Plea to stop move to disinvest 49 pc equity in BALCO

By Staff
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Google Oneindia News

New Delhi, Mar 20 (UNI) Members in the Lok Sabha today alleged that the Government's decision to disinvest the remaining 49 per cent equity in the public sector underaking BALCO would entail a loss of Rs 9,000 crore to the exchequer, and called for stopping the move.

Raising matters of urgent public importance, Prof Ram Gopal Yadav (SP) said 51 per cent of equity in BALCO in Korba, Chhattisgarh, had been disinvested during the NDA regime. The remaining equity was now being sought to be disinvested by undervaluing the national property. This would result in a scam amounting to Rs 9,000 crore.

The Finance Ministry was seeking to rush through the deal to sell off the national property at a throwaway price, he claimed adding the share amounting to Rs 1000 was being sought to be sold for Rs 77.

Mr Devendra Prasad Yadav (RJD) and Mr Prabhunath Singh (JD-U) echoed the feelings of Mr Yadav saying it was a serious issue involving sale of national property cheaply, causing a loss to the national exchequer. They demanded that the Government should make a statement on the issue, saying it was a serious development in the financial sector.

UNI YS MSJ GC1624

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