Stock Market: Saving Me from Me

 This first appeared in the Heraldo dated 24 Feb 2023

This sounds a lot like the famous Swami Nityaanand, please save me from me who makes risky investments so me can get rich but me does not like it when the investments bombs and me loses money. The Supreme Court has also got into the act and asked the Government what it can do to protect the investor from himself.

 

There are two parts to any investment: individual, ME/investor and Government/ Regulator, that is agencies tasked to ensure that the markets are regulated, trades are free and fair.

 

INDIVIDUAL

First we must understand that the Share market is like a game of teen Patti. There is no creation on wealth, be sure, if someone wins Rs 100, others have lost Rs 100/-. Technically, called two person zero sum game.

 

Using the Adani fiasco as a background, we can analyse what each can do and if protection for individuals from a downside is possible. The prices of companies linked to Adani have jumped in value over the last two years, there was no explanation for this jump other than so called market forces, ie lot of money chasing few shares, few shares because close to 75% of the stock is owned by Adanis. The rest 25% is available but even there large bank and LIC held a big chunk.

 

An investor who studies the company, its progress, its future profitability would not put money down for what is technically a speculative buy, nothing wrong in betting a share will rise sharply and one can make a killing by buying low and selling high. However, what we learned once again is that what goes up can come down and even those who felt they brought low would have got burned when the price hit new lows.

 

Remember all this is happening and there is not an iota of difference to the actual performance of the company. Usually dividend paying companies are sort after especially for those retired, but here dividend was paid from borrowing. All red flags ignored by retail investors. They were going in for a share offering at a fancy premium. Retail investors who prefer to let others do their homework piggy backed on the fact that SBI or LIC were buying, when the prices kept falling, the market was assured that they would pick up their committed shares on the last day. A few highly qualified fund managers in HNI (High Net worth Individual) family offices also did the unthinkable, they applied for shares in the offering when in the open market they were available for a handsome discount. It is another matter that the issue was canceled.

 

What it shows us is that “ME” must do “MY” own homework, there are no free lunches. If you have money which if lost will not effect your lifestyle, go ahead and chase risky investments, but avoid a situation where your life saving is involved and  if the investment tanks, you are financially wiped out. We saw at the time of the crash due to the Harshad Mehta effect, many committed suicide as they lost everything when the market tanked.

 

As it stands, the only person who can save “ME” from financial losses is “ME”, by studying the fundamentals and investing in companies with a track record of performance. If you wish keep a small percentage, say 10% of your portfolio for speculative or risky investments. The Supreme Court cannot help “ME”

   

REGULATORY AGENCIES

The  focus now shifts to the regulatory agencies, SEBI (Securities and Exchange Board of India).  Did they do their job? It appears not. When the share price was rising, why did they not look into it, it was clear that the rise was not due to fundamentals. It was as everyone in the market knew, but Hindenburg said it, round tripping. Basically, a host of entities act together to give the impression that there is a lot of activity in a share and thus pushing the price up day after day. Did the Adani’s own more than 75%, through shell companies? This reduces the float and pushes prices up. The retail investor lost, and as is usually the case, it is the small guy who was left with the mess.

 

The biggest advantage for Adani with the surge was they were able to get more funds by pledging their share. All of a sudden they produced 1.1 bilion USD to pare their debt, from where? If they had these funds why were they raising money?

 

So who are  these companies that were pushing the price up, supposedly shell companies based in tax havens, why are they not being investigated? Where did they get their funds from? Forbes has just released a report, following up on Hindenberg. It is the job of local agencies.

 

It is all very well to hide behind the nationalistic fig leaf, Hindenberg is attacking India, well they wrote not so flattering reports on Chinese and American companies too, they are no doubt an investor who finds chinks in a company’s amour and then makes holes so as to make money. They are a messenger, point that regulators need to address is why did they not see the chinks or loophole earlier.

 

In the US or Singapore, the market is regulated, yes there are cases of mismanagement, insider trading etc. Once exposed or brought to light the regulator takes action and perpetrators see the inside of jail, very quickly, no matter who or how mighty they are. In India, we are yet to see this kind or quick reaction and this people are encouraged to try and beat the system as there is no fear of punishment.

 

This is what the Supreme Court should look at and plug the hopes in the regulatory framework so that the confidence in the market reaches a high level and “ME” can invest without fear of being scammed. 

