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This refers to the article `Why privatisation is failing in India', (Business Line, June 03). The process of disinvestment in India, in some cases, has been miserable because it has been difficult to find private bidders who are confident of restructuring the enterprise.

Privatisation has been successful in China because the proceeds of disinvestments go to the enterprises, unlike India, where the Government intends crediting them to a separate fund earmarked for social welfare purposes. This fails to provide the necessary incentive to attract buyers.

S. Sairam

Chennai

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