No Dichotomy In Left Fronts Approach To FDI

Kolkata, Sept 29 | Updated: Sep 30 2004, 05:30am hrs
There is no dichotomy in the Left Fronts approach on FDI as proposed by the Central government in certain sectors. Barring some differences over PSUs, bifurcation of states and labour laws, there was no disagreement over the CMP.

West Bengal chief minister and CPI(M) politburo member Buddhadeb Bhatt-acharjee said, We are open to FDI in greenfield projects and I am trying my best to attract investment from within the country and outside. There is no dichotomy in our approach.

Mr Bhattacharjee was speaking at the 117th annual general meeting of Bengal National Chamber of Commerce and Industry.

Mr Bhattacharya said that during his meetings with Prime Minister Manmohan Singh, the PM had talked about the agriculture sector as well as labour laws and PSUs. I gathered that he is seriously trying to understand the problem of the country and trying to perform, he said.

He said, We feel that central PSUs are making profit and are the backbone of the countrys economy. Therefore we are opposed to disinvestment of companies like ONGC and FDI in telecom, he said.

However, the situation with state PSUs is different. We have 56 PSUs and all are in bad shape. he said they were set up by private parties and taken over by the government at the request of unions after they became sick. Now, the state government was trying to restructure them with the help of DFID, and a scheme charted by PriceWaterhouseCoopers.