather, let us raise our voices in more pleasing
And more joyful sounds!
Joy! (Joy!)
Joy! (Joy!)

Joy, beautiful spark of the gods*
Daughter of Elysium,
We enter, drunk with fire,
Heavenly one, your sanctuary!
Your magic reunites
What custom strictly divided.
All men become brothers,
Where your gentle wing rests.

Whoever has had the great fortune
To be a friend's friend,
Whoever has won a devoted wife,
Join in our jubilation!
Indeed, whoever can call even one soul
His own on this earth!
And whoever was never able to, must creep
Tearfully away from this band!

Joy all creatures drink
At the breasts of nature;
All good, all bad
Follow her trail of roses.
Kisses she gave us, and wine,
A friend, proved to the end;
Pleasure was given to the worm,
And the cherub stands before God.
Before God!

Glad, as His suns fly
Through the Heaven's glorious design,
Run, brothers, your path,
Joyful, as a hero to victory.

Be embraced, millions!
This kiss for the whole world!

Brothers, above the starry canopy
Must a loving Father dwell.

Do you bow down, millions?
Do you sense the Creator, world?
Seek Him beyond the starry canopy!
Beyond the stars must He dwell.

YouTube video for 9th Symphony




References

1. European Union  - Anthem
2. Wikipedia (please note that the lyrics are copied from Wikipedia)