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This is with reference to "HPCL/BPCL privatisation: The SC Verdict and after" (Business Line, September 21). The Supreme Court verdict should be taken as an opportunity, rather than as an set-back, to pause and rethink over the need for privatising HPCL/BPCL.

True, the delay in selling the two oil companies will make the government's effort to reduce the fiscal deficit difficult.

But the Centre should explore other possibilities to reduce the fiscal deficit instead of sticking to the privatisation of HPCL/BPCL, and other such profit-generating companies.

Moreover, from the public point of view, privatisation of the oil companies will empower the private owners to exploit and exercise undue control over the retail market. This can have negative effects.

Instead, the Centre should think of mobilising funds by scrapping the MPs Local Area Development Scheme which does little to create income yielding durable assets.

C. Ramesh,

Keeramangalam (TN)

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