Month: June 2019

Exclusive: DHFL lenders to sign inter-creditor agreement for resolution plan by July 5

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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To protect their exposure of about Rs 46,000 crore to the cash-strapped Dewan Housing Finance Corporation Ltd (DHFL), the lenders have decided to sign the inter-creditor agreement (ICA) for implementing the resolution plan by July 5, banking sources told CNBC-TV18.

The large lenders to the company include SBI, Bank of Baroda, Bank of India, Union Bank of India, Canara Bank and Syndicate Bank.

The next lenders’ meeting for DHFL is likely to take place on July 5. The banks are expected to discuss options for restructuring the debt of the company after the ICA is signed. Securitisation of assets and conversion of debt to equity are among the options being considered.

The banks may also look at conversion of debt to equity as an interim measure if an investor is found for DHFL.

It may be noted that DHFL has more than Rs 1 lakh crore of borrowings; banks likely to have funded 40-50 percent of it.

Union Bank of India has taken the lead to call for a consortium meeting today, as one of the largest lenders to the NBFC, the sources said, adding that the resolution plan would have to be worked under the Reserve Bank of India’s June 7 circular on stressed assets resolution.

As per the June 7 circular, banks are allowed a 30-day ‘Review Period’ after a borrower defaults to start working on a resolution plan, which is required to be implemented in 180 days, failing which banks have to make excess provisioning.

There are several options on the table for lenders, including securitisation of DHFL’s assets as well as the conversion of debt to equity, said a source. But debt conversion would only be considered as an interim measure to transfer the stake to a new investor, added the source.

On June 4, DHFL missed its deadline to make Rs 1,150 crore payment to its bondholders, which it repaid after a gap of seven days and then again failed to make Rs 225-crore payment of unsecured commercial paper payment which was due on June 25.

According to a Morgan Stanley report dated June 5, DHFL had a total debt of Rs 1,06,320 crore, which included bank loans to the tune of Rs 38,230 crore. State Bank of India, with Rs 8,800 crore of exposure is the highest lender, followed by Bank of Baroda with Rs 4,490 crore exposure, Bank of India Rs 3,560 crore exposure, Union Bank of India with Rs 2,510 crore, Canara Bank with Rs 2,400 crore and so on, the same report showed.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Coal supply by CIL to power sector drops 3% in April-May

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Supply of coal to the power sector by state-owned Coal India Limited (CIL) declined by 2.6 percent to 80.9 million tonnes in the first two months of the ongoing fiscal, government data showed.

This comes amid coal imports rising 12.9 percent to 235.2 million tonnes (MT) in FY19 over 208.2 MT imported in FY18.

The country’s top dry-fuel miner CIL had supplied 83.1 MT of coal in April-May period of FY18, according to government data.

In May, coal dispatch by CIL dropped 4.9 percent to 40.6 million tonnes from 42.7 MT in May 2017-18.

Coal supply by SCCL also dropped by 2 percent to 9.4 MT in April-May 2018-19, from 9.6 MT supplied in the corresponding period of the previous fiscal.

SCCL is a government coal mining company jointly-owned by the Centre and Telangana.

The Centre had earlier said that no power plant was facing fuel shortages, adding that none of the thermal power plants have reported any loss of generation due to supply constraints.

Coal India, which accounts for more than 80 per cent of domestic coal output, is targeting more than 8 percent growth in production at 660 million tonnes in 2019-20 compared to 607 million tonnes in the last fiscal.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Stop calling luxury cars sin goods; reduce GST, says JLR

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government should stop classifying luxury cars as sin goods and reduce tax burden on such vehicles, as manufacturers contribute significantly in the country’s economic growth, according to Jaguar Land Rover India.

Stating that heavy tax burden has restricted growth of the luxury car market in India, Jaguar Land Rover India president and managing director Rohit Suri told PTI that if the criteria of sin goods classification is based on its high cost, then even going to five-star or wearing expensive shirts and shoes would also be ‘sin’.

At present, luxury vehicles in India attract top GST slab of 28 per cent and additional cess of 20 per cent on sedans and 22 per cent on SUVs, taking the total tax incidence to 48 per cent and 50 per cent, respectively.

