Financial Daily from THE HINDU group of publications
Tuesday, Sep 03, 2002

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Mid-life crisis

It is reported that the Defence Minister and the Petroleum Minister have expressed their concerns over the disinvestment of the two oil companies from security and strategic angles. Their arguments, it appears, need oiling.

If only Mr George Fernandes would look into his own domain, it will not escape his attention that the Vehicle Factory set up to end private monopolies by Krishna Menon in the early 1960s, is now merely functioning as the handmaiden of the two private sector auto giants. Despite ambiguous public posturing by him on the question of privatisation of Defence production, the implementation of FDI's policy announcement in the Defence sector has not been halted.

R. Sundaram


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