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Our Bureau

New Delhi, Feb. 8

Even as the Finance Minister Mr P. Chidambaram claimed that the Left parties were consulted before reinitiating disinvestment, the CPI(M) termed the exercise "uncalled for" and the CPI said the move would lead to disinvestment.

The CPI(M) Polit Bureau, in a written statement on Thursday, said the "Government should stop the practice of riding piggyback on IPOs issued by public sector companies.'' "The CPI(M) calls upon the Government not to proceed with the disinvestment of shares along with the IPOs," the statement said.

The CPI, on the other hand, was more critical as it said the decision to issue IPOs would lead to disinvestment even though it was not a direct process. "This is dilution of Government equity and it will lead to disinvestment," the General Secretary of the CPI, Mr A.B. Bardhan, said.

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