NEW DELHI, DEC 20: Disinvestment Minister Arun Shourie on Wednesday assured the Lok Sabha of total transparency in divestment of public sector undertakings but did not commit to a white paper on it as demanded by the Opposition.Winding up a two-day debate on PSU disinvestment, Shourie said he has written to the Comptroller and Auditor General (CAG) of India to examine the disinvestment documents of his ministry in order to ensure that there is no doubt in public mind as regards the procedures followed. The CAG has agreed to it, he disclosed.Expressing his inability to disclose all information before the bidding process, Shourie said it was not possible to do so as it would harm the country's interests. MNCs begin to gang up and cartelisation follows. As a result the country may not be able to get a good price, he added.As for the Congress (I) demand for a separate parliamentary standing committee on disinvestment, Shourie said it was the decision of the Speaker. In any case, he said, the parliamentary standing committee on finance oversees disinvestment too.Denying differences over disinvestment within the council of ministers, Shourie said all the concerned ministers were taken into complete confidence in taking any decision regarding their area. Pointing towards civil aviation minister Sharad Yadav and heavy industry minister Manohar Joshi, both of whom were present in the house, Shourie said they were part and parcel of the disinvestment process. Even in case of Petroleum Minister Ram Naik, he said, there were no differences. Yadav, in fact, devised several formula for disinvestment of Air India and Indian Airlines, Shourie told the members many of whom had referred to such "differences".As regards the use of the proceeds from PSU disinvestment, Shourie said they would first be deposited with the consolidated fund of India. It was, then, for the government to decide about their allocation on various heads. Several speakers, including Mani Shanker Aiyar (Cong), Rashid Alvi (BSP), P.H.Pandian (AIADMK) and others had expressed the apprehension that the proceeds would be utilised merely to bridge the fiscal deficit of the government.Shourie admitted that valuation of PSUs was of utmost importance. He assured members in this connection that his department's effort would be to get the best price after proper valuation. He defended the valuation of Modern Foods on which several members had pointed accusing fingers towards the government.Rejecting the demand for a white paper, Shourie pointed towards disinvestment exercise undertaken by several Congress (I) ruled states like Karnataka and Madhya Pradesh and said they too had not come out with any white paper. The Opposition members took serious exception to it and trooped out of the house saying the minister had failed to reply to their points.Concluding his reply, Shourie reiterated that he would adopt a "clear, transparent and open policy" on disinvestment.In a forceful speech, Mani Shanker Aiyar (Cong) said it was a myth that the PSUs were a drain on country's resources. Reeling out statistics from various reports, including the latest report from SCOPE, Aiyer said the PSUs had, in fact, contributed handsomely to the exchequer. He blamed the government for having no integrated strategy or a clear road map on disinvestment and demanded a white paper on it.Members who were also critical of the government included Sudip Bandopadhyaya (Trinamul Congress) and Anant Rao Adsul (Shiv Sena), both allies of the government.