The New Industrial Policy: Goa

This first appeared in the Heraldo dated 24 Jun 2022

 

The Government of Goa, has announced a new industrial policy. When compared to the previous policies on first reading it appears to be comprehensive and addresses all the pain points of industry, especially for those who wish to start enterprise in Goa.

 

It could be the first time Human Capital, Reliable Power, Water, Internet and Waste management are highlighted and part of one policy document in an integrated manner.

 

The way to hell they say is paved with good intentions, so we will have to wait for the final policy directions. This policy has many interconnections with other departments. For eg: land use comes under the regional plan and that is the domain of the TCP department. In the past, decisions by the Industrial Promotion Board (IPB) which will now become a very important part of implementation of the single window system (SWS)  were not accepted by power department. Therefore when the details are out, these links will have to be closed by notifications making the decisions binding on other departments.

 

One aspect that stands out is the fact that the Government has realised that it is the front line that needs to be trained to change their attitude to business and businessmen. While the Centre and State have been pushing reforms and wanting the environment to be investor friendly. It finally comes down to the dealing hand who handles the applications and who does not bother and thinks nothing of asking the investor to come tomorrow. We all know that tomorrow never comes but the front end employee loses nothing and gets his salary anyway at the end of the month. Training will help the employee understand the importance of revenue and job generation through investment and more importantly he will drive the Governments vision expressed very well in this document.

 

The vision is to build trust and collaboration, infuse transparency and predictability to achieve the all important goal of prosperity and SABKA VIKAS. These are very encouraging words and signals a shift in thinking at the policy level. This vision statement itself marks a departure from the normal, and now looks at every investor as a partner with Government.  “Sabka Vikas”, can only be achieved by revenue generation, and business is the main revenue generator, This revenue can power all the social empowerment schemes like free water or electricity.

 

The policy also makes GIDC the sole authority for handling allocation of land. This is as it should be, when IPB was also allotting 40% of available land there was a tussle between the organisations. On one occasion a piece of land was reduced from 3000 sqm to 2999 sqm after the first advertisement was released by GIDC because they realised 3000sqm comes under the purview of IPB to allot.

 

Allotting a plot, only after advertising is a good way to increase transparency. Manufacturing or MSME is not a focus area, proposals related to them have been floated. One, revival of sick and closed units.  The situation is complex, many of the closed units have dues with ESIC/PF/PWD and Electricity Dept. Often deals to transfer fall through because the “No Dues” certificate takes time or is disputed.  The plot then continues to be unused, a big loss to the exchequer. Hence finding a solution to the departments dues is imperative and must be time bound.

 

The Government has promised to incentivise an “Anchor” unit to invest once policy is finalised.  Industry organizations can leverage their connections, GSIA organised a meeting with the TATA group and CII also has such connections. Once an Anchor unit is identified, smaller plots must be made around it to facilitate ancillary MSME units.

 

On the lines of Micro Industrial Units, can GIDC be tasked with using a plot to create “plug and play” spaces (Galas in popular parlance), small spaces like you have in many parts of Mumbai, where entrepreneurs immediately, start operations without having to get a plot, build etc.  Welding, machine shop, electrical repairs etc are some examples of what can be started locally and in a  small area.

 

Revival of self governance of industrial estates, is a welcome step.  GIDC rules mandate a satisfaction certificate from the Estate Association which is bypassed at present. If implemented well it can ensure proper use of funds and quality control. Stakeholders cannot complain, having approved the work.

 

While subsidies have been out of style for a while, close on the heels of the central Production Linked Incentive (PLI) Scheme, Goa is now launching its own. This is linked to increasing capital cost or adding employees, both difficult to ascertain and not necessarily contributing to increased revenue. It would be simpler to give an incentive based on increased GST contribution, year on year. If your GST contribution increases above say a base threshold of 15% annually, the business would be entitled to a 2-5% of all incremental contributions. Very easy to track and will be fair and transparent too.

 

The last but not the least is Ease of Doing Business. The policy promises to make “Single Window System” concept a reality.  The thrust will be more online applications, a common form which will be used by all departments, rather than one form for each. The best is enforcement of time lines, will it be deeming clauses? We have to wait and watch. There is work to be done.

 

Well begun is half done. The Government has indicated the direction and the intent, we do hope they will be able  to cross the hurdles and covert the draft into a workable policy that will ensure SABKA VIKAS.  

