Disinvestment decision against CMP, says Forward Bloc

New Delhi, June 22 (UNI) The All India Forward Bloc(AIFB) today expressed its strong disapproval of the Government decision to disinvest ten per cent of its equity each in non-Navratna Public sectors National Aluminium Company (NALCO) and Neyveli Lignite Corporation Ltd.

''The decision is against the letter and spirit of the Common Minimum Programme(CMP),'' secretary of the (AIFB) G Devarajan said in a statement here.

He pointed out that the CMP clearly says that the profit making PSus will not be sold. '' To set up an investment fund through disinvestment is bad economics,'' he added.

Mr Devarajan also criticised the decision to import wheat, sugar and pulses through private agencies and companies and stressed the need of government agencies like the State Trading Corporation(STCs) should interfere in the market and public distribution system should be strengthened.

He said the AIFB will raise these issues in the UPA-Left coordination meeting and Parliament.

The disinvestment decision, taken at the Cabinet Committee on Economic Affairs meeting this morning, will reduced the government holding in Nalco to 77.15 per cent and in Neyveli Lignite to 83.56 per cent.

UNI NAZ MIR KN2130