Shourie takes up disinvestment issue with FM

On Wednesday, the FM listed out seven instances under the strategic sales route adopted by the NDA government to disinvest shares in PSUs that “raise more questions than it answers”.

Countering the transparency issue, Shourie cited the Supreme Court judgement on Balco, which had upheld the procedure adopted for its strategic disinvestment.

He said the apex court ruled that “the system which was evolved was completely transparent.’’ “Transparency does not mean the conducting of the government business while sitting on the cross-roads in public…To say that there has been lack of transparency under these circumstances is uncharitable and without any basis.’’

Shourie said the NDA government‘s disinvestment process “was completely transparent” and bids were awarded through international competitive bidding.

Referring to the case of Maruti, Shourie said, “We got Rs 1,000 crore as control premium from Suzuki even though the previous government had given them majority control.’’

Shourie listed out the failures of this government in ushering in reforms including the petroleum sector where it is yet to revise the price of petroleum products in line with international prices.

He was amused that the government continues to chant that “we are committed to reforms” when “reforms in insurance, labour, competition law, SEZ law had stopped”.