Latest news with #oversightcommittee
Reuters
24-07-2025
- Business
- Reuters
India resists EU's oversight proposal on capital flows citing sovereignty concerns, sources say
July 24 (Reuters) - India has pushed back against a proposal by the European Union as part of free trade agreement talks which would give the 27-nation bloc a say in decisions related to capital flows, two Indian government sources said. The proposal, unusual in most free trade agreements, has raised concerns in New Delhi over limiting its ability to act unilaterally during crises, as both sides aim to conclude the deal by the end of 2025. India has in the past imposed restrictions on outflows, including during a currency crisis in 2013. In its proposal to India, the EU has suggested an oversight committee on trade in services and investment policies which would review policy actions, including those taken during financial or balance of payments crises. "India fears such oversight could allow the committee to question or reverse crisis-time policy measures taken by it, which compromises a sovereign's decision-making powers," one of the sources said. India, which trades $190 billion in goods annually with the EU, has also sought clarity on whether decisions taken during emergencies, such as restrictions on capital flows, could be overturned if the committee finds them inappropriate. While trying to limit India's control over capital account decisions, the EU proposes it would have the right to impose temporary restrictions on capital outflows during serious economic difficulties. India argues this creates an imbalance in safeguard powers and deviates from the EU's own practice in FTAs with Vietnam, Singapore, and South Korea, where both sides can apply such measures in exceptional circumstances, the source said. Both sources declined to be identified as they are not authorised to the media. Emails sent to the Reserve Bank of India, Ministries of Finance and Commerce and to the Prime Minister's Office requesting comment did not receive a response. India's opposition to the EU's proposal comes as it negotiates deals with other trading partners including the U.S. and Australia. Accepting oversight or unequal safeguards could limit India's powers on domestic policies and may weaken its push for balanced trade pacts in the future, the sources said. "India has not had an agreement on the FTA so far because of issues such as every country in the bloc wants their point of view or interest to be included," a source from the Ministry of External Affairs said. The European Commission, in its report, opens new tab following the July round of negotiations in Brussels, said "good progress" had been made on capital movements, payments, and transfers, with discussions focused on remaining areas of divergence. India-EU trade talks have faced hurdles over the EU's push to cut import taxes on cars and dairy while seeking stricter climate and labour rules. India wants to protect local farmers, avoid rigid green rules, and keep control over legal disputes.
Zawya
03-07-2025
- Business
- Zawya
Defence Committee Expresses Concern Over Continued Delays in Military Veterans' Benefits
The Portfolio Committee on Defence and Military Veterans has expressed deep concern over the ongoing challenges faced by military veterans, many of whom remain in limbo due to delays in receiving their service-related benefits from the Department of Military Veterans (DMV). During a briefing today on the amended Strategic Plans, annual performance plans, and the 2025/26 Budget of the DMV and the Castle Control Board (CCB), the committee stressed that the absence of a permanent Director-General undermines the department's ability to deliver on its mandate and to manage its budget effectively. The committee also highlighted the dysfunctional organisational structure as a major frustration. Committee Chairperson, Mr Dakota Legoete, said: 'We urgently need the appointment of a Director-General. The current Acting Director General is uncertain about her future, which compromises accountability and decision making. The continued delays in making this appointment destabilise the department and make it difficult for us, as the oversight committee, to track the department's expenditure and performance.' The committee said it was sad that the DMV through its inability to put its stakeholders first continued to return unspent funds back to National Treasury. Members of the committee pointed out that on various occasions veterans were reaching out to them complaining after waiting for more than a year for their benefits. Of specific concern is the roll-out of the pension benefit where it appears that the DMV and implementing agent, the Government Pensions Administration Agency, appear to lack a coherent and responsive plan to serve them. The committee also raised serious concerns about the DMV's failure to establish a functioning internal audit unit which is an essential tool for financial accountability and risk management. The committee highlighted the need for urgent intervention by the executive to turn around the DMV, starting with the appointment of a permanent Director-General, re-evaluating the organisational structure, addressing the findings of the Auditor-General and developing a more responsive department. Distributed by APO Group on behalf of Republic of South Africa: The Parliament.
CTV News
05-06-2025
- Health
- CTV News
Fredericton adds 14 security cameras as part of additional community safety measures
The City of Fredericton has appointed an oversight committee to ensure accountability and action on the recently unveiled recommendations in a Community Safey Task Force report. The updates, presented during the City's Committee on Public Safety Thursday afternoon, include the appointment of the oversight committee. The initiative checks off the top recommendation of the Task Force's report. The goal of the task force is to improve community safety in Fredericton by bringing together relevant stakeholders to look at areas like justice, policing, mental health, addictions, and homelessness. The seven-member oversight committee includes officials from both municipal and provincial levels of government, Mayor Kate Rogers, Fredericton Police Chief Gary Forward, and Fredericton Chamber of Commerce Executive Director Morgan Peters. The group will work on creating action plans and provide quarterly updates on progress to council through the Public Safety Committee. Other measures include the installation of 14 additional security cameras around the city, bringing the overall total to 42 cameras around Fredericton. The new cameras will be put at various high schools, the northside trail and crosstown trail, the Victoria Circle Roundabout, and in business districts. Locations were chosen based on crime trends as well as the input of the community and police force. The Fredericton Police Force is also hoping to extend the Community Engagement Unit (CEU) beyond its six-month pilot period due to its success. The force is seeking an extension from the unit until the end of 2025. The CEU was launched in February and is staffed by six retired officers who prioritized non-emergency calls like theft, mischief, and overall public assistance. Between Feb. 3 and May 28, the CEU handled 523 lower-priority calls, freeing up frontline officers for an estimated 1,046 service hours. For more New Brunswick news, visit our dedicated provincial page.
