SJM to govt: Halt sale of 5 PSUs, it is imprudent'

New Delhi: Joining the Opposition parties’ chorus of protest against the Narendra Modi government’s move for strategic disinvestment of major public sector enterprises, the Swadeshi Jagran Manch (SJM), an affiliate of the RSS, on Sunday it as “an imprudent business decision” and also against the national interest. The Opposition had raised this in the ongoing Winter Session of Parliament.

“The strategic disinvestment of PSEs is not only an imprudent business decision, but is also against the national interest. It not only denies the people of India — the real owners of the 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 believes that the government has no business to be in business, but resists the plan to hand over the national assets to corporate houses or multinational corporations (MNCs) at throwaway prices,” reads the resolution passed at the SJM’s national assembly meeting in Hardwar. The SJM has been consistent in its opposition to the disinvestment of public sector undertakings.

Terming the Niti Aayog report on PSEs the “handwork of a few consultants — who continue to work on the gameplan of vested interests” — the RSS affiliate has demanded that the report should be “junked”. Instead, it said, a fresh assessment of the value and worth of PSEs, keeping in mind the vision of doubling the GDP in the next five years and accelerating it further in later years — should be conducted. The SJM has also demanded a comprehensive PSE policy and insisted that PSEs like Air India, BSNL and others, which are required for the strategic needs of the country, can also be turned around.

Asserting that there are cases of “conflict of interest” and “formation of cliques to capture India’s assets”, the SJM demanded a probe into the way consultants are appointed to advise the government in these matters and to “assist them to offload the equities”.

“A national debate on disinvestment in 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 has this benefited HPCL’s operations? The government must explain the benefits which BPCL will get after its privatisation,” the resolution reads.

The government had recently decided to effect the strategic disinvestment of government shareholdings in five public sector enterprises, along with management control —Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India, Container Corporation of India, Tehri Hydro Power Development Corporation and North Eastern Electric Power Corporation Ltd.