New Delhi: The US State Department's annual report on global terrorism, titled "Country Reports on Terrorism", has confirmed the worst fears of National Security Advisor M K Narayanan, stating that the pro-Pakistan Jaish-e-Mohammed was investing in the commodity market and real estate to raise funds for its terrorist activities.
In February this year, Narayanan had revealed at a conference in Munich his apprehensions that terrorist groups could be engaged in the manipulation of stock exchanges as part of their new modus operandi to raise funds for their operations.
The 'Country Terrorism Report' has also revealed that the JeM, led by Maulana Masood Azhar, had withdrawn funds from its bank accounts in anticipation of asset seizures by the Pakistan Government.
These funds were later invested "in legal business such as commodity market, real estate and production of consumer goods," the report said. India had released Masood Azhar from jail in 1999 in exchange of hijacked passengers of IC 814.
The US report also said that Al-Qaida was also suspected to be providing funds to Jaish.
In his Munich speech, Narayanan said: "Isolated instances have been reported about terrorist outfits manipulating the stock markets to raise funds for their operations. Stock exchanges in Mumbai and Chennai have, on occasions, reported that fictitious or notional companies were engaging in stock market operations," he had said while addressing the 43rd Conference on Security Policy.
According to Narayanan, the terrorist groups are, in fact, involved in several legitimate business enterprises like restaurants, real estate agencies and shipping. They use part of their proceeds to siphon off funds for their terrorist activities, he had said.
The US report, however, said India achieved major success last year in countering terrorism by effecting numerous arrests and confiscation of explosives despite challenges associated with its law enforcement and judicial systems.
"Terrorists staged numerous attacks in India, including a series of commuter train bomb attacks in Mumbai which killed over 200 people and injured more than 700," the report notes.
The report lists the most prominent terrorist groups operating in India as the ones operating in Jammu and Kashmir; the Maoists operating in the 'Naxalite belt' in eastern, southern and central India and the ethno-linguistic nationalists in India's north-eastern states," it said.
The report, however, noted that India's counter-terrorism efforts were hampered by its 'outdated and overburdened' law enforcement and legal systems. "Despite these challenges, India scored major successes this year, including numerous arrests and the seizure of explosives and firearms during operations against Lashkar-e-Taiba and other terrorist groups," it said.
Generally the Bush administration has maintained that terrorism remained a problem in South Asia "directly and indirectly threatening" American interests and lives. "To varying degrees, US cooperation with regional partners on counter-terrorism issues continued to increase, but much is left to be accomplished," the State Department said.
(With agency inputs)
Comments
0 comment