“The government calls it (luxury vehicles) sin goods. This does not allow the market to grow. We can’t understand how it is a sin good. I can understand something which impacts your health like cigarettes but does driving a car impact your health?” Suri said.

He argued that it was unfair to classify luxury vehicles as sin goods just based on the expense, without looking at their contribution to India’s economic development, such as by providing employment across the value chain.

“If you classify this (luxury vehicles) as sin goods then there are ten more goods like wearing expensive shirts or shoes, which are also sin. In that case, every five-star hotel should be sin and people going there should be called sinners.

“We employ around 2,400 people. We give employment to people across our value chain. If the market remains restricted then we are going to be handicapped,” Suri said.

At present, the Indian luxury vehicles market is around 40,000 units annually, and JLR with its product portfolio addresses a segment of around 27,000 units.

“The market size is small, all because of the high GST rate that the government continues to apply,” he added.

“We are very keen, we are hoping that the government will stop calling us sin goods. Do you want to stop the growth of the industry by classifying it as sin goods? It is something we are clearly not happy with the way it is being branded,” Suri lamented.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Govt to introduce further reforms in GST today to mark 2 years of rollout

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Kicking off celebration to mark two years of the GST implementation, the finance ministry will on Monday come up with further reforms in the indirect tax system with introduction of new return system, rationalisation of cash ledger system and a single refund-disbursing mechanism, among others.

Minister of State for Finance and Corporate Affairs Anurag Thakur will preside over the event alongside key secretaries and officials of various departments, the finance ministry said in a release on Sunday.

The introduction of GST was a game changer for the Indian economy as it has replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime, it said.

The ministry said it will introduce the new return system on a trial basis from July 1 and on mandatory basis from October 1.

“Sahaj & Sugam returns for small taxpayers are proposed,” it said.

With regards to single cash ledger, the government will rationalise the ledger in such a manner that earlier 20 heads are merged into 5 major heads, it added.

There is only one cash ledger for tax, interest, penalty, fee and others.

A single refund-disbursing mechanism will come into play wherein the government which sanctions refund disburses all four major heads of refunds namely CGST, SGST, IGST and cess, the ministry said.

“Threshold limit of Rs 40 lakh is offered of suppliers of goods as per the choice of states. Introduction of composition scheme for small service providers up to an annual turnover of Rs 50 lakh with a tax rate of 6 per cent, electronic invoicing system in a phase-wise manner for B2B transactions is proposed to be introduced and GST Appellate Tribunals are being established at various state headquarters and area benches also,” it said.

The goods and services tax (GST) was implemented through a gala ceremony held in the central hall of Parliament at the midnight of June 30, 2017 and came into effect from July 1, 2017.

The government said GST has integrated India into a single common market by breaking barriers to inter-state trade and commerce.

By eliminating cascading of taxes and reducing transaction costs, it will enhance ease of doing business and provide an impetus to ‘Make in India’ campaign.

During the course of the past two years, the government brought in various changes in the GST system both with regard to quantum of taxes and inclusion and exclusion of items (goods and services).

At the event, a book on ‘GST for MSME’ will also be released.

The Central Board of Indirect Taxes and Customs’ officers who have put in hard work in the implementation of GST will be awarded ‘GST Commendation Certificates’ by Thakur, release said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

BJP parliamentary party meeting on Tuesday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The first meeting of the Bharatiya Janata Party (BJP) parliamentary party during the ongoing session will be held on July 2, with Prime Minister Narendra Modi expected to lay down the agenda for its near 380 MPs, the highest-ever saffron tally in Parliament.

Apart from the significance of the ongoing session, in which his government will present it first budget and also hopes for the passage of many bills, Modi may also speak about key decisions his dispensation has taken since it assumed power in May.

Though there has been no official word about its agenda, it has been customary in the parliamentary party meeting to facilitate Modi following his return from any significant international event. He returned to India on Saturday after attending the G-20 Summit in Japan.

It will also be the first time in many decades that BJP veterans LK Advani and Murli Manohar Joshi will not be present in the BJP meeting as the party did not field them in Lok Sabha polls on the ground of 75-year age bar it introduced for its candidates.

The first meeting was scheduled for June 25 but called off following the death of Rajasthan BJP president and Rajya Sabha member Madan Lal Saini.

