Naveen urges Manmohan to reconsider NALCO disinvestment

Bhubaneswar, June 22 (UNI) Orissa Chief Minister Naveen Patnaik today urged Prime Minister Manmohan Singh to reconsider the disinvestment of National Aluminium Company (NALCO) following widespread discontent in the state against such proposal of the Centre.

In a letter to the Prime Minister, Mr Patnaik said NALCO had been considered as a symbol of Orissa's pride and any divestment of this profit-making major central PSU with headquarters in Orissa was bound to generate a lot of discontent among the people.

The Chief Minister said he was very much concerned that the Cabinet had taken a decision to offload 10 per cent of its equity to generate resources for reconstruction of central sector PSUs.

Mr Patnaik said the NALCO's performance had been excellent in terms of its profit and export by any parameter, adding the company could generate sufficient fund to meet the needs of its own expansion and other industrial activities.

He said since there had been widespread discontent against the Centre's decision, the proposal of the Centre to offload 10 per cent of equity be given a second thought and the NALCO be allowed to undertake the expansion work from its own internal resources.

UNI DP SJC MIR DB2059