Finance Ministry bars ministries & departments from issuing ‘Letters of Comfort’

Finance Ministry bars ministries & departments from issuing ‘Letters of Comfort’

The finance ministry has said ministries and departments can no longer issue a ‘Letter of Comfort’ to any entity, a measure that is aimed at bringing further transparency in fiscal matters and budgeting. The ministry had permitted ministries and departments to issue such ‘Letters of Comfort’ in 2017. A letter of comfort issued by a … Read more

Biden Invokes Cold War Statute to Boost Critical Mineral Supply

Biden Invokes Cold War Statute to Boost Critical Mineral Supply

WASHINGTON — President Biden on Thursday took steps to try and increase domestic production of critical minerals needed for advanced technologies like electric vehicles, in an attempt to reduce America’s reliance on foreign suppliers. Mr. Biden invoked the Defense Production Act, a move that will give the government more avenues to provide support for the … Read more