Monday, May 5, 2014

Political Environment in India Becoming More Favorable for Pan Global Corp. (PGLO)

A high level committee of the Environment Ministry of the state of Uttarakhand has been suggesting 23 major hydroelectric power projects planned in the state be scrapped due to potential environmental damage and impact on biodiversity. The expert body headed by Dr. Ravi Chopra stated that “enhanced sediment availability from and in paraglacial zones could be a serious problem for the longevity of the existing, under construction and proposed hydro power projects in Uttarakhand”. In June of last year, flooding in that state caused the death of nearly 5,700 people. Many environmentalists blamed the rash construction of very large scale hydro-electric projects that involved building major dams as contributing to the disaster by weakening river banks.

This will not impact Pan Global Corporation’s Project Badyar, a 5.7 Megawatts power small hydroelectric power station located in the foothills of the Himalaya Mountains. The projects that the green panels are pushing to scrap are far larger scale projects that involve the damming of rivers that would cause significant deforestation and displacement of wildlife. Project Badyar diverts water from a river using a diversion trench weir, which is basically a trench that is built across the stream and lies below the bed level of the stream so as not to cause any major obstructions that can impact the ecosystem.

On the political front, it appears that once election results are in, the more business friendly Bharatiya Janata Party (BJP) may capture the majority in the Uttarakhand government. In the 70-member Uttarakhand assembly, the Congress has 32 members of the legislative assembly, four short of the majority figure, and survives on the support of seven legislators of the Progressive Democratic Front (PDF). The buzz is that the PDF members of the legislative assembly can switch over to the BJP. The BJP under the guidance of governor, and now candidate for Prime Minister Marendra Modi in the state of Gujarat, was the most successful in implementing a move toward renewable energy sources and is the most favored by big business.

Matter of fact, it is looking more likely that Marendra Modi will be the next prime minister of India. The largest democratic election in the world is still ongoing and we will know the results by mid-May. Besides having the backing of local business elites, transnational conglomerates such as Ford Motor and General Motors have been very supportive of Modi’s campaign. Oddly enough, Marenda Modi currently is not allowed to visit the United States of America due to a ban on his visa. Described as an extreme Hindu nationalist by some, while Modi was governor of Gujarat in 2002, he may have been complicit in organized riots and pogroms against that states Muslim population which left over 1,000 dead. Accusations of human rights violations have led to a ban on Modi’s visa for the United States, Canada, and other countries. Members of India’s left wing movements have even gone as far as to call Modi India’s Milosevic or refer to him as a fascist. Nevertheless, Gujarat is considered an economic success story, and if he wins the election, the U.S. State Department has promised to overturn the Visa ban.

Bottom line, the upcoming elections are looking to be a net positive for renewable energy source company, Pan Global Corporation as a favorable political environment for small hydro projects and solar power only becomes even more favorable.

For more information of Pan Global Corporation, visit www.panglobalcorp.com

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