The BJP won an unprecedented 303 seats in the general election.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

China’s factory activity shrinks as US tariffs, slowdown hit orders

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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China’s factory activity shrank more than expected in June, an official manufacturing survey showed, highlighting the need for more economic stimulus as US tariffs and weaker domestic demand ramped up pressure on new orders for goods.

The Purchasing Managers’ Index (PMI) stood at 49.4 in June, China’s National Bureau of Statistics said on Sunday, unchanged from the previous month and below the 50-point mark that separates growth from contraction on a monthly basis. Analysts polled by Reuters predicted a reading of 49.5.

The weak manufacturing readings are likely to cast a shadow over the apparent progress US and Chinese leaders made at the G20 summit in Japan over the weekend in restarting their troubled talks over tariffs amid a costly trade war.

They will also spark concerns about stalling growth in China and the risk of a global recession, despite slightly better-than-expected export and industrial profits data in May.

Many economists still expect the economy to face strong headwinds in coming months as domestic demand falters and external risks rise.

“Although the outcome of the G20 summit (in Osaka) might boost confidence for some entities, organic growth in the economy is still insufficient, and counter-cyclical stimulus policies need to be maintained,” researchers at Huatai Securities wrote in a research note on Sunday.

“The PMI index continued to fall across the board this month, and only the raw material inventory sub-index was up due to weak demand,” the research note read.

In June, China’s factory output growth slowed, with the subindex falling to 51.3 from 51.7 in May while the contraction in total new orders accelerated to 49.6 from 49.8.

Export orders extended their decline with the sub-index falling to 46.3 from May’s 46.5, suggesting a further weakening in global demand.

Import orders also worsened, reflecting softening demand at home despite a flurry of growth-supporting measures rolled out earlier this year.

Southwest Securities said weak new export orders reflected a fading of the front-loading effect, which had temporarily boosted exports as Chinese companies rushed to place orders before more tariffs took effect.

Presidents Donald Trump and Xi Jinping held ice-breaking talks at the G20 summit on Saturday. However, Chinese state media warned on Sunday Beijing and Washington will likely face a long road before the two countries could reach a deal.

Analysts at Nomura expect any gains achieved on a temporary trade deal between China and the United States would prove fleeting with a renewed escalation likely further down the road.

Trump has already imposed tariffs on $250 billion of Chinese goods and is threatening to extend those to another $300 billion, which would effectively cover all of China’s exports to the United States. China has retaliated with tariffs on US imports.

To deal with the economic challenges, policymakers have released a range of measures and are expected to launch more. Premier Li Keqiang last week pledged to cut real interest rates on financing for small and micro firms.

Goldman Sachs said the lack of any substantive progress in Sino-US trade talks at the G20 over the weekend suggested stimulus, including cuts to banks’ reserve requirements, was likely to be needed.

“We expect more policy easing (two more reserve requirement ratio cuts in 2H this year, more fiscal measures to support infrastructure investment) to come in the next few months,” Goldman Sachs said in a note.

Manufacturers continued to cut jobs in June, with the employment sub-index falling to 46.9, compared with 47.0 in May, when it hit the lowest level seen since March 2009.

An official business survey showed activity in China’s services sector held firm in June despite growing pressure on the broader economy from U.S. trade measures, with the official reading at 54.2 in June from 54.3 in May.

Beijing has been counting on a strong services sector to pick up the slack as it tries to shift the economy away from a dependence on heavy industry and manufacturing exports.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nepal’s billionaire group CG planning major expansion in India, to launch Rs 150 crore food park in Rajasthan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Amidst its plans to expand business in India significantly, Nepal’s billionaire multi-national group CG Corp Global is all set to launch a mega food park in Rajasthan’s Ajmer in three months.

CG Corp Global, the only business group of a South Asian nation having presence in almost all countries of the region, will launch the food park in September, its chairman Binod Chaudhary told IANS in New Delhi.

The soft launch for the project was done by food processing minister Harsimrat Kaur Badal sometime back but now it will be made fully operational in September.

The food park, spread over 100 acres, involves an investment of Rs 150 crore.

The project, which will also involve a chain of cold storages and processing units, will benefit thousands of farmers and provide employment to many in Ajmer and surrounding areas.

