Is the Islamic world abandoning Pakistan? After Saudi Arabia refused to bailout Pakistan, Kuwait is making Islamabad pay its dues for diesel purchase. Molly Gambhir brings you a report.

Gravitas: Kuwait forces Pakistan to pay its dues | Saudi Arabia refuses to bailout Pakistan

India's capital market regulator SEBI has approved the government's proposal to convert dues of over $1.92 billion by telecom operator Vodafone Idea to equity.

World Business Watch: India's SEBI clears govt proposal to turn Vodafone Idea dues into equity

Even as Pakistan is facing a huge economic crisis, it could also go powerless soon. &nbsp;

This comes as more than two dozen Chinese firms or Independent Power Producers (IPPs) have threatened to cease operations at power plants on Monday if payments are not made upfront, media reports said. &nbsp;&nbsp;

Pakistan has to pay more than Rs 300 billion Pakistani rupees (US $1.59 billion) in dues to several Chinese firms, who are operating in Pakistan. &nbsp;&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistans-former-prime-minister-imran-khan-compare-himself-to-a-donkey-watch-video-476933" hreflang="en">Watch: Pakistan's former prime minister Imran Khan compare himself to a donkey</a>

If plants are closed, a severe power crisis will unfold at a time when the government is battling economic crisis and protests held by former PM Imran Khan-led Pakistan Tehreek-e-Insaf (PTI). &nbsp;

The crucial matter was raised at a meeting, which was presided over by Minister for Planning and Development Ahsan Iqbal. &nbsp;

In it, more than 30 Chinese companies, which are operating under China-Pakistan Economic Corridor (CPEC), in several areas like energy, communication, railways, etc, raised their issues. &nbsp;

Several other complaints like complex visa procedures for Chinese executives, taxation, etc were made by these firms. Pakistani side also complained of delayed responses to communications, a Dawn report said citing sources. &nbsp;

Watch:&nbsp;Gravitas: Another crisis in Pakistan

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-another-crisis-in-pakistan-477717/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

One after another, around 25 representatives of these Chinese firms complained about the dues. They said the plants&nbsp;will shut down within days if upfront payments are not made. &nbsp;&nbsp;

They also complained of high prices of fuel, especially coal. &nbsp;&nbsp;

The Chinese were assured by Iqbal that the PM Shehbaz Sharif has taken notice of the situation. The relevant authorities have been asked to brief him about the issue and arrangements will be made for early payments. The financial difficulties of these firms will be solved within this month, he said. &nbsp;&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

(With inputs from agencies)&nbsp;

Even as Pakistan is facing a huge economic crisis, it could also go powerless soon. This comes as more than two dozen Chinese firms or Independent Power Producers (IPPs) have threatened to cease operations at power plants on Monday if payments are not made upfront, media reports said.

Even as Pakistan is facing a huge economic crisis, it could also go powerless soon. This comes as more than two dozen Chinese firms or Independent Power Producers (IPPs) have threatened to cease operations at power plants on Monday if payments are not made upfront, media reports said. Pakistan has to pay more than Rs 300 billion Pakistani rupees (US $1.59 billion) in dues to several Chinese firms, who are operating in Pakistan. Also Read | Watch: Pakistan's former prime minister Imran Khan compare himself to a donkey If plants are closed, a severe power crisis will unfold at a time when the government is battling economic crisis and protests held by former PM Imran Khan-led Pakistan Tehreek-e-Insaf (PTI). The crucial matter was raised at a meeting, which was presided over by Minister for Planning and Development Ahsan Iqbal. In it, more than 30 Chinese companies, which are operating under China-Pakistan Economic Corridor (CPEC), in several areas like energy, communication, railways, etc, raised their issues. Several other complaints like complex visa procedures for Chinese executives, taxation, etc were made by these firms. Pakistani side also complained of delayed responses to communications, a Dawn report said citing sources. Watch: Gravitas: Another crisis in Pakistan × One after another, around 25 representatives of these Chinese firms complained about the dues. They said the plants will shut down within days if upfront payments are not made. They also complained of high prices of fuel, especially coal. The Chinese were assured by Iqbal that the PM Shehbaz Sharif has taken notice of the situation. The relevant authorities have been asked to brief him about the issue and arrangements will be made for early payments. The financial difficulties of these firms will be solved within this month, he said. WATCH WION LIVE HERE (With inputs from agencies)

On footsteps of Lanka? Chinese firms threaten to close power plants unless Pak pays US $1.59 billion dues

As the government's clampdown on telecom companies intensifies, Bharti Airtel today claimed to have paid ₹10,000 crore to the telecom department as part of statutory dues.

The company is expected to make more payments over time, after the Supreme Court's stern orders.

"The...Amount of ₹10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor," the company said in a statement.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/supreme-court-rejects-plea-of-telecom-giants-to-review-over-order-for-paying-rs-92k-cr-to-govt-274777/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

News agency PTI reported that Bharti Airtel (alongside the newly merged Telenor India) has paid ₹9,500 crore and Bharti Hexacom has paid another ₹ 500 crore.

The government recently released its figure, according to which, Airtel owes nearly ₹35, 586 crore in statutory dues, which includes licencing fee and the charges for using spectrum.

The Supreme Court's recent strong-worded directions to telecom companies to pay, the telecom department issued orders to Bharti Airtel and Vodafone Idea to pay the past dues as soon as possible.

Following suit, the telecom department issued notices threatening action in terms of the licence terms unless the dues were paid.

Also read: <a class="gs-title" data-ctorig="https://www.wionews.com/business-economy/vodafone-idea-bharti-airtel-reliance-jio-hike-prepaid-prices-by-40-265657" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/vodafone-idea-bharti-airtel-reliance-jio-hike-prepaid-prices-by-40-265657&amp;sa=U&amp;ved=2ahUKEwjIh6nhjtjnAhXzxzgGHQYxCJ8QFjAAegQIABAC&amp;usg=AOvVaw0sPVUfCC2tQTbbjM3eknKU" dir="ltr" href="https://www.wionews.com/business-economy/vodafone-idea-bharti-airtel-reliance-jio-hike-prepaid-prices-by-40-265657" target="_blank">Vodafone Idea, Bharti Airtel, Reliance Jio hike prepaid prices</a>

In Uttar Pradesh (East), the office remained open even on a Saturday to ensure the payments were made.

On Friday, Airtel vowed to pay ₹10,000 crores to the Department of Telecommunications by February 20, with the leftover amount set to be paid before March 17.

But on Monday, the company said, "we are in the process of completing the self assessment exercise expeditiously and will duly make the balance payment upon completion of the same, before the next date of hearing in (the) SC".

Also read: <a class="gs-title" data-ctorig="https://www.wionews.com/business-economy/currently-assessing-the-amount-will-make-payment-in-next-few-days-vodafone-280851" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/currently-assessing-the-amount-will-make-payment-in-next-few-days-vodafone-280851&amp;sa=U&amp;ved=2ahUKEwjEg4f3jtjnAhWNxzgGHf4BDPwQFjAAegQIBRAC&amp;usg=AOvVaw33iN3VsudiucgMhUBT4zpQ" dir="ltr" href="https://www.wionews.com/business-economy/currently-assessing-the-amount-will-make-payment-in-next-few-days-vodafone-280851" target="_blank">Currently assessing the amount; will make payment in next few days</a>: Vodafone

As per PTI, 15 entities owe ₹1.47 lakh crore, ₹92,642 crore in unpaid licence fee and ₹55,054 crore in spectrum usage charges.

Vodafine Idea Ltd owes dues worth ₹53,000 crore: ₹24,729 crore in spectrum dues and ₹28,309 in licence fee.

(With inputs from PTI, ANI)

As the government's clampdown on telecom companies intensifies, Bharti Airtel today claimed to have paid ₹10,000 crore to the telecom department as part of statutory dues.

As the government's clampdown on telecom companies intensifies, Bharti Airtel today claimed to have paid ₹10,000 crore to the telecom department as part of statutory dues. The company is expected to make more payments over time, after the Supreme Court's stern orders. "The...Amount of ₹10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor," the company said in a statement. News agency PTI reported that Bharti Airtel (alongside the newly merged Telenor India) has paid ₹9,500 crore and Bharti Hexacom has paid another ₹ 500 crore. The government recently released its figure, according to which, Airtel owes nearly ₹35, 586 crore in statutory dues, which includes licencing fee and the charges for using spectrum. The Supreme Court's recent strong-worded directions to telecom companies to pay, the telecom department issued orders to Bharti Airtel and Vodafone Idea to pay the past dues as soon as possible. Following suit, the telecom department issued notices threatening action in terms of the licence terms unless the dues were paid. Also read: Vodafone Idea, Bharti Airtel, Reliance Jio hike prepaid prices In Uttar Pradesh (East), the office remained open even on a Saturday to ensure the payments were made. On Friday, Airtel vowed to pay ₹10,000 crores to the Department of Telecommunications by February 20, with the leftover amount set to be paid before March 17. But on Monday, the company said, "we are in the process of completing the self assessment exercise expeditiously and will duly make the balance payment upon completion of the same, before the next date of hearing in (the) SC". Also read: Currently assessing the amount; will make payment in next few days: Vodafone As per PTI, 15 entities owe ₹1.47 lakh crore, ₹92,642 crore in unpaid licence fee and ₹55,054 crore in spectrum usage charges. Vodafine Idea Ltd owes dues worth ₹53,000 crore: ₹24,729 crore in spectrum dues and ₹28,309 in licence fee. (With inputs from PTI, ANI)

Airtel pays statutory dues worth ₹10,000 crore after Supreme Court's stern orders

The United Nations has thanked India for the timely payment of its regular budget assessment dues. India is the fourth nations for doing so, paying its dues ahead of the February 1, 2020 deadline.&nbsp;

India paid $23,396,496 in total to the United Nations on January 10. Armenia, Portugal and Ukraine were the three countries ahead of India in paying their dues on time.&nbsp;

India's Permanent Representative to the UN Ambassador Syed Akbaruddin tweeted on the same saying &nbsp;"Very few have already made it..."

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Very few have already made it... 
Hope many, many more make it... 
 
Check out which <a href="https://twitter.com/UN?ref_src=twsrc%5Etfw">@UN</a> members r on <a href="https://twitter.com/UN?ref_src=twsrc%5Etfw">@UN</a> 2020 Honor Roll already.<a href="https://t.co/9puqL8Zlrd">https://t.co/9puqL8Zlrd</a> <a href="https://t.co/HLFhI34kFN">pic.twitter.com/HLFhI34kFN</a>
— Syed Akbaruddin (@AkbaruddinIndia) <a href="https://twitter.com/AkbaruddinIndia/status/1215826742499315712?ref_src=twsrc%5Etfw">January 11, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"Very few have already made it... Hope many, many more make it... Check out which @UN members r &nbsp;on @UN 2020 Honor Roll already," Akbaruddin's tweet read.&nbsp;

Also read: <a href="https://www.wionews.com/india-news/india-among-34-un-nations-to-pay-regular-annual-dues-within-stipulated-time-254631">India among 34 UN&nbsp;nations to pay regular annual dues within stipulated time</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-pays-234-mn-for-the-un-budget-2020-un-facing-deep-cash-deficit-273659/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

In October 2019, the United Nations shared a document which showed India among 34 nations that paid their regular annual dues within the stipulated time of 30 days.&nbsp;

Out of 129, only 34 members paid their regular budget assessments in full within the 30-day due period specified in the UN's Financial Regulation.

The UN's operating budget for 2018-2019 was close to $5.4 billion which didn't include the money for peacekeeping operations. India's contribution was $23,253,808 last year.

UN Secretary-General Antonio Guterres spoke about the United Nation's worst deficit in nearly a decade last year.&nbsp;

"The organisation runs the risk of depleting its liquidity reserves by the end of the month and defaulting on payments to staff and vendors," an official statement read.&nbsp;

The United Nations has thanked India for the timely payment of its regular budget assessment dues. India is the fourth nations for doing so, paying its dues ahead of the February 1, 2020 deadline.

The United Nations has thanked India for the timely payment of its regular budget assessment dues. India is the fourth nations for doing so, paying its dues ahead of the February 1, 2020 deadline. India paid $23,396,496 in total to the United Nations on January 10. Armenia, Portugal and Ukraine were the three countries ahead of India in paying their dues on time. India's Permanent Representative to the UN Ambassador Syed Akbaruddin tweeted on the same saying "Very few have already made it..." Very few have already made it... Hope many, many more make it... Check out which @UN members r on @UN 2020 Honor Roll already.https://t.co/9puqL8Zlrd pic.twitter.com/HLFhI34kFN — Syed Akbaruddin (@AkbaruddinIndia) January 11, 2020 × "Very few have already made it... Hope many, many more make it... Check out which @UN members r on @UN 2020 Honor Roll already," Akbaruddin's tweet read. Also read: India among 34 UN nations to pay regular annual dues within stipulated time × In October 2019, the United Nations shared a document which showed India among 34 nations that paid their regular annual dues within the stipulated time of 30 days. Out of 129, only 34 members paid their regular budget assessments in full within the 30-day due period specified in the UN's Financial Regulation. The UN's operating budget for 2018-2019 was close to $5.4 billion which didn't include the money for peacekeeping operations. India's contribution was $23,253,808 last year. UN Secretary-General Antonio Guterres spoke about the United Nation's worst deficit in nearly a decade last year. "The organisation runs the risk of depleting its liquidity reserves by the end of the month and defaulting on payments to staff and vendors," an official statement read.

India becomes fourth nation to pay UN dues on time, world body thanks New Delhi

A major crisis at the struggling carrier <a href="https://www.wionews.com/business-economy/naresh-goyal-quits-jet-airways-205510">Jet Airways</a> was averted Sunday after its pilots' body, National Aviator's Guild (NAG), deferred till April 15 <a href="https://www.wionews.com/business-economy/jet-airways-suspends-services-to-13-international-routes-till-end-april-205012">its call for halting operations</a>.

The decision was taken at an open house meeting of NAG members which took place in both Mumbai and Delhi on Sunday afternoon, NAG president Karan Chopra told reporters after the meeting which lasted about four hours.

The NAG, which claims to represent around 1,100 of the 1,600 Jet Airways pilots, had announced earlier that its members will not fly from April 1, unless their salary dues were cleared and clarity was provided on future payments by March 31.

"The management has shown us a positive intent by transferring our (December) salary and we thought we should give them at least a couple of weeks to settle down and form the interim board and solve our issues which they have already spoken about earlier.

"Therefore, the collective call taken by the pilots in both Mumbai and Delhi of no flying, which was supposed to start from April 1, has now been deferred to April 15 in a hope that something positive pans out in two weeks," Chopra said.

On March 21 the NAG had requested the government to intervene for the survival of Jet Airways, after which State Bank of India (SBI) stated that the lenders will infuse interim funding of Rs 1,500 crore to sustain its operations for the next two months.

Last Monday, Jet Airways' board approved a resolution plan formulated by SBI-led domestic lenders.

Under the plan, lenders decided to take control of the airline and make a fund infusion of Rs 1,500 crore.

It has been only six days since the lenders, who are now the new owners, announced additional funding to Jet Airways, and that is why they should be given more time to resolve the issues, Chopra said.

He, however, urged SBI chairman Rajnish Kumar to hold a meeting with pilots' representatives for a clear assessment of the affairs at the airline.

SBI had said the salaries will be paid out of the interim funding, Chopra noted, adding that last night pilots were intimated about disbursal of remaining 87.50 per cent of the December salary.

Jet Airways has been defaulting on salary payments to pilots, engineers and senior management since August 2018.

Its engineers have also reportedly threatened to stop work from April 1 if their dues were not cleared by March 31.

The loss-making airline, now under the ownership of SBI-led consortium of lenders following a debt-recast plan, said Saturday that it could remit only the remaining amount of December salary to pilots and others, as of now.

"Currently, along with engineers and senior staff, we are three salaries behind. In totality, it is up to 300 per cent which is slightly more than the 287.50 per cent dues last time. The total payout of salary for pilots, engineers and general managers and above-level executives would be in the range of Rs 320-350 crore for the period between January and March this year," Chopra said.

The clearing of remaining dues will be in conjunction with interim funding, as per Jet Airways chief executive Vinay Dube, Chopra informed.

The NAG chief added that now the pilots are hoping that interim funding comes in and remaining dues get cleared.

The NAG hopes that the interim funding continues, but it is not sure about the amount that will come in and how much will be the subsequent pay-out, Chopra stated.

"We urge for a meeting with SBI as early as possible. Ever since our last request, we haven't heard back from him (SBI chairman)," Chopra said.

NAG General Secretary Tej Sood, in a letter to Kumar on March 25, had sought a meeting so that the pilots could get "an idea of the recovery roadmap".

A major crisis at the struggling carrier Jet Airways was averted Sunday after its pilots' body, National Aviator's Guild (NAG), deferred till April 15 its call for halting operations.

A major crisis at the struggling carrier Jet Airways was averted Sunday after its pilots' body, National Aviator's Guild (NAG), deferred till April 15 its call for halting operations. The decision was taken at an open house meeting of NAG members which took place in both Mumbai and Delhi on Sunday afternoon, NAG president Karan Chopra told reporters after the meeting which lasted about four hours. The NAG, which claims to represent around 1,100 of the 1,600 Jet Airways pilots, had announced earlier that its members will not fly from April 1, unless their salary dues were cleared and clarity was provided on future payments by March 31. "The management has shown us a positive intent by transferring our (December) salary and we thought we should give them at least a couple of weeks to settle down and form the interim board and solve our issues which they have already spoken about earlier. "Therefore, the collective call taken by the pilots in both Mumbai and Delhi of no flying, which was supposed to start from April 1, has now been deferred to April 15 in a hope that something positive pans out in two weeks," Chopra said. On March 21 the NAG had requested the government to intervene for the survival of Jet Airways, after which State Bank of India (SBI) stated that the lenders will infuse interim funding of Rs 1,500 crore to sustain its operations for the next two months. Last Monday, Jet Airways' board approved a resolution plan formulated by SBI-led domestic lenders. Under the plan, lenders decided to take control of the airline and make a fund infusion of Rs 1,500 crore. It has been only six days since the lenders, who are now the new owners, announced additional funding to Jet Airways, and that is why they should be given more time to resolve the issues, Chopra said. He, however, urged SBI chairman Rajnish Kumar to hold a meeting with pilots' representatives for a clear assessment of the affairs at the airline. SBI had said the salaries will be paid out of the interim funding, Chopra noted, adding that last night pilots were intimated about disbursal of remaining 87.50 per cent of the December salary. Jet Airways has been defaulting on salary payments to pilots, engineers and senior management since August 2018. Its engineers have also reportedly threatened to stop work from April 1 if their dues were not cleared by March 31. The loss-making airline, now under the ownership of SBI-led consortium of lenders following a debt-recast plan, said Saturday that it could remit only the remaining amount of December salary to pilots and others, as of now. "Currently, along with engineers and senior staff, we are three salaries behind. In totality, it is up to 300 per cent which is slightly more than the 287.50 per cent dues last time. The total payout of salary for pilots, engineers and general managers and above-level executives would be in the range of Rs 320-350 crore for the period between January and March this year," Chopra said. The clearing of remaining dues will be in conjunction with interim funding, as per Jet Airways chief executive Vinay Dube, Chopra informed. The NAG chief added that now the pilots are hoping that interim funding comes in and remaining dues get cleared. The NAG hopes that the interim funding continues, but it is not sure about the amount that will come in and how much will be the subsequent pay-out, Chopra stated. "We urge for a meeting with SBI as early as possible. Ever since our last request, we haven't heard back from him (SBI chairman)," Chopra said. NAG General Secretary Tej Sood, in a letter to Kumar on March 25, had sought a meeting so that the pilots could get "an idea of the recovery roadmap".

Jet Airways pilots defer strike, say will now stop flying after April 15

Indian oil refiners will clear around $6.7 billion (USD) of outstanding debt to Iran through Turkey`s Halkbank within a short period, a senior Iranian economy official said on Wednesday. 
 
India is one of the biggest buyers of Iranian crude and built up a payments backlog when Iran was under Western sanctions, with its refiners owing about $6.5 billion to Iran. They cleared around $770 million in euros through Halkbank to the National Iranian Oil Co (NIOC) earlier in May. 
 
&quot;As per the instructions of the Central Bank of Iran, the local banks in India will transfer the money to Halkbank,&quot; Sadegh Akbari, Iran`s general director for foreign economic relations, told reporters at a conference in Istanbul. 
($1 = 0.8970 euros)

India will pay back the $6.7 billion oil dues to Iran.

Indian oil refiners will clear around $6.7 billion (USD) of outstanding debt to Iran through Turkey`s Halkbank within a short period, a senior Iranian economy official said on Wednesday. India is one of the biggest buyers of Iranian crude and built up a payments backlog when Iran was under Western sanctions, with its refiners owing about $6.5 billion to Iran. They cleared around $770 million in euros through Halkbank to the National Iranian Oil Co (NIOC) earlier in May. "As per the instructions of the Central Bank of Iran, the local banks in India will transfer the money to Halkbank," Sadegh Akbari, Iran`s general director for foreign economic relations, told reporters at a conference in Istanbul. ($1 = 0.8970 euros)

India will soon pay the $6.7 billion oil payment backlog to Iran, Iranian official says.

dues

Dues, News on Dues, stories on Dues, articles on Dues, Dues stories at Wion, Dues news, Dues latest news