• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

I read with interest the article `Disinvestment in Danger' (Business Line, October 14). The author has analysed well the issues involved in the process of disinvestment of public enterprises.

I feel that the Government has framed the disinvestment policy without intensive discussions with political parties and stakeholders. It is presumed that the overall objective of the Government is to achieve economic stability through, among other means, better fiscal deficit management.

The Government should not dispose of its valuable long-term assets for short-term gains. What should be attempted is, the disposal of the non-productive and less productive assets of the public sector, which are a big drain on the exchequer. It may be argued that in doing so the Government will only be disposing of junk and will not get enough to balance its budget deficits. But even then, the Government would be disposing of its non-performing assets rather than the excellently performing ones.

The Government's move to appeal to the Supreme Court for review of its judgment in the BPCL and HPCL disinvestment is not desirable. The decision should be taken as an opportunity to re-evaluate its total disinvestment policy rather than an as an instance of interference of judiciary in the domain of the executive.

G. Venkataraman

New Delhi

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

Article E-Mail :: Comment :: Syndication

Stories in this Section
Confusion continued

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line