“The food park will link farmers to the market directly,” Chaudhary said, adding the project falls under the Modi government’s ‘Make in India’ programme.

We have plans to expand in India significantly without shifting our headquarters from Nepal,” said the chairman of the group which is into fast-moving consumers goods (FMCG), electronics, education, cement, energy, hospitality, realty development, financial services, telecom, Ayurveda, biotech, and engineering and construction sectors in 80 countries across the globe.

The group, with 112 companies and 76 brands, already has a large presence in India. It has 66 hotels under the brand name Fern spread across almost every city of India, in joint venture with the Taj.

The CG group also has a substantial presence in other South Asian countries and is working on further expansion.

The group will be setting up a cement plant in Sri Lanka in two years, Chaudhary said, adding it will be the largest in the island nation.

He said the land has already been allotted for the project and the company is waiting for final approvals.

The CG Global already has 16 hotels in Sri Lanka in partnership with Taj, Jetwing and Ceylon Hotel Corporation (CHC).

It also has hotels in Maldives in partnership with the Taj.

In Bhutan too, the group operates hotels under the brand Zinc Journey.

The group also has Wai Wai brand of instant noodles in Bangladesh.

Chaudhary said except CG, there is no company or group of any of South Asian countries with presence in almost all the SAARC nations.

“The reason for this is the very ineffective SAARC as a regional bloc,” he said.

He said the regional grouping has seen no progress despite being in place for over 25 years.

The intra-regional trade in SAARC is minimal, as compared to the European Union and other such blocs, Chaudhary highlighted.

The billionaire businessman said BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) is a good alternative to SAARC and has a lot of potential.

Prime Minister Narendra Modi did a good thing by inviting leaders of BIMSTEC to his swearing-in ceremony on May 30, said Chaudhary who also attended the mega event.

He said India has to emerge as a real leader.

“What is it doing for prosperity of the region? It has to be visible on the ground,” he said.

Referring to India’s trade with its neighbours, Chaudhary said it is heavily in favour of India, which is not a pleasant situation.

“India needs to re-evaluate whether its policies of the past (vis-a-vis its neighbours) have paid off,” he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

AAI spent Rs 4 crore in 2018-19 to maintain 26 non-operational airports

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Airport Authority of India (AAI) spent Rs 4 crore in 2018-19 to maintain its 26 non-operational airports, according to an official document. In 2017-18, the AAI had spent Rs 2.66 crore to maintain these 26 airports, the document stated.

The AAI owns and manages around 100 operational airports across the country. However, it also has 26 non-operational airports with it that have no flight operations currently.

Some of these 26 airports are in the following places: Donakonda in Andhra Pradesh; Daparizo in Arunachal Pradesh; Rupsi and Shella in Assam; Jogbani, Muzaffarpur, Raxaul in Bihar; Deesa in Gujarat; Chakulia and Deogarh in Jharkhand; Panna, Satna and Khandwa in Madhya Pradesh.

As per the document, the remaining of these 26 airports are in the following places: Aizwal in Mizoram; Nadirgul and Warangal in Telangana; Vellore and Thanjavur in Tamil Nadu; Kailashahar, Kamalpur and Khowai in Tripura; Bareilly and Lalitpur in Uttar Pradesh; Asansol, Balurghat and Malda in West Bengal.

In 2018-19, Rs 85 lakhs was spent by the AAI to maintain the non-operational airport at Vellore in Tamil Nadu, as per the document.

On the non-operational airports of Warangal in Telangana and Kailashahar in Tripura, the AAI spent Rs 56 lakhs and Rs 48 lakhs in 2018-19, respectively, as per the document.

The AAI spent Rs 35 lakhs and Rs 28 lakhs on the non-operational airports that are situated in Rupsi in Assam and Jogbani in Bihar, respectively, according to the document.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Donald Trump becomes first US president to set foot in North Korea, meets Kim Jong Un

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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US President Donald Trump met North Korean leader Kim Jong Un in the Demilitarised Zone (DMZ) between the two Koreas on Sunday, shaking hands warmly and both expressing hopes for peace.

It was the third meeting between the two leaders in just over a year and will raise hopes for a revival of stalled nuclear talks.

