|
|
|
SJM up in arms against sale of Air India, BSNL, BPCL
|
|
|
|
Top Stories |
 |
|
|
|
SME Times News Bureau | 02 Dec, 2019
Coming out in strong opposition to the PSU disinvestment programme of
the Modi government for companies like Air India, BSNL and BPCL, RSS
affiliate, Swadeshi Jagran Manch (SJM) has slammed the move, saying that
"strategic sales can be misused by corrupt officials to benefit special
business houses".
The SJM's national committee has passed a resolution opposing the strategic sale of these PSUs.
"India
should not sell its national assets to multinationals. The present plan
of disinvestment is the result of conspiracies of some consultants,
bureaucrats affected by some business houses," it said.
The SJM
has demanded that the NITI Aayog's report on public sector enterprises
should be rejected, and stressed the "need to examine the evaluation of
PSEs keeping in mind the idea of doubling GDP in the next five years and
accelerating it in the respective years".
"This report is the
work of vested interests of some advisors, they should be kept away from
this work. The new report should be created with a new set of people
who are not only free from prior assumptions, but have open views to
consider Indian needs," the resolution said.
The SJM also
expressed the view that that doing business is not the business of the
government, but in the name of disinvestment, "we oppose the scheme of
handing over national assets to multinational corporations and corporate
houses".
On the sale of BPCL, SJM said that Saudi Aramco is
eyeing its assets after India announced divestment of the oil marketing
company.
"This is not only unacceptable but also dangerous.
Property created with national sentiments and hard work should not be
held in the possession of foreign oil companies. The purchase of BPCL
will only be a number for them to increase their wealth. Strategic sales
are becoming strategic purchases for multinationals," the RSS affiliate
said, strongly condemning the government policy.
The resolution
emphasised that there are many PSUs like Air India, and BSNL which are
necessary for the strategic needs of the country. These PSUs can be
improved again and efforts need to be made to accomplish this, it urged.
The
SJM, which claimed its pushback as a reason for the government
backtracking on the RCEP trade deal, said that there is a need for a
large public deliberation and debate on the ways and timing of selling
government equity.
It said the government should not fall into
the Washington consensus trap and look for long-term solutions rather
than selling equity to some corporate houses or multinationals.
SJM
said that calling Air India a bad asset "is indeed painful and unfair".
A developing country like India needs a national carrier keeping in
mind the strategic and market balancing requirements, it added.
Similarly,
the RSS affiliate said the strategic sales of the Shipping Corporation
of India and the Container Corporation of India are also not prudent
business decisions. Both these enterprises are not only in a much better
shape, but are also necessary to implement the government's plan to
further accelerate logistics for Indian industries, it said.
Attacking
the Modi government policy on divestment, the SJM said collecting money
by selling ownership and giving up future lifetime earnings will not be
a wise business decision, especially when the government is saying that
their tax collection is not meeting the target.
The resolution
pointed out that a recent statement by Finance Minister Nirmala
Sitharaman indicated that the government is going to mop up Rs 1 lakh
crore by selling its equity in five PSUs. The government has already
prepared another 28 PSUs, their subsidiaries and joint ventures for
disinvestment.
The list includes the strategically important
Hindustan Aeronautical Ltd (HAL), Pawan Hans, and the Rural
Electrification Corporation (REC).
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 08 Dec, 2019 |
|
|
Daily Poll |
 |
 |
Ease of doing business improved in last one year |
|
|
|
|
|
Commented Stories |
 |
|
|
|
|
|
|
|