  

Taxis On The Boil Again

This first appeared in the Heraldo dated 22 July 2022

The recent assembly session was pretty interesting. The opposition put up a brilliant performance even while some of them were planning to shift to the treasury benches.

 

The ruling party, by brute majority ensured the session was curtailed to a fraction of its original schedule.  It can be really hard for those committed to spending five years in the opposition, knowing that their co-batsmen are actually batting for the ruling party.

 

The powers that be found nothing wrong in curtailing it even further to accommodate the unscheduled visit of the Presidential candidate, surely this could have been held in the evening. Who cares, MLA’s get their salary irrespective of performance or attendance, so often they are not even physically present.

 

There were many topics raised and many brushed under the carpet. The hot topic was the conversion of land which has been reverted to its original status, it mainly effected the LOO.  But, the older complaint against the illegal structure in Old Goa was brushed under the carpet. The rising price of alcohol found a mention but not the rising LPG or food prices. Strange, no?  The taxi issue too was brought to boil, but the boiling three linear projects was left to cool, simply because the Government believed that it is a Central government project. A case of one engine not knowing what the other engine is doing. Should not  “double engine sakar” means each engine knows what other is doing so that they pull in same direction?  

 

What has made the taxicars blood boil is the admission on the floor of the house that they are fleecing the customers and not using the meters given free by the Government. The solution now lies in bring APP based taxis into the picture to set the situation right, like leaving a cat among the pigeons and hoping for a good ending.

 

The APP based taxi model is not a cure all, it is simply a method of putting an available taxi in touch with a customer wanting a ride. Goamiles was an one such operator. During elections, to calm the nerves of the taxicars, Goamiles was forced to go slow, attacks on their drivers intensified and the fact that they do not have meters was brought up. APP based taxis have digital meters. They also calculate the fare based on type of vehicle viz, hatchback, sedan or SUV. They also check facilities wanted viz: AC, wifi, entertainment. The best part of the fare calculation which is user friendly is the fare starts when you are picked up and ends with the drop. A recent ride from airport to Verna I.E. proved to be 45 % cheaper than a black and yellow, the car was clean and driver was a local.

 

In a press conference the Taxicars tried to appeal to the emotions of the goan public by playing the local card. They mentioned that the Transport Department is at fault for the impression created that taxicars are fleecing, they said that the Department has given rates based on Diesel and Petrol and not on capacity. They said they were willing to use meters but the hotel travel desk sets the rate and pays them later. This is not telling the whole truth.

 

Taxi kilometer rates are fixed based on size of vehicle and not on fuel type, many taxis have CNG but accept the same rate to their benefit and why not? Soon electric will be available too. The hotel cannot force their guests to eat in any of their restaurants, so how can the hotel travel desk force the guest to use a taxi parked outside the hotel. Hotels cannot make taxi bills it will attract GST and make the ride even more expensive. What the taxicars did not mention was the fact that if a coach has to enter a hotel to pick guests, the coach owner or the guest has to pay a “non usage of taxi tax” to the union. Now if there is a big group, why would they use ten taxis, surely one bus can be ideal and sufficient.  A customer must have freedom of choice. The union insisted that if OLA/UBER come into play, outsiders will take over the business, please take a taxi from the airport, most drivers are outsiders while owners are goans. So who is introducing outsiders to the business?

 

The taxicars challenged the CM  to compare bank balances, while they have a point politicians income grows leaps and bounds every year when in power, it does not mean taxicars should be also given a license to loot.  

 

At the end of the day, the Government will have to take a call and reset the mess, taxicars cannot demand a right to be part of the decision, how can competitors decide who will compete?  Currently there are three types of taxis, 1) tourist, who have max issues as they feel they own the hotel business 2) black and yellow which operate from airports and train stations and have no other business focus, and 3) rent- a-cab, which has quietly taken over the business earlier enjoyed exclusively by the tourist/black cab, by being customer focused. All these distinctions have to go, there should be taxis available for hire, the owner can choose if he wishes to list on an APP or if he wants he can run a high end personalised service for his customers.

 

The customer be it a local or a tourist, will choose what he wants, that is a right no one can take away. That is a right the Government must hand back to the travelling public in Goa. That is a right whose time has come. VIVA GOA. VIVA COMMONSENSE.