Trump, escorted by Kim, briefly crossed a military demarcation line that had for years represented a tense Cold War border, into the North, becoming the first ever sitting US president to set foot in the reclusive country.

Moments later they returned to the South Korean side and joined President Moon Jae-in for a brief chat, marking an unprecedented three-way gathering. Trump and Kim then held a bilateral closed-door meeting.

“It’s a great day for the world,” Trump said as he and Kim stood together amidst a throng of press photographers, aides and bodyguards.

Kim looked relaxed and smiled as he chatted with Trump.

“I was surprised to see your message that you wanted to meet me,” he told Trump, referring to Trump’s Saturday offer, in a Twitter posting, to meet.

“This is an expression of his willingness” to work towards a new future, Kim said.

Kim said it would be a great honour if Trump visited his capital of Pyongyang.

“To cross that line was a great honour,” Trump said, referring to his brief incursion into the North Korean side of the DMZ.

Trump arrived in South Korea late on Saturday for talks with Moon after attending a Group of 20 summit in Osaka, Japan, during which he made the surprise, spur-of-the-moment offer to meet Kim, who accepted it.

Trump and Kim met in the so-called Joint Security Area (JSA), which is patrolled by soldiers from both Koreas. Moon joined the two after their initial handshakes.

Trump and Kim met for the first time in Singapore in June last year, and agreed to improve relations and work towards the denuclearisation of the Korean peninsula.

But there has been little progress since then.

A second summit in Hanoi, Vietnam, in February broke down after the two sides failed to narrow differences between a US demand for North Korea to give up its nuclear weapons and a North Korean demand for sanctions relief.

Trump had earlier told Moon that he had “plenty of time” and was in “no rush” to reach a deal.

North Korea has pursued nuclear and missile programmes for years in defiance of UN Security Council resolutions, and easing tensions with North Korea is one of the US president’s top foreign policy priorities.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Ramdev’s ‘swadeshi’ WhatsApp Kimbho in hibernation, Patanjali still hopeful

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Yoga guru Ramdev’s dream ‘swadeshi’ messaging app ‘Kimbho’ that aimed to give Facebook-owned WhatsApp a run for its money but was taken down from app stores last year owing to privacy concerns is still ‘on hold’, say company executives.

The Kimbho app, launched with much fanfare last year from the house of Patanjali Ayurved, promised features such as chat, multimedia, voice and video calling, video conferencing and collaboration.

Kimbho is a Sanskrit word which means “how are you” or “what’s new”. The app disappeared from the Google Play Store and App Store after users raised security concerns.

A trial version reappeared in August with Patanjali Ayurved promising a final version in a couple of days. This version, however is yet to see the light of the day.

Patanjali, however, appears not to have given up on it completely yet.

According to Abhitab Saxena, senior vice-president and head of information technology at Patanjali, the Kimbho app is on hold for now.

“Baba Ramdev ji and Acharya Balkrishna ji will announce it at a press conference if anything comes up. As for now, the ‘Kimbho app’ is on hold,” Saxena told IANS.

When asked about the recent status of the app and the future plans for Kimbho app, Saxena said that it is “confidential”.

“We will provide an update if anything happens, only Balkrishna ji can give a clear image about the app’s status and everything related to the Kimbho app,” he added.

To run a messaging app like WhatsApp requires top-of-the-line IT infrastructure.

According to Anoop Mishra, one of the nation’s leading social media experts, “you need a team of open source experts, cloud and content delivery network (CDN) experts, data engineers, an in-house team of core developers, API developers, user interface (UI) developers, in-house testing team and user data simulation team”, to run an app like WhatsApp.

“You also need an outsourced hacking team which keeps finding the loopholes in the existing system which was completely missing in ‘Kimbho’ which was a poorly-scripted app,” Mishra added.

SK Tijarawala, the national spokesperson of Patanjali Ayurved, did not respond to the questions about the status of the app.

To build and run a world-class messaging app requires a huge investment of time, tech expertise and money — and eventually needs 10 times more investment for handling servers, security issues and data breaches.

Whether Patanjali would make a fresh attempt to launch the messaging app with full preparation is still not clear but the firm still appears hopeful as it has not yet admitted to shelving it completely.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow