More trouble in divestment process

A little over a week after the critical CCD meeting which scuttled the sale of HPCL and BPCL, the disinvestment process suffered yet another...

A little over a week after the critical CCD meeting which scuttled the sale of HPCL and BPCL, the disinvestment process suffered yet another setback8212;Fertiliser Minister S.S. Dhindsa formally opposed the sale of National Fertilisers Limited, and both the Samta Party and the Biju Janata Dal decided to support the bandh called to oppose the privatisation of Nalco. It was opposition of Samta Party leader George Fernandes on Saturday September 7 that scuttled the HPCL and BPCL sale process.

Opposing the NFL sale, Dhindsa told reporters that 8216;public sector enterprises like NFL should not be privatised. NFL is not only making huge profits but occupies a strategic position for its contribution in the fertiliser industry which is so crucial to agriculture.8217; Dhindsa added that if NFL remained in the public sector, it would be able to cushion possible price fluctuations in the prices of agro-nutrients.

Another factor delaying the sale of NFL is the finalisation of the new fertiliser policy, in the making for over a year now. Till the policy is finalised it is to be finalised by Planning Commission deputy chairman K.C. Pant, few bidders are expected to bid aggressively. A PTI report, however, quoted Dhindsa as saying that while the long-term fertiliser policy was likely to be finalised very soon, 8216;my views against NFL8217;s privatisation remain unchanged.8217;

In a parallel move, the Biju Janata Dal and the Samata Party extended their support to the September 19 statewide bandh called by various trade unions affiliated to non-BJP parties to oppose disinvestment in Nalco.

BJD vice-president Prafulla Chandra Ghadei and secretary general Damodar Rout said the party would not compromise on the issue and bjd would remain in the forefront of the agitation against the decision.

Extending the party8217;s support to the dawn-to-dusk bandh call, Samata Party8217;s Orissa unit chief Bhabani Shankar Hota said 8220;it is a matter of great satisfaction that the ruling bjd is also supporting the bandh8221;.

Criticising the move to privatise the profit-making psu, trade unions like aituc, citu, hms, intuc, aicctu and utuc Lenin Sarani adopted a resolution to call the bandh.