 

 

 

 

 

 

 

Time To Think and Vote Wisely

This first appeared in the Heraldo dated 24 Dec 2021

 

What a leadership mess, we still have a few days before this round of musical chairs stops. Once the elections are announced and till the last day for withdrawal one can expect our absolutely shameless politicians to change parties and positions like one changes a dirty shirt.

 

The reason given by each and every politician, it is for development that they are switching sides. Whose, is left to your imagination. What is the meaning of development and what are the associated metrics? Every birthday advertisement glorifying the birthday MLA will list these as their achievements, viz: providing pavers or lighting to a religious structure, inaugurating a transformer or latest is signals at any and every place, laying a foundation stones which years later will be just that, a foundation stone, a stark reminder that the electorate are fools.

 

Have you seen even a single politician measure his development with facts and figures. Are they elected to only take care of their vote bank, or to ensure the development of the State as a whole?  Should not all MLA’s elected be concerned about universal access of every goan, to tap water, electricity, roads and a toilet? The focus is on Rabindra Bhavan’s rather than strengthening primary health centers. If that was done, we would not have so many deaths due to COVID 19. How many jobs were created by attracting private investment? Not Government jobs which can be sold.

 

What you actually see, be it three linear projects, setting up an IIT or transporting coal, there is no discussion by the entire constituent assembly, it is left to the local MLA to handle his area, and if he is a Minister he considers the ministry his fiefdom. Does coal transportation only effect Marmagoa and villages that the railway line passes through? Or does it also effect the environment and Goa’s major industry, tourism. To elaborate, coal handling will effect the cruise terminal, these tourists go to the hinterland to enjoy the spice farms or beaches or buy local produce. If, because of coal dust cruise vessels stop, then the entire State will lose, so it is the responsibility of each and every MLA to participate. In reality this does not happen, and that is the bane of our State Assembly.

 

The logic that one has to be a part of the ruling party otherwise the MLA’s constituency will suffer, more so if he belongs to an opposition party has to be questioned. Why should this be the case, take roads, we have an entire PWD who today works at the behest of the PWD Minister. So he decides  which road to hotmix or where to make a new road, should it not be the Executive Engineers who should take a call based on age of road, current conditions etc.

 

A Company applies to build a new factory building so that they can expand, the building is designed by professionals who follow all the rules set out in the model building code, the State needs new investment to create jobs, yet the file will sit in the TCP Minister’s cabin with no explanation whatsoever and no one has the responsibility to answer, net result the projects go to other States. One ministers meat is the States poison.

 

MLAs and the Constituent Assembly make plans or laws that will guide the State to prosperity. Once the plan is passed or Law enacted it is for the bureaucracy and Judiciary to ensure it is followed. MLA’s have no further role to play, yet no one asks why files go to the Minister and why they are held up, because Ministers do not sign, the bureaucrats do. This power without accountability has to be questioned for the good of the State. The fact that the simplest of rules, no red beacon and sirens to be used by Ministers is violated in broad daylight on traffic jammed roads, indicates a complete disregard for rules and norms at any level. The operating logic, once elected, The MLA turns into a law onto himself, forget about elected to serve the people.  

 

Party hopping is today a fad.  The bigger picture is that every party has a culture and an ideology. The basic ideology could be secularism, focus on lost culture and glory, anti corruption etc. Earlier it was capitalism or socialism. Whatever the ideology, it is a means to ensuring the State and Country prosper. No party is anti-development. So, whatever the party, development is built around the core ideology.

 

So how does the party hopper switch his ideology overnight? How does one become a disciplined member of a cadre based party without going through the foundation courses, which involves time and commitment, how does a voter see his party suddenly accept a corrupt person, given the anti corruption stand, what happens to those supporters who suddenly find themselves hugging their arch rivals, who till the previous day was bad mouthing then and their party non stop? What happens  to committed aspiring second line leaders, when a party imports the rival into their camp?

 

Then there is this crazy idea, “I consulted my supporters and took a decision to switch”. Supporters do not elect you, voters do and all voters may not be supporters and all supporters may not be voters. Those who go back to the electorate and get elected on the new party ticket cannot be faulted, the VOTER decided.

 

The option to  strengthen the anti defection laws seems like a good bet but less likely to happen as the ones making the law are the ones abusing it. This leaves the hapless voter with only one weapon to make a change,  “Your vote: use it wisely, make it count.” Merry Christmas and a Happy New Year 2022.

Public Funds Down The Drain

This first appeared in the Heraldo dated Jun 2021

 

The recent fiasco at Orlim, where a protection wall is in shambles because of many reasons. Design, given that is built in the fields and the area would be prone to water logging. Quality of work, one end which does not appear to be damaged, does not inspire confidence. Possibly it would have got covered with the tiles. Responsibility, is anyone responsible? Is it only the contractor/consultant, are these projects where public money is spent not supervised by the Government agency tasked with getting the job done.

 

It is the GSIDC, who clarified that a consultant has been appointed and the problem is either adequate weep holes designed were not provided or blocked. At this stage issuing a clarification and not knowing the exact status, i.e. were weep holes provided as per design? Yes or No. If they got blocked in the first rain they were not adequately designed for sure.

 

The local MLA was quick to say that the contractor will be made to repair the wall at his cost. Small consolation, since the contractor is not blacklisted, he will be compensated subsequently. What about the consultant, if the weep holes were inadequate or not provided, who inspected and approved. Inspectors may turn a blind eye but nature is unforgiving.

 

Look at the new highway under construction across Goa. The fact that a section of the Atal Sethu bridge has multiple problems within a year of commissioning, speaks volumes of the quality. Wonder what will be in store as the years go by. The bridge was closed from one side and repaired or rather band-aid applied. This too has failed. The contractor in this case is one of India’s leading construction companies. The road surface on the bridge has developed potholes and the second rains has just begun, what does one expect after a few years, who will be responsible for its maintenance if at the start it needs so much rework.

 

Unfortunately, we have got used to this shoddy work and substandard materials. It is normal and expected. We build drains where the sides collapse and the cement concrete covers turn to powder leaving gaping holes, ugly and dangerous iron bars protruding, endangering life and limb. Take the contract, execute and forget it, how did it get approved in the inspection, are concrete samples taken and tested. Are reports made?

 

Recently, the Government invested heavily on ventilators, we were assured that they cost more because they are better than the ones supplied under PM Cares Fund. However the reality is different. They do not work, they are to be kept on and are noisy, or else the battery dies. Where is the quality check? Who is monitoring these machines and if they are not as per specification, why are they not replaced by the manufacturer? Is there a system where actual users can feedback their grievances so that the decision makers can take cognizance and act against errant suppliers? The Health Minister correctly asked for a judicial review but this has been not vetoed by the Government in court.

 

On the beaches of South Goa, dust bins have been installed, they have the embossed logo of some random institution, “KCIC”. Why? Is it that the supplier had excess bins or they were rejected by that customer and now sold to GWMC? Who signed the inspection note for these bins. If they were donated then, it is ok, if the government paid for them, then it is a question of public money. Was this part of the deal, wrong logo so price discounted, not possible in a tender system as the option will not exist.

 

Why is it that we the citizens have absolutely no redressal when it comes to wastage of public funds. Why is it that we have to accept shoddy work which endangers our life and limb and have no way to bring it to the notice of the authorities who are actually supposed to know in the first place. Actually they are not just supposed to know, they are supposed to ensure that the work done or material supplied is perfect.

 

What are the solutions to improve this pathetic State of affairs. One, the Government can put the specifications that are ordered online so everyone knows what is to be delivered. Two, the inspections reports which are approved by the inspectors should be also put up online against the specifications. This way citizens will know what was ordered and what was delivered. The transparency will help to ensure proper delivery of service. Importantly, while the work is being executed, people can observe and notify the authorities if there is something amiss. QR codes can be posted at the work site which will give direct access to person responsible for that work. Technology can be leveraged.

 

Three, put the name and contact no of the person signing the order, who can be informed if the service or goods are not performing up to the mark. In the case of ventilators, the patients relative could have complained, because the medical staff on duty may be scared to do so, and hence it will go unnoticed. In the case of a drain cover crumbling, the concerned official may be sitting in the HQ at Panaji and the drain would have collapsed in Davorlim.

 

The Government will do well to review this ordering and execution for public projects so that it ensures public money is not sent down the drain anymore.

Sports Associations for Whose Benefit?

