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  THE WIRE 05/JUL/2020 The Narendra Modi government two months ago announced the ‘Atmanirbhar’ stimulus package to reboot  India’s micro, small and medium enterprises (MSMEs) sector, which was recently reclassified on the basis of turnover and investment.  With effect from July 1, 2020 as per the latest redefinition, a micro enterprise is reclassified as one in which the plant and machinery investment does not exceed one crore rupees and turnover does not exceed five crore, a small enterprise would be that in which investment shouldn’t  exceed ten crore with turnover up to fifty crore and in a medium enterprise the investment shouldn’t exceed Rs 50 crore with turnover at Rs 250 crore. Announcing this on May 13, Union finance minister Nirmala Sitharaman stated that this new classification was being made under the ‘Atmanirbhar Bharat Abhiyaan’ Economic Package to assuage India’s economic predicament amidst the pandemic. Under this ‘abhiyan’ (scheme) the government has decided to provide

 THE WIRE 02/JUN/2020 Successive official reports on Pakistan’s power sector indicate that the country suffers from a shortage of power generation, transmission losses, lack of planning and inappropriate policies leading to an escalating energy crisis. This power crisis in Pakistan is the direct result of massive institutional and governance failure in the form of reckless energy policies over the last three decades. This begs an answer to the question: what has been the impact of the investments from the China-Pakistan Economic Corridor (CPEC), with its much-touted power projects, on the energy crisis? Circular debt, higher transmission losses and inefficiency of power firms afflict Pakistan’s power sector, according to the leaked government-mandated report of Pakistan’s National Electric Power Regulatory Authority (NEPRA). In December 2019, Pakistan’s NEPRA determined tariff hike of Rs 2.44 per unit on account of fuel cost adjustment. Barely a month later in January 2020, it decided

THE WIRE 24/JUN/2020  In a recent interview, N. Vijaygopal, finance director at Bharat Petroleum, said, “The choices of investing in oil sector will be limited when the world becomes normal and India will be the only happening alternative, … Most of the Western countries will be very afraid of getting into China. So, where else they can go?”. Are oil companies indeed seeking to exit China in search of a stable market to expand after the pandemic starts to recede? And, more importantly, is India likely to become that alternative hydrocarbon destination? With predictions that consumption of petroleum may peak as soon as a decade from now, well within the lifetime of most conventional oilfields, and energy companies awash with supply because of booming oil and gas discoveries, there is now a fundamental difference in the interests of energy producers and foreign business seeking governments. With national governments, rather than independent companies, worried about supply shortages, the

THE WIRE 22/MAY/2020 COVID 19 has brought to the fore and fused the subjects of science, sustainability, and social issues. On  May 14, 2020 the Indian Council for Medical Research (ICMR)  announced that it would partner  with the World Health Organization (WHO) on the Global Solidarity Trial for Treatment of the COVID-19 disease and fast-track trials to help in finding an effective treatment. 25% or 1.69 million of the 4.64 million people affected by the virus have been cured. According to the WHO, there are currently no drugs licensed for the treatment or prevention of COVID-19. Vaccines and treatment options for COVID-19 are currently being investigated around the world. Researchers are performing randomized controlled trials in humans before potential vaccines and other treatments become available. ‘Global Solidarity’ is an international clinical trial to compare four treatment options against the standard of care to assess their relative effectiveness against COVID-19. WHO has don

 THE WIRE 06/APR/2020 Crude oil benchmarks Brent and West Texas Intermediate, opened this morning at $33.5 and $27.3 respectively. Since the fall in prices last month, last week marked a slight recovery in oil prices. This was perhaps a consequence of some hectic intervention efforts by US President Donald Trump, who has spoken with Russian President Vladimir Putin and with Saudi Arabia’s Crown Prince Mohammed bin Salman (aka MBS). Tweeting in his signature farcical manner, Trump declared that he had brokered a deal between Russia and Kingdom of Saudi Arabia (KSA) to cut output by 10 to 15 million barrels per day (bpd). – He followed this with another puerile tweet:  “Could be as high as 15 Million Barrels. Good (GREAT) news for everyone!” The Kremlin denied that President Putin spoke to MBS and the Organization of the Petroleum Exporting Countries (OPEC) meeting called by KSA, which was to be held via video conference today has now been  postponed .   The oil sector is in for some mas

THE WIRE 28/MAR/2020 As the world is in the throes of the COVID-19 pandemic, in South Asia, Afghanistan is especially vulnerable because it shares a 921-km open border with Iran. The Republic of Iran is one of the worst-affected nations in the world by the coronavirus. As of today (March 28, 2020) Iran has registered 15,315 active cases of coronavirus with 2,234 persons dead, and counting. In Afghanistan, the number of coronavirus cases has seen a steady increase. Out of the approximately 800 suspected cases, there are now 110 positive cases and four deaths. With an epidemic at its borders, Afghanistan’s weakened public healthcare system faces its gravest challenge. Thousands of Afghan refugees are returning from Iran every day in overloaded taxis, buses and minivans into the chaos of rudimentary health screenings at the border crossing. According to the International Organisation for Migration, more than 115,000 Afghans returned from Iran just between March 8 and 21. This marked the h