Financial Daily from THE HINDU group of publications
Monday, Jun 27, 2005

News
Features
Stocks
Port Info
Archives
Google

Group Sites

Home Page - Politics
Industry & Economy - Disinvestment


Left parties not to attend coordination meetings

Our Bureau

New Delhi , June 26

THE Left parties on Sunday decided not to participate in the UPA-Left coordination committee meetings to protest the Government's decision to go ahead with disinvestment in Bharat Heavy Electricals Ltd (BHEL) and other profit-making public sector undertakings (PSUs).

The Left Party leaders, following a meeting of representatives from CPI (M), CPI, Revolutionary Socialist Party (RSP) and All India Forward Bloc, have communicated a decision to this effect to the UPA (United Progressive Alliance) Chairperson, Ms Sonia Gandhi, the CPI (M) General Secretary, Mr Prakash Karat, told reporters here.

The Left leaders have said in the letter that the UPA Government's decision on BHEL was the "first serious violation of the CMP (Common Minimum Programme)" and the UPA-Left Coordination Committee, despite having discussed the matter, had been unable to ensure the Government's adherence to the CMP commitment.

"No useful purpose will be served in attending meetings of the Coordination Committee.

"Therefore, we have decided to regretfully suspend our participation in the coordination committee," Mr Karat told reporters here.

He said that despite repeated meetings with the UPA on the issue of disinvestment, the Government has been saying it will disinvest up to 49 per cent in PSUs, while retaining 51 per cent equity.

The letter was signed by Mr Karat, Mr A. B. Bardan (CPI), Mr Debrata Biswas (Forward Bloc) and Mr Abani Roy (RSP).

On being queried whether the UPA Government would last its full term in the wake of differences with the Left, Mr Karat merely said, "ask them."

CPI's Mr Bardhan said the Left parties feared the Government was not only intending to disinvest in BHEL, but also in NTPC, ONGC and other profit-making PSUs.

"We cannot understand or accept this interpretation of difference between 51 per cent and 49 per cent disinvestment," Mr Bardhan said, adding that any change in the equity structure could alter the character of the PSUs.

The Left parties have also worked out their strategy for agitation against the recent hike in petrol and diesel prices by the Government and have announced a nationwide protest against the decision on June 28.

According to Left Party representatives, the Government's decision to hike the fuel prices, especially diesel prices, was not in tune with the CMP.

The Congress Party, however, did not offer any immediate comment on the decision of Left parties to suspend participation in UPA-Left Coordination Committee meetings to protest the Government's decision to go ahead with disinvestment in BHEL and other PSUs.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page


Punjab National Bank ICICI BANK

Stories in this Section
More security breaches in US, says Forrester


Anil Ambani assumes charge at Infocomm, reconstitutes board
$12-b chip unit coming up in AP
Left parties not to attend coordination meetings
LNG from Iran: Deal depends on access to liquefaction tech
Indices may head north, thanks to funds from East
`Temping' on the rise; recruiters seek changes in law
Finance Ministry, RBI differ on FDI in asset reconstruction cos
Punitive liabilities for data theft, loss — BPOs faced with higher insurance premiums
Trade council set up to involve States in export efforts


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line