Saturday, December 7, 2013
Ms. Rice is correct in saying that the benefits which could have been harnessed from the civil nuclear agreement signed by both India and the USA have not been realized due to civil legal liability issue for which both nations are struggling to find a solution to this enigma. It is not a big deal. If both nations are serious enough, there is a solution to tackle this issue. This legal liability issue can be handled the same way Terrorism coverage is being handled in the United States. Private insurance industries in both countries along with the US government can share the risk of civil liability under this agreement. The risk can be shared on an excess or quota share basis between all these entities by accepting a proportionate share of the premium associated with this risk. It is true that like any other project, this agreement also has the potential of larger benefits linked with the potential of civil legal liability of nuke risk. But the risk associated with any project ought not to take a precedence on the over all benefits to be derived from any given project, so long as a proper protection, safety features and the financial ramifications are contemplated. Ms. Rice is also correct in saying that if the relationship between India, Pakistan and Afghanistan improves, it can be very conducive to the three economies. But that is a major "IF". Relationship among these three countries - especially between India and Pakistan as well as between Pakistan and Afghanistan can't be improved until the civilian government in Islamabad is in a position to eradicate the sentiment of terrorism from its territory, dismantle the training centers of militants, maintain law and order situation in Pakistan, get itself released from the clutches of Pakistani military/ISI nexus and start thinking out of the box that India is not an enemy of Pakistan. Prosperous Pakistan is a healthy news for India which will help all the neighboring countries to live in peace and enjoy prosperity. Resources being spent on the military in both counties can be earmarked for other civilian projects to make the region more prosperous. UNFORTUNATELY, THE BALL IS IN THE COURT OF PAKISTAN AND THE WHOLE WORLD IS WATCHING CURIOUSLY TO SEE THE OUTCOME ESPECIALLY WHEN THE NATO FORCES WALK OUT OF AFGHANISTAN.
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