Reverse decision to divest PSU stakes: Left to Govt

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Posted: Friday, Nov 06, 2009 at 1404 hrs IST
Updated: Friday, Nov 06, 2009 at 1404 hrs IST

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New Delhi: Left parties demanded cancellation of the government's decision to divest up to 10 per cent of its shares in profitable public sector units, calling it a "patently anti-national step".

"(With this) the Congress-led government has laid out a road map for the privatisation of the public sector units as it will require only a small step to bring down the government stake to a minority, that is below 50 per cent," the four Left parties in a joint statement.

Calling government's plea that the funds received out of disinvestment would be used for social sector programmes an "eyewash", the CPI(M), CPI, RSP and Forward Bloc said it had gone back on previous commitments of not divesting 'Navaratna' companies.

They said the government was undertaking this measure under the "fraudulent pretext" of ensuring 'people's participation' in the public sector. Further, the government has "committed not to utilise the corpus accruing through the sale of shares in the National Investment Fund, only the interest on the funds were to be utilised."

"Now with a sleight of hand this has been suspended for three years so that the proceeds from disinvestment can be utilised for meeting the fiscal deficit. The plea that this fund will be utilised for social sector programmes is an eyewash," the four parties said.

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» PSU Disinvestment

Posted by Laxmidhar N Bhola on 2009-11-09 15:30:01.20103+05:30
The CPI(M), CPI, RSP and Forward Bloc, they are confused lot in the name of SOCIALISM.They are fooling poor people or rich people with poor knowledge about 'economy and politics'! If PSUs are built by public money, where is the question of doing something against the public.This is simple economics. And in case these parties insist more clarity, Dr Singh should apply visa for their Russian Visit, and they can get first hand knowledge 'why Russian President recently decided to offload Govt stake in major PSU in that country'!.This is economics by common sense. The stupid phase of Indian Politics is that'in a democratic set up some still accept Communism as a source to bring justice to social equality-which was a blind spot in China and Russia,and what they are doing today 'following a cocktail model to match present reality for survival.

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» Disinvestment

Posted by Sayeeda Misha Qureshi on 2009-11-07 20:25:26.083947+05:30
All PSUs in India must be privatised & the realisation used for building infrastructure of the country. It is ridiculous that the Govt. of India runs hotels, steel plants, Aluminium plants, runs shipping companies etc. using tax payer money. We can build a world class India with the thousands of crores of rupees realised by selling the PSUs. It is a ludicrous idea that a Govt. has to run a company. The leftists also believe this secretly. Can they deny that Buddhadeb Babu is privatising all state govt. run companies in leftist run West Bengal? Why don't they lecture Buddhadeb's Govt. there before lecturing Manmohan Singh against privatisation? We all know about the duplicity of the leftists.

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» 10% Divestment

Posted by M.S.Kamath on 2009-11-07 18:45:02.410551+05:30
Budget deficit is very large. Most of it is caused by vast investment in social sector projects. In fact , there should be more divestment to cover the huge deficit. Left parties should learn to manage their states better, to convince people of their view point. They are living in the past.

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» Disinvestment

Posted by Abhijit Guha on 2009-11-07 09:08:11.932722+05:30
The Government has taken the right decision to sell its stake in the PSUs. Ultimately it must bring its stake below 50% as it is not the job of the Government to directly run a company. Its not necessary to listen to the hypocrite leftists. The leftists themselves are privatising state Government run industries in the Marxist bastion of West Bengal. These hypocrites privatise in West Bengal while oppose privatisation in the centre.Privatisation og PSUs is for the greater goodof the country & the Government must walk in that direction.

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Reverse decision to divest PSU stakes: Left to Govt

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