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Monday, Oct 07, 2002

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Opinion - Letters


The editorial "Politics of disinvestments" (Business Line, October 4) has come out strongly saying that "those opposed to privatisation had better make up their minds if they are for or against disinvestments". The question is between strategic sale and public offer. And it is a good sign that the Prime Minister, Mr Atal Bihari Vajpayee, has himself taken up the matter.

Public sale could create millions of new shareholders. If small investors could not subscribe completely, the balance could be sold by strategic sale. In any case, it is possible to arrive at a studied consensus in the matter.

It is also necessary to remove the impression that the pressures of the IMF or World Bank or WTO alone guide us in the matter. We have to make it clear to the public that divestment of public sector entities is in our own interests and will benefit the people.

A. Jacob Sahayam


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