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The policy of disinvestment is going through strange twists and turns. One day we hear the Prime Minister and the Finance Minister announcing that a certain public sector company will be disinvested. Left parties and others protest, and the progressive measure is put on hold or withdrawn.

The Left parties' stand is that they are not opposed to disinvestment, only to profit-making companies being sold off.

But common sense says there will be hardly any buyers for loss-making companies, either from financial institutions or from the general public.

The Prime Minister has given in to the threat of the DMK pulling out of the Central Cabinet on the NLC divestment issue, and put the proposal on hold. The country's progress should be the main agenda of the ruling party/coalition and should not be held to ransom by politicians with vested interests.

K. Venkataraman

Mumbai

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

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