Strategic Disinvestment not in National Interest

 

 

 

 

Haridwar: The 14th National Assembly of Swadeshi Jagran Manch (SJM) that met from November 29 to December 1, 2019 here said strategic disinvestment of Public Sector Enterprises (PSEs) is not in the national interest. “The decision not only denies the people of India, the real owners of PSEs, the fair value of the assets and capital investments, but it also brings in unfair advantage for those who intend to buy. The SJM do believe that the government has no business to be in business, but resist the plan to hand over the national assets to corporate houses of multinational corporations at throwaway prices,” the resolution passed at the meeting said.

 

 

The Rashtriya Sabha demanded that the NITI Aayog’s report on PSEs must be junked. “There is a need for a fresh assessment of the value and worth of PSEs keeping in mind the vision of doubling the GDP in next five years and accelerating it further in corresponding years. The report is handiwork of a few consultants (who continue to work on game plan of vested interests), they should be kept away. The new report should be made with a new set of people, who are not only free from the pre-conceived notions but also open to considering the Indian requirements. The SJM also demanded comprehensive PSE policy which defines the role of these enterprises.

 

 

The SJM said there are many PSEs like Air India, BSNL etc. which are required for the strategic needs of the country. These PSUs can also be turned around. The efforts need to be made to make it happen. A national debate on the disinvestment in the profitable PSEs is the need of the hour. A white paper is needed on the previous disinvestment of HPCL, where ONGC acquired the equity. How this has benefited the operations of HPCL? The government must explain the benefits BPCL will get after its privatisation. There are cases of ‘conflict of interest’ and formation of clique to capture India’s assets. There is a need to probe the way consultants are been appointed to advise the government and subsequently to assist them to offload the equities, the resolution added.