To Shri Rajiv Gauba Union Cabinet Secretary Dear Shri Gauba, I have cautioned the government several times on the need to strengthen the CPSEs from the point of view of promoting the country’s self-reliance, rather than weaken and privatise them. The way the government has dealt with the Maharatna oil behemoth, the ONGC is a case in point. In particular,[Read More...]
“We must have full control over our electricity production and performance”, said the French Prime Minister recently, when she informed the Parliament of the government’s decision to increase its equity share from the present 83.76% to 100% in the EDF company, France’s premier nuclear electricity utility and one of the largest producers of nuclear electricity in the world. France has[Read More...]
To Smt Nirmala Sitharaman Union Finance Minister Dear Smt Sitharaman, In your Budget speech last year, you had mentioned that the government would privatise a few PSU banks in due course. There are reports on statements originating from your Ministry that the government would introduce a Bill during the coming monsoon session for enabling it to privatise PSU banks in[Read More...]
To Smt Nirmala Sitharaman Union Finance Minister Dear Smt Sitharaman, Your Ministry seems to be rushing into monetisation of assets of the CPSEs without adequate due diligence on the comparative costs and benefits.
The Indian National Congress under the leadership of Prime Minister Mr Rajiv Gandhi was responsible for the beginning of half-hearted liberalisation policies in the name of economic development and modernisation in India. The half-hearted liberalisation, privatisation and globalisation policies have become the cornerstone of new economic policies launched by the Prime Minister Dr Manmohan Singh. These policies are in full[Read More...]
To Shri Rajnath Singh Union Defence Minister Dear Shri Rajnath Singh, Kindly refer to my earlier letter dated 3-2-2022 (https://countercurrents.org/2022/02/should-the-government-disinvest-bem…) raising concerns against the proposed privatisation of Bharat Earth Movers Ltd. (BEML) which is a CPSE under the administrative oversight of your ministry and plays a crucial role in meeting the strategic requirements of the defence forces.
To Smt Nirmala Sitharaman Union Finance Minister Dear Smt Sitharaman, I refer to my earlier letter of May 19, 2022 (http://eassarma.in/sites/default/files/public/Drop-privatisation-forthw…) calling upon your Ministry to drop all further disinvestment proposals, in view of the dubious outcomes of the sale of the CEL and Pawan Hans and the potential fraudulent aspects of the LIC IPO.
To Shri Rajiv Gauba Union Cabinet Secretary Dear Shri Gauba, In the past, I had written to your predecessors and the Ministry of Mines not to divest the government’s share of equity in Hindustan Zinc Ltd. (HZL), keeping in view the strategic nature of Zinc as a scarce mineral.
The plan to marketise the vast infrastructure architecture of the country on the stock market for a windfall gain of Rs.6 lakh crore for the government has predictably agitated the opposition as it amounts to gambling with the ‘family silver’.I have no intention to pose as an expert in public finance as I have not even elementary knowledge of the[Read More...]
The British government’s latest initiative, which could ban local councils, public bodies and student unions across England from boycotting or disinvesting in unethical companies, flies in the face of its rhetoric in support for devolution and local decision-making. On Wed, 17th Feb, Cabinet Secretary Matthew Hancock formally announced the government’s intention to ban local councils across England and Wales from pursuing […]
