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Crack within: RSS-affiliate SJP opposes sale of PSEs

By IndianMandarins- 02 Dec 2019


On one hand the Modi government is trying to infuse more liquidity into the market by trying to disinvest some of the PSUs on the other one of the affiliate organizations of the Rashtriya Swayamsevak Sangh – Swadeshi Jagran Manch -- is opposed to sale of PSEs including of the BPCL.

This is to recall that the Modi government had to surrender its reforms agenda particularly Land Acquisition bill, in the face of opposition from within the Sangh Parivar five year ago. The government is facing renewed resistance from SJM on privatising PSEs.

The government has proposed strategic sale in PSEs including in profit-making BPCL, to meet its disinvestment target, which would help shore up GST shortfalls and manage the mounting fiscal deficit. The SJM is of the view that the Modi government’s proposed strategic disinvestment of PSEs was an “imprudent business decision” and “against national interest”.

The SJM demanded a white paper on the previous disinvestment of HPCL, where ONGC acquired the equity. How has this benefited the operations of HPCL. Not just SJM, but the Congress, TMC and Left parties opposed privatisation and disinvestment of 28 PSEs.

On the strategic sale in BPCL, it said rumours are doing rounds that the Saudi Aramco is eyeing these assets. “This is not only unacceptable but also dangerous. The asset created with the national sentiments and hard work shouldn’t land up in the lap of the foreign oil companies — who see these assets only as a statistic to swell their valuation,” the SJM said.

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