Nod to Posco - Wrong Signal
EVER since Vedanta was denied permission and Posco's withheld, it had become obvious that sooner or later Clarence will be given to Posco. This despite all factors--violation of Forest Rights Act, N. C. Saxena Committee report, resistance from the local tribals, connivance of Odisha government with Posco in fabricating facts etc rtc--going against.
POSCO'S steel plant at Jagatsinghpur, a power plant and a captive port has been hailed as the biggest single investment by a foreign company and according to the government, denying permission to Posco would have sent a wrong signal to foreign investors interested in ventures in India. While Vedanta's was the project by an Indian-origin Mittal and could be treated shabbily, Posco's case was 'handle with care', more so because India has to look cosy to out eastern neighbour, South Korea in line with its 'look east policy'.
UPA government has been advocating development but not at the cost of environment and forest-dwellers but permission to Posco is a clear violation of its on policy. Jairam Ramesh has been honest in handling his ministry of Environment and Forest but armtwisting by other ministeries, with support of PM has resulted in this approval with certain riders. These riders, including relief package from Odisha government as also contribution fromm Posco, just 2% of its profits.
WE know, from our experience of other MNCs, including Union Carbide, how these float rules to fill their coffers and therefore, we have no reason to believe that Posco will be more honest. Incidentally, the day permission was granted to Posco, the same day Jan-sunvai exposed the claims of central government, state government as well as Posco about purchased of land from the local as well as their rehabilitation.
THE Posco now has become a yard-stick and all future investors will claim forest clearance on its basis.
POSCO'S steel plant at Jagatsinghpur, a power plant and a captive port has been hailed as the biggest single investment by a foreign company and according to the government, denying permission to Posco would have sent a wrong signal to foreign investors interested in ventures in India. While Vedanta's was the project by an Indian-origin Mittal and could be treated shabbily, Posco's case was 'handle with care', more so because India has to look cosy to out eastern neighbour, South Korea in line with its 'look east policy'.
UPA government has been advocating development but not at the cost of environment and forest-dwellers but permission to Posco is a clear violation of its on policy. Jairam Ramesh has been honest in handling his ministry of Environment and Forest but armtwisting by other ministeries, with support of PM has resulted in this approval with certain riders. These riders, including relief package from Odisha government as also contribution fromm Posco, just 2% of its profits.
WE know, from our experience of other MNCs, including Union Carbide, how these float rules to fill their coffers and therefore, we have no reason to believe that Posco will be more honest. Incidentally, the day permission was granted to Posco, the same day Jan-sunvai exposed the claims of central government, state government as well as Posco about purchased of land from the local as well as their rehabilitation.
THE Posco now has become a yard-stick and all future investors will claim forest clearance on its basis.
Comments
Post a Comment