Dear Sir,
New Delhi’s decision to impose 36.05% import duty on flat-screen TVs will have only minimum impact if it is intended as a measure to save the Indian rupee from plunging further against the dollar.
The introduction of duty on imported flat-screen TVs with effect from tomorrow will put an end to the relaxation enjoyed by non-resident Indians for more than a decade.
For the time being, Indian expatriates are allowed to bring home LCD,LED or Plasma TVs with them for personal use. Since it is not an essential commodity, expatriates may now stop buying it altogether. Since a lot of luxury items like electronic gadgets and watches are being allowed to take to India without paying duty, why are the flat-screen TVs being singled out?
The value of a currency is diminished due to an influx in current account deficit (CAD), which is the difference between the money that comes into the country by export of goods or services and money that goes out for imports. India’s foreign reserves are largely used for importing crude, gold and ores.
In the backdrop of various scams in the mining sector, various projects are put on hold and to overcome this, iron and coal, which are available in India, are being imported now, costing the country precious foreign exchange.
At the time of India’s independence in 1947, the rupee was almost on par with the British pound and the US dollar. The rupee rate has been plunging of late and it is even predicted to reach Rs70 for one dollar in the near future.
Many corrective steps need to be taken by the government to control the fiscal deficit and to boost GDP and strengthen economy but they are not being ignored. Instead, the government spends its time and energy in defending itself against charges of scams and scandals levelled against it by the opposition.
The government should show the willpower to take strong measures, including a blanket ban on import of gold, a non-essential item, to overcome the situation to some extent.
Mohamed Ashraf Madiyari
Victim of terrorism
Dear Sir,
There is a general perception that Pakistan is a safe haven for those who undertake terrorist acts across the world. Even if the whole world does not say so, countries like India and Afghanistan seem to believe that terrorism emanates from the religious seminaries of Pakistan and is spread to other parts of the world.
In fact, Pakistan is not a “terrorist” haven but a terrorised state which is paying a heavy price for its unstinted support to the US and incumbent Afghan government in the anti-terror war during the last one decade. It neither intervenes in the internal affairs of other states nor does it target any weaker power to capture its resources.
It has always tried to promote cordial relations based on the principles of mutual co-existence with its neighbouring states.
It bore the brunt of millions of Afghan refugees who fled from their country following the 1979 bloody revolution in Kabul. The fall-out of the subsequent civil war on Pakistan was huge. Result: Pakistan lost much and gained little.
The repercussions of the tragic 9/11 incident on the regional politics were far-reaching. But it was Pakistan which suffered most and is still suffering. Peace in the entire country is at stake and normal life is in the doldrums. Not a day passes when its security forces and civilians are not targeted by terror groups.
Despite all efforts by the Pakistan government, things are going from bad to worse.
Pakistan has never resorted to aggression nor has it used extremism or terrorism to create troubles and impediments for others, but certain world powers are vainly trying to terrorise and destabilise it for their own selfish ends and snatch peace and prosperity from this originally gallant and brave nation.
Guldar Ali Khan Wazir
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