Letters to the editor

By: | Published: November 12, 2014 12:40 AM

Apropos of your recent edit “Welcome new PSU plan...

Get cracking on defaulters
Apropos of your recent edit “Welcome new PSU plan”, there has to be full support for the privatisation or even a 100% stake sale for loss-making PSUs and these majors have to be made a priority. This would reduce a great burden on the country. Loss-making PSUs are promoted mainly through liberal sanction of loans on a competitive basis instead of verifying the repayment/production ability of these organisations. This trend amounts to misuse of public money. In an ideal condition, there should be no defaulters/loss. This is my view and if defaulters are existing, at least their presence is required. there are many defaulters who are absconding also. This shows the inability or greatness of banks in their operation and some bank people may be hand-in-glove with defaulters too.
BS Ganesh, Bangalore

Pay farmers and banks
It has been argued that UP’s sugarcane farmers shouldn’t have the right of first lien in the bailout package for the sugar industry. Instead, the banks should get money so that the mills stay credit-worthy. But it is a Catch-22 situation because just as credit is necessary, cane is too!
Sumona Pal, Kolkata

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The Editor,The Financial Express, 9&10 Bahadur Shah Zafar Marg, New Delhi-110 002
or e-mail at: feletters@expressindia.com or fax at Delhi: 91-11-23702044

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