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Conflicting signals on disinvestment |
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Conflicting signals are coming from the Government on whether it will stick to its disinvestment policy, the latest example of which was a decision to sell 10 per cent stake in National Aluminum Company, NALCO, and Neyveli Lignite Corporation (NLC). One report says that the Left has virtually accepted defeat on the issue of persuading the government to give up its disinvestment policy and is unlikely to go beyond routine protests. Prime Minister Manmohan Singh is reported to have conveyed the Government’s determination to continue the process when a Left leader called on him on June 28. Left parties know that disinvestment is one issue where convergence of view with the Government is impossible. They have called a meeting today, July 3, to announce supporting trade union protests against disinvestment.
On the other hand, Minister of State for Commerce Jairam Ramesh said in Bhubaneshwar on July 1 that there was a proposal that the Rs. 1400 crore which the UPA Government wanted to get through by 10 per cent stake sale in NALCO for social sector could be got from the company’s reserve fund. He said NALCO could also be asked to raise its dividend pay off to the Government.
There are reports that the Government is drawing up the list of economic reforms which will not be subject to a veto from the Left parties. Reports say that the Government is preparing to negotiate with the Left parties on the matter. The political negotiations with the Left parties will involve Defence Minister Pranab Mukherjee. The negotiations are likely to centre on the financial sector, health, agriculture, food management, labour and banking reforms.
In Tamil Nadu, Chief Minister M. Karunanidhi has come out in support of agitating workers of NLC who are opposing the Centre’s disinvestment move. All leading political parties of the state including the ruling DMK and its allies, the PMK, and the Opposition All India Anna DMK, MDMK and DMDK are opposing the sell off decision.
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