FATHER OF NUCLEAR PROLIFERATION – A Q KHAN [THE MERCHANT OF MENACE]

On February 6^th, I read a news item that stated that, the supreme court of Pakistan has struck down all the charges against the father of Pakistan’s nuclear programme, A Q Khan and declared that, there after khan will remain a free citizen of Pakistan. This incident will have major implications in the present world scenario. 

In the year 1972, khan worked for URENCO, an Holland based uranium enrichment facility. When India conducted operation “smiling Buddha”, Pakistan was very desperate in having the minimum nuclear credibility. The Dutch authorities accuse that khan has stolen the blue prints of gas centrifuges and suddenly left Holland. When CIA assured that, it would track and monitor khan, Holland left the responsibility to US. Subsequently, Pakistan established a nuclear research facility at Kahuta. Later in 1998 Pakistan conducted its first nuclear test code named “Chagai-1”. 

It is generally alleged there was a Chinese hand of support in the development of Pakistan’s nuclear bomb. It is also alleged that Pakistan was trading nuclear secrets with North Korea for Ballistic missile technology. It is also alleged that Khan was frequently contacted by Al-Qaeda to build a radiological bomb and the crude nuclear bomb. IAEA reported Iran has built Uranium enrichment facility based on the blue print of URENCO. In 2004, Govt of Pakistan reported that khan has divulged nuclear secrets to Iran, Libya and North Korea. There after he was placed under house arrest. 

6^th February turned the events dramatic. With his release, it is a tough time for the IAEA to safeguard the Nuclear non-proliferation treaty. Atleast, what we could hope is that Khan’s nuclear knowledge should not fall in the hands of al-Qaeda or Hizbul-mujahideen. Let us hope for the best and plan for the worst.

THE BEST WAY TO ROB A BANK IS TO OWN ONE [ THE ANATOMY OF GREED ]

            Hardly a month before, the Satyam computer services chairman, the IT poster boy of Andhra Pradesh, RamalingaRaju has confessed that he has routed all the corporate governance norms and conducted the greatest Indian forgery of about Rs.7000 crores. Account balance fraud, inflated profits, non existent cash reserves & interests and understate liabilities took the toll to this huge amount. He is yet to be probed by SEBI on the cases of insider trading, unfair trade practices and frauds. But apart from this there are other aspects that prove that the chairman left no stones unturned.

            First, the promoters of this company who had the stake of about 25%, gradually decreased their stake to 5% over a period of 7 years. This proves that, the promoters already knew that the empire was falling, and they were conscious of securing their money, before its complete fall. The promoters sold over 4.5 crores of shares over a period of 7 years.

            Second, the promoters of this company had siphoned huge amount of satyam funds to the 2 companies namely, Maytas properties and Maytas infrastructure which were run by none other than the 2 sons of Ramalinga Raju.

            Third, in the era of post liberalization, the auditors who were to ensure that the accounts were monitored to the  best industry standards have miserably failed. Kudos to Raju, who has paid much more to the auditors of PriceWaterHouse, than they deserved.

            Fourth, though not confirmed, there are allegations that there were only 40,000 employees as against 53,000 employees. So, the salary money of the fake employees, of the tune of Rs.20 crores per month have found its way to the real estate ventures of RamalingaRaju. This explains how Raju managed to acquire 6800 acres of land when the government has imposed the cap of agricultural land per person [54 acres in case of dry agricultural land or 25 acres in case of wet agricultural land or 1000 square metres in cities].

            Fifth, there are even allegations that Raju would have committed money laundering by the way of funds from tax haven like Mauritius.

            Sixth, he used his influence and his political clout to make Hyderabad Metro Rail Corporation fall in the hands of Maytas Infrastructure run by his son.

            Raju has brilliantly proved that the best way to rob a bank is to own a bank. He constructed an empire from the scraps. He made the investors to pay for the empire. And finally, he robbed the empire.