BR100 Decreased By (-0.08%)
BR30 Increased By (0.08%)
KSE100 Decreased By (-0.11%)
KSE30 Decreased By (-0.2%)
AGHA 7.53 Decreased By ▼ -0.10 (-1.31%)
BECO 5.11 Decreased By ▼ -0.46 (-8.26%)
BML 58.30 Decreased By ▼ -1.44 (-2.41%)
BOP 34.58 Increased By ▲ 0.18 (0.52%)
CNERGY 13.68 Increased By ▲ 0.57 (4.35%)
CSIL 6.30 Decreased By ▼ -0.11 (-1.72%)
FCCL 57.55 Decreased By ▼ -0.51 (-0.88%)
FFL 16.50 Increased By ▲ 0.27 (1.66%)
FNEL 1.20 Decreased By ▼ -0.01 (-0.83%)
KEL 7.36 Decreased By ▼ -0.07 (-0.94%)
KOSM 5.98 Decreased By ▼ -0.05 (-0.83%)
LOTCHEM 27.51 Decreased By ▼ -0.16 (-0.58%)
MLCF 101.93 Decreased By ▼ -0.82 (-0.8%)
NBP 203.29 Decreased By ▼ -1.77 (-0.86%)
NCPL 60.47 Increased By ▲ 0.84 (1.41%)
NPL 69.80 Increased By ▲ 1.24 (1.81%)
OGDC 318.48 Decreased By ▼ -0.44 (-0.14%)
PACE 11.12 Increased By ▲ 0.07 (0.63%)
PAEL 42.86 Decreased By ▼ -0.24 (-0.56%)
PIBTL 16.72 Increased By ▲ 0.09 (0.54%)
PPL 230.62 Increased By ▲ 1.17 (0.51%)
PRL 76.73 Increased By ▲ 5.93 (8.38%)
PTC 71.18 Increased By ▲ 0.18 (0.25%)
SSGC 27.10 Decreased By ▼ -0.31 (-1.13%)
TBL 10.28 Decreased By ▼ -0.03 (-0.29%)
TELE 8.56 Increased By ▲ 0.03 (0.35%)
TPL 23.59 Increased By ▲ 0.53 (2.3%)
TPLP 15.45 Decreased By ▼ -0.31 (-1.97%)
TREET 24.51 Decreased By ▼ -0.20 (-0.81%)
TRG 60.09 Decreased By ▼ -0.20 (-0.33%)

India's Congress party moved to shore up its ruling coalition on Sunday after a key partner said its ministers will formally quit the cabinet on Monday, the latest setback for a government beset by corruption scandals.
Prime Minister Manmohan Singh's government is not in immediate threat of collapse because the Dravida Munnetra Kazagham (DMK) party has said it will continue to offer conditional support even after its six ministers leave because of a row over local elections.
The Congress party, in addition, can seek support from other regional groups to boost its numbers in parliament, as few want to face an election more than three years ahead of schedule.
Still, the DMK's decision to quit the cabinet will further hobble the government's ability to push through reforms, as it becomes dependent on new pressure groups for support.
"The Congress has not got in touch with us. DMK Ministers will submit their resignation letters tomorrow," T.R. Baalu, a senior leader of the party said, rejecting reports that the two sides were in talks to mend the alliance. The Congress party made no immediate comment, and local TV stations said top leaders would hold talks with party chief Sonia Gandhi later on Sunday to plan the party's response to the latest crisis.
The coalition has been hit by a string of crises, including corruption scandals, runaway inflation especially food inflation which hit 18 percent in December and an opposition that has blocked its reform agenda.
The scandals have eroded confidence in Singh's ability to effectively lead Asia's third largest economy, and foreign direct investment has fallen even though India remains one of the world's fastest growing economies.
Singh last month said he was not a "lame duck" prime minister, vowing to press forward with the party's reform agenda.
A source in the prime minister's office said there was no threat facing the government following the move by the DMK which had 18 members in India's 545-member lower house of parliament. Political analysts say Congress may approach the northern Samajwadi party, which has 22 MPs, to secure its majority in parliament.
The first test for the alliance will come during the current session of parliament, when the government seeks approval of the 2011-12 federal budget.

Copyright Reuters, 2011

Comments

Comments are closed for this article.