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This is an archive article published on May 27, 2005

Left sees red in sale of BHEL shares

Claiming that they were not consulted on the issue, the Left today charged that the 10 per cent sale of government equity in BHEL amounted t...

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Claiming that they were not consulted on the issue, the Left today charged that the 10 per cent sale of government equity in BHEL amounted to a ‘‘breach of trust’’, as the common minimum programme did not have any room for the disinvestment of a Navratna.

But as the block complained that this was the ‘‘beginning of privatising profit-making PSUs through the backdoor’’, it is a fact that another Navratna, the National Thermal Power Corporation, was disinvested last year. When asked, AITUC leader Gurudas Dasgupta said: ‘‘NTPC may be a Navratna but you cannot compare it to BHEL which is an internationally-acclaimed public sector company.’’

‘‘In light of the commitments made in the National Common Minimum Programme, the CPI(M) considers this Cabinet decision to be directly contradictory,’’ the politburo said in a statement.

Dasgupta also sent a letter to the PM, saying that the Left was ‘‘strongly opposed to the decision’’.

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