Could see the U price rally sooner rather than later! All U stocks will benefit no doubt! ----------------------------------------------------------- Pressure on PM to get nuclear fuel The Asian Age India | Seema Mustafa
New Delhi: Prime Minister Manmohan Singh, who will leave for Washington this weekend with the promise of "big, big things" from US President George W. Bush, is under pressure from the energy and security establishment here to ensure the withdrawal of US sanctions on allowing India to shop for nuclear fuel and nuclear power reactors in the international market. This, experts here pointed out, would be a visible symbol of a successful bilateral visit.
India has been working hard to persuade the US to drop its sanctions and restrictions on the Nuclear Suppliers Group so that the member nations are able to sell not just nuclear fuel, but at least six nuclear power reactors required by India to answer its burgeoning energy needs.
The Tarapur plant is currently down to its last stock of fuel from Russia, which has expressed its inability to continue the supply because of the restrictions imposed by the US on India. It is imperative that the Americans now withdraw the sanctions, according to informed sources here, to give teeth to their promise of civilian nuclear cooperation with India.
Despite high-level consultations, there is still no indication from Washington that the Bush administration is willing to lift sanctions to allow India to shop for nuclear fuel and nuclear power reactors in the international market. India requires both urgently so that it can meet the energy needs necessary for a steady seven per cent growth rate.
The Americans are aware of this, but have yet to make up their mind to lift the sanctions and allow India free access to the civilian nuclear market. Analyst Bharat Karnad was of the view that the US could be willing to sell its Westinghouse 1000 power reactors to India but warns against this as it would make India dependent on Washington for the fuel to keep these running.
Mr Brahma Chellaney of the Centre for Policy Research, however, was categorical that the US had not shed its reservations, and was not going to offer nuclear reactors to India at this stage, or in the near future. The Tarapur plant has limited fuel and the government has no idea at present where the next
stock will come from, or whether it will come at all. All security and nuclear experts were agreed that if the Americans were at all serious about cooperation on nuclear civilian energy, "they will lift the sanctions and allow us to shop for the fuel." Planning Commission deputy chairman Montek Singh Ahluwalia, along with the US energy secretary, Dr Samuel W. Bodman, launched the US-India Energy Dialogue on May 31. The working groups under this have met with "dialogue and action on issues associated with civilian uses of nuclear energy and its control" being one of the items on the agenda.
The Manmohan Singh government has taken several steps to assure the US and the Nuclear Suppliers Group (NSG) of being a responsible nuclear power. It passed the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Bodies) Bill, 2005. It also allowed a US delegation access to its nuclear installations to check the status of nuclear safeguards.
However, till date there is no indication that the NSG is biting the bait and is prepared to review its decision to keep India out on the periphery. Russia recently expressed its inability to sell fuel to India because of the NSG restrictions. This was after the WMD Bill was passed.
Security experts, however, caution against placing all nuclear civilian energy eggs in the US basket. It is pointed out that Washington terminated its nuclear cooperation agreement with India in 1980 as a result of which fuel and spare parts for the Tarapur atomic power station, set up as turnkey project by the US-based General Electric, was stopped initially. India has subsequently got fuel from France, China and Russia. The fuel supply has again been stopped because of the US sanctions. Tarapur now faces a serious fuel crunch.
