Tag Archives: limits

Switzerland limits CEOs one month pay

A Proposal To Limit Swiss Executive Pay To 12 Times That Of Low-Paid Employees Has Fat Cats Worried

By Adam Taylor

On Nov. 24, Swiss voters will go to the polls to vote on a radical new idea — limiting the monthly pay of the highest earners in Swiss firms to no greater than the yearly pay of the lowest earners. It’s being called the 1:12 Initiative — and it sure has some people worried.

To understand the context of the vote, you need to know two things about Switzerland. First, the country has a relatively unique system of direct democracy — if 100,000 people sign a proposed change to the constitution, or “popular initiatives,” a referendum is held. If a majority of voters and cantons (Swiss states) agree with the proposal, the change can become law.

The second factor is how these Swiss initiatives have been used recently. Earlier this year Swiss voters agreed to an idea proposed by entrepreneur Thomas Minder that limited executive (in his words, “fat cat”) salaries of companies listed on the Swiss stock market. On the other end of the spectrum, a proposal to give every Swiss adult an unconditional income of $2,800 a month recently gained enough signatures to be voted on.

The 1:12 Initiative lies somewhere between these two extremes in terms of its radical ambition, but its core idea comes from the same place — an angst in Switzerland, a country most famous for centuries of private banking, that executive pay and income inequality are out of control.

To understand the thought process, Business Insider called David Roth, the leader of the youth wing of Swiss party the Social Democrats, and one of the architects of the plan. Roth explained that high executive salaries only became a big issue in 2002 or so, and by 2006/7 they became a public issue. The preparation for the 1:12 Initiative began in 2009.

Continue reading Switzerland limits CEOs one month pay

Pakistan could “pull troops Afghan from border” if U.S. cuts aid

By Zeeshan Haider

Islamabad : (Reuters) – Pakistan could pull back troops fighting Islamist militants near the Afghan border if the United States cuts off aid, the defense minister said on Tuesday in an interview with Pakistani media.

The United States Monday said it would hold back $800 million — a third of nearly $2 billion in security aid to Pakistan — in a show of displeasure over Pakistan’s removal of U.S. military trainers, limits on visas for U.S. personnel and other bilateral irritants.

“If at all things become difficult, we will just get all our forces back,” Defense Minister Ahmed Mukhtar said in an interview with the Express 24/7 television to be aired later on Tuesday.

The television aired excerpts of the interview Tuesday.

“If Americans refuse to give us money, then okay,” he said. “I think the next step is that the government or the armed forces will be moving from the border areas. We cannot afford to keep military out in the mountains for such a long period.”

In Pakistan, the defense minister is relatively powerless. Real defense and military policy is made by the powerful Chief of Army Staff, General Ashfaq Kayani, and the head of the Directorate of Inter-Services Intelligence, Lieutenant-General Ahmed Shuja Pasha.

Monday, the military said it could do without U.S. assistance by depending on its own resources or turning to “all-weather friend” China.

Mukhtar later told Reuters Pakistan wanted the money spent on the maintenance of the army in the tribal areas. “This is what we are demanding,” he said. “It is our own money.” ….

Read more → REUTERS

The biggest hurdle to the better future of Pakistan

Survival of the self-centered

By Badar Alam

Excerpt:

…. In another indication that the army continues to overstep institutional boundaries, the press release has invoked popular endorsement for the army. The question is why it needs such an endorsement if it is carrying out its official functions of maintaining national defence and internal security as it should. Is it hankering after direct public support because it does not operate under a constitutional arrangement in which a people’s will is solicited and channeled into the policies of the government through democratically elected institutions? Effectively the army has become a supra-constitutional organisation that bypasses, and sometimes also subverts, the writ of the people in their very name.

If the army is a government department, with its rights and responsibilities laid down under the constitution mandated by the people of Pakistan, does it then perform as a government department? No, it is not. Postal services, for example, do not set ideological goals for them and they do not seek direct public support in discharging their duties; they just deliver letters as they are supposed to do under the legal, institutional and constitutional provisions that govern their functioning.

The army, indeed, needs to do what it is supposed to do under the law and the constitution – and that excludes a lot of what it is doing now. First and foremost, it needs to start observing its institutional limits and stop talking and acting beyond its constitutional mandate. If it cannot do that, and it seems it does not want to, no amount of loud declarations about its pious intentions and even louder condemnations of the ‘divisive designs’ of its alleged detractors will improve its image and performance.

To read complete article: DAWN.COM

US House panel OKs defense bill, limits Pakistan aid

WASHINGTON: The House Appropriations Committee has approved a defense spending bill that imposes limits on US aid to Pakistan and creates a special bipartisan group to review the US role in Afghanistan.

The panel gave the go-ahead to the bill on a voice vote Tuesday. The legislation would provide $530 billion for the Defense Department and $119 billion for the wars in Iraq and Afghanistan. The bill is $9 billion less than President Barack Obama requested.

The bill would withhold 75 per cent of the $1.1 billion in US aid to Pakistan until the administration reports to Congress on how it would spend the money. Reflecting the frustration with Pakistan’s effort in battling terrorism, the committee adopted an amendment that gives Congress even more power to review the spending.

Courtesy: DAWN.COM

Demanding Answers From Pakistan

By ZALMAY KHALILZAD

SINCE the 9/11 attacks, Pakistan has behaved toward the United States as both friend and adversary — and gotten away with it. The latest evidence of its duplicity is the revelation that Osama bin Laden lived for years in a house near Pakistan’s national military academy and a local branch of its intelligence service without any evident interference.

Even before the American raid last week on Bin Laden’s compound in Abbottabad, Pakistan had a huge credibility problem. It provides arms and safe haven for Afghan insurgent groups and pays their commanders to carry out attacks, but denies doing so.

Continue reading Demanding Answers From Pakistan