Date:07/11/2005 URL: http://www.thehindubusinessline.com/bline/mentor/2005/11/07/stories/2005110701011000.htm

Back Volcker Committee findings

Responses to Sticklish Issues dated October 31

It came to light that some 130 Indian companies have paid kickbacks to the Iraq Government for the award of contracts worth approximately $425 million under the United Nations oil-for-food programme. The Volcker committee report has charged the Iraqi Government of levying a 10 per cent surcharge as after sales service payment. It would need a detailed investigation to ascertain committee's allegations.

V. Venkitasubramanian, Kochi, vvsmani2002@yahoo.co.in

One more dust storm from Iraq; but this one affecting persons and entities across the world.

S. Krithivasan, SBI, s.krithivasan@sbi.co.in

The Volcker committee was appointed by the UN to investigate allegations of corruption by the then Iraqi Government in the award of contracts in the oil-for-food programme. According to media reports the committee's report has named the Congress party and the External Affairs Minister, Mr Natwar Singh, as `beneficiaries'. Mr Singh has called the allegations `baseless and untrue'. And the Prime Minister, Dr Manmohan Singh, has said that the facts mentioned are insufficient to arrive at any adverse conclusion.

But the report cannot be brushed aside on the pretext that it as an attempt to malign the Congress and its top leaders as the committee does not have any interest in doing so. So the Congress party and the Government should come out with a convincing explanation in the matter.

A. Jacob Sahayam, Thiruvananthapuram, jacob_sahayam@yahoo.co.in

Appoint an enquiry commission. Develop non-conventional sources of energy.

T. V. Jayaprakash, Research Officer, CADA of Kerala, Thrissur

Although the Prime Minister has defended his Foreign Minister on being indicted by the Volcker Committee Report for profiting from Saddam Hussein's oil-for-food programme, Mr Natwar Singh is not out of the woods yet. The argument that facts mentioned in Table 3 of the Report are insufficient to arrive at an adverse conclusion against the Foreign Minister is supported by a report by the Russian news agency that alleges that many of the bills based on which kickbacks appear to have been distributed are false.

Further, the seriousness of the charges against the Congress party and the companies merit exploring legal means to challenge the veracity of the report. However, the UPA Government is on a sticky wicket.

T. S. Sundareswaran, Consultant, New Delhi