Ramadoss opposes NLC disinvestment

Chennai, June 23 (UNI) Pattali Makkal Katchi (PMK) founder leader Dr S Ramadoss, whose party is a constituent of the Congress-led UPA government at the Centre, today opposed the latter's decision to disinvest ten per cent equity in Neyveli Lignite Corporation (NLC).

Urging the Centre not to go ahead with this, Dr Ramadoss said in a statement here the Centre should not deviate from basic principles of not disinvesting equity in profit making public sector undertakings.

On the Centre's argument that the disinvestment of ten per cent equity in NLC would fetch it Rs 1107 crore, he said it should not be forgotten that NLC earned Rs 702 crore profit during 2005-06.

The government should not consider that its decision not to divest applied only to 'navaratna' PSUs and not to non-navaratna PSUs.

''The centre should not disinvest its equity in any of the profit making PSUs and it should be firm on this,'' Dr Ramadoss said, adding his party would take up the issue in Parliament.

Marumalarchi DMