From Our Bureau
NEW DELHI: Dubbing the ruling BJP as a ‘Beche Jao Party’ with reckless privatisation by its government, the Congress on Tuesday slammed the government’s plans to put India on sale posing high risks to the Indian economy and the people, expressing concern at complete exit of the public sector banks with dangerous repercussions.
Its spokesperson Supriya Srinate told a Press conference here that the BJP wants to hand over land parcels to Modi’s crony capitalist friends and the public sector banks are actually agents of social empowerment lending to sectors like agriculture and small industries that the private banks shy away from.
“But this fire sale of strategic and profit making assets built over the last 75 years raises some serious questions. What is the explanation for the disastrous IPO of LIC with losses of over $18 billion-almost one third of its valuation,” she asked.
She pointed out how the government was forced to halt reckless sales of 4 PSUs in the last two months: BPCL deferred as 2-3 investors withdrew, sale of Pawan Hans after 51% stakes were sold to a company that failed to honour a previous bid for an insolvent company, Central Electronics severely undervalued and 100% equity sold to a financial company having links to BJP politicians and now on hold after two bidders turned out to be related parties and the latest sale of Container Corporation of India (CONCOR), an Indian Railways unit, put on hold after the Congress exposed the backdoor deal to hand over Railways’ land acquired from farmers at concessional rates or free of cost.
Shrinate said the real objective of the PSU sale was to allow land grab by the private companies, three of which delayed on the issue of the valuation of land. She said CONCOR has land around railway stations, Shipping Corporation of India has land in Maharashtra especially Mumbai) while Bharat Earth Movers (land in WB and Karnataka).
She also noted doublespeak of the government, promising 10% jobs to Agniveers in PSUs after four years of service while on the other hand it is accelarating sale of the PSUs. It has sold 41 Ordnance factories, weakened DRDO and even selling large and strategic defence PSUs like Bharat Earth Movers and Bharat Electricals Ltd, all makers of modern India.
###