This first appeared in the Heraldo dated 26 Nov 2021

In 1992 as India prepared for the Barcelona Olympics, my neighbour, Edgar Mascarenhas, a sure shot failed to make it for the men’s hockey team.  The team that was to come back with a medal, fared badly. Later, the press interviewed Edgar and he spoke his mind, the team carried injuries and thus failed. The bosses of Indian Hockey Federation did not take kindly to the interview which was published in prominent dailies. They decided to ban him for life from playing hockey. Fortunately for him, his team Air India decided to back him. He approached the Mumbai High Court and the ban was unconditionally lifted. Edgar could play hockey, his passion, but he never played for India again. India lost a good player forever. The officials continued as if nothing happened.

 

Thirty years later, nothing seems to have changed as far as Sports Administration is concerned.

 

Cycling has picked up in a big way across the country and in Goa too, thanks to the pandemic. The rot in the Cycling Association of Goa (CAG) highlights the issues prevalent across Sports Associations.

 

Pradyum Naik, a young off-roader, travelled from Margao to Mapusa twice to make his licence so he could participate in the nationals at Gadag. First time, there was no one in the office of CAG. He managed on the second trip. When he reached Gadag, there was no entry sent. Thanks to the good offices of his cycling Club, Xaxti Riders and an official of the Cycling Federation of India (CFI), he managed to participate as a member of another States team, he also had to make his licence again paying a higher amount as a spot fee. Business as usual in CAG.

 

In Sept 21, the CFI announced the cycling Nationals at Kurukshetra. The CAG, slept despite prodding from various cycling clubs across Goa to hold the trails and select the team. Finally, they had the trials early November. They slept again and sent the team details to CFI two days before the deadline of 15^th November. Dr Blanche Themudo, who had topped the trials in the women’s elite category and an automatic entry found herself in the cold. With no explanation forthcoming, she supported by her team Equipe Goa, she approached the High Court.

This move would have caught the men at the wheel of CAG off guard. They are not used to sports people approaching the court so fast against blatantly unjust decisions. The CAG in its defence produced an email from CFI, stating that there was an age limit and thus the entry was not sent. This defence would have worked in the confines of the CAG office, but in court the question was to show the underlying rule that supported such an email, there was none. The HC ordered the CAG to send Dr. Blanche’s entry on merit and also asked the CFI to accept the entry even if there was a delay. This was important, otherwise the CAG would have blocked the entry of grounds that it was past the deadline.  

 

Well-wishers, supporters and club officials approached various powers that be to try impress upon them to ask the CAG to do the right thing or rather “follow the rules” and avoid a court battle. None were able to remedy the situation. And sadly, none stood up for the athlete.

 

So much preparation time wasted due to the laid-back attitude of the CAG. Why were the trials delayed? Who in CAG sent the email asking for clarification on the age limit and why was it needed all of a sudden? Who in CFI responded without taking proper recourse to the rules and despite the fact that there were already precedents of those over 35+ taking part in competition conducted by CFI?  Should heads not roll? Where is accountability?

 

The participants are expected to pay for their travel, boarding, lodging etc, There is a Team Manager, paying his own fare. Why? Does the Government through the Indian Olympic Association (IOA) or Goa Olympic Association (GOA) or Sports Authority of Goa (SAG) not give the Association funds to conduct tournaments, fund teams, develop facilities and sports-persons.? Where does the entire sport budget go?

 

The BCCI has shown the way to avoid conflict of interest rigorously. In CAG this is thrown to the winds, can a race official at CAG also have a business interest in cycling? What about competence, is it not needed for officials? Who decides, are minutes available?

 

Is the Association only a vote bank for officials aspiring to get elected to the nodal agencies viz GOA or IOA? The smallest cycling club in Goa will have more members than CAG, Why? Is it because they can control the voting pattern of a few trusted individuals to ensure the same people continue at the helm forever, irrespective of the performance of the Association in developing the sport?  The above arguments can be made for swimming, basketball, table tennis etc etc

 

For a change to happen which will see sports in Goa / India flourish, there has to be transparency and most importantly a cap on the number of terms an office bearer can continue in office. Associations should be treated on par with public companies and they should be mandated to publish their accounts in leading dailies every six months. If conflict of interest issues are raised the associations should act immediately. Membership should be made open as per the bye laws of the Association and these should not be restrictive. The focus should be on development of the respective sport and not being the best in manipulation and politics. Jai Hind.

 

PS: As you read this the competition will be underway. We wish all the competitors the very best, they work hard despite the apathy and callousness of the officialdom.

DO GOAN LIVES MATTER

This first appeared in the Heraldo dated 27 Jan 2023

There is a huge wave and we are not referring to the waves on Goa’s famed shores, these waves are actually a tsunami, hitting goans from all walks of life and swamping them.

 

The news that MPT has been given permission to double its coal handling despite an assurance in the assembly that the amount of coal handled will be maintained if not reduced. The powers that be say now, it is necessary for jobs and economy. Coal can be handled without pollution, and these worthies will impress on the companies importing coal to take steps to ensure the same. Really, why cannot the lawmakers entrusted with safe guarding our interests say, please handle the current coal without pollution and we will enhance the quantity for you.

 

Without pollution, is not rocket science, it needs investment, a dome under which coal is handled at the port, mechanically covered wagons, not the flapping tarpaulins that are currently used, misting machines to ensure zero dust. This will reduce the profit of a few but make life healthier for goans.

 

The next wave is the hurried commissioning of the “Manohar” airport at MOPA which is closer to Maharashtra. Hurried because despite it being in the making for 10 years no effort was made to connect the airport to the rest of Goa. The Konkan Railway has been waiting for the Goa Government to ask them to run a service from Canacona to Pernem, it will surely be a blessing to those living in the southern parts of Goa. The Government finally woke up after they realised that taxis cannot be depended on. Like the expansion of current narrow road, this is going to take some time, till then everyone has to manage. Why could not Dabolim continue till it MOPA was ready? Why the hurry?

 

The Government was thinking taxis, but that too apparently takes time so the airport is functioning but taxis/transport is not. The focus is transport for tourists. What about the 15 lacs residents who live in Goa, do they not need a good and efficient taxi system, with technology anything less than an app based system would be going back to the stone ages. So with the taxicars and Government slugging it out, the local goan once again misses the bus.

 

If that was not bad enough, the Government in its wisdom decided to divert the electric buses from the Panaji Margoa route to the airport, thus depriving regular paying commuters who had got passes for the service. They had to make do with the rickety old ordinary buses while paying for AC service. If locals are employed at MOPA, commuting would be expensive even by bus.  

 

Those living in the costal belt especially in the north had to push the courts hard to enforce the sound ban, this effected traditional activities like weddings which had to end by 10 PM, just at a time they were getting warmed up. A few bad apples were creating a nuisance, goans suffered due to the noise pollution and then due to the ban. The errant organisers have a bigger hold on the power centers of Goa rather than the citizens who vote. We accept that once we vote, the MLA becomes an independent authority, who takes his instructions directly from God.

 

Double tracking is happening even before the land is acquired, government sponsored encroachment as it were, the people are hapless. Double tracking for whom? Do we need  to destroy goan lives so that more coal can move in the guise of tourism? Where is a study on tourism carrying capacity for Goa?

 

Then last but not least is an issue which spells the death knell for Goa, the acceptance of the proposal by Karnataka to divert the Mhadei river waters. The CM rightly blamed the erstwhile government for the mess, but that is why the congress was removed by the people in 2012, they were corrupt and inefficient. From 2012 what was the Government of the day doing? Most of the MLAs who ran the Government upto 2012 are part and parcel of the current ruling establishment.  Strange but true. Its like pointing a finger at yourself. But the last laugh is on ordinary goans.

 

The people decided to show their displeasure with this proposal in the CM’s backyard at Sankhali, it would have been ideal if he and his team had joined and shown solidarity. This was the theme of the treasury benches, do not play politics but come together. There is no rule that coming together has to be sponsored by the ruling party.

 

Surprisingly it was stated in the house that if the river gets diverted, Goa as we know it is finished and yet apart from assuring the population that the Government will fight legally to stop this diversion, strangely no one gave a hint that if it fails what next.

 

Environmental laws made after deep study are being diluted to allow faster so called development.  One would imagine after “Joshimath”, there would be a quick rethink. Alas, one of those short cuts is coming back to bite Goa, the Karnataka Government feels it does not need a wildlife clearance if the project is for drinking water, meaning if humans need drinking water, flora, fauna and goans can go to the dogs.

 

A double engine sarkar, means Centre and State working at what is best for Goa. What we have is one engine is pulling independently and the other is simply pushing mindlessly. The waters of the Mhadei have the power to ensure Goa and goans float safely again, because it is going to force a rethink quickly. VIVA GOA.