Amarinder prefers route that PC loathes
The Punjab government, controlled by the Congress, on Friday announced strategic sale in profit-making state company Punjab Alkalis.
By TNN |
NEW DELHI: In yet another confirmation that the Congress-led government at the Centre abandoned strategic sale in PSUs only to appease the Left, the Punjab government, controlled by the Congress, on Friday announced strategic sale in profit-making state company Punjab Alkalis.
Punjab���s government leadership today said it will dilute the government equity in the company through strategic sale. The state government, which has a disinvestment commission handling the job, has out several of its companies in the divestment list.
This stand of the Congress government clearly shows that the ���doubts��� about strategic sale are aimed at mollifying the Left parties. The Left parties, the moral guardians of the UPA government, has made it clear that it will not allow sale of equity in profit-making companies. Early this week, this saw the government calling off disinvestment thorough strategic sale in 13 PSUs.
As expected, this gave the opportunity for the BJP to ram in its political point that the Manmohan Singh government has abandoned reforms under pressure from the Left. ���All this shows that the arguments which finance minister Chidambaram and others are putting out are just arguments of convenience. They are acting under compulsion and against their own better judgement. One can only feel sorry for the country because they are succumbing to persons who have presided over 28 years of stagnation in West Bengal. And they have now brought all reforms to a halt,��� said Mr Arun Shourie.
Mr Shourie said the Leftists��� pressure is wreaking havoc in the economy. ���Banking sector reforms, insurance sector reforms, activation the competition commission, labour sector reforms, dilution of the special economic zone legislation... all these are a result of their caving in. Nor should one lay the blame only on the Communists. This pattern also shows that the ���great reformers��� themselves believe in nothing,��� he said.
The action on the disinvestment front in the states is understandable as many of them are caught in a fiscal logjam and they cannot but try to find ways to unburden themselves. Government leaders said six companies have already shown interest in acquiring Punjab Alkalis. A section of the Congress feels the double speak on disinvestment will hurt the party as it will only strengthen the perception that the Left controls the levers of power at the Centre. This, could anger the party���s reform-friendly constituency in the state.
Punjab���s government leadership today said it will dilute the government equity in the company through strategic sale. The state government, which has a disinvestment commission handling the job, has out several of its companies in the divestment list.
This stand of the Congress government clearly shows that the ���doubts��� about strategic sale are aimed at mollifying the Left parties. The Left parties, the moral guardians of the UPA government, has made it clear that it will not allow sale of equity in profit-making companies. Early this week, this saw the government calling off disinvestment thorough strategic sale in 13 PSUs.
As expected, this gave the opportunity for the BJP to ram in its political point that the Manmohan Singh government has abandoned reforms under pressure from the Left. ���All this shows that the arguments which finance minister Chidambaram and others are putting out are just arguments of convenience. They are acting under compulsion and against their own better judgement. One can only feel sorry for the country because they are succumbing to persons who have presided over 28 years of stagnation in West Bengal. And they have now brought all reforms to a halt,��� said Mr Arun Shourie.
Mr Shourie said the Leftists��� pressure is wreaking havoc in the economy. ���Banking sector reforms, insurance sector reforms, activation the competition commission, labour sector reforms, dilution of the special economic zone legislation... all these are a result of their caving in. Nor should one lay the blame only on the Communists. This pattern also shows that the ���great reformers��� themselves believe in nothing,��� he said.
The action on the disinvestment front in the states is understandable as many of them are caught in a fiscal logjam and they cannot but try to find ways to unburden themselves. Government leaders said six companies have already shown interest in acquiring Punjab Alkalis. A section of the Congress feels the double speak on disinvestment will hurt the party as it will only strengthen the perception that the Left controls the levers of power at the Centre. This, could anger the party���s reform-friendly constituency in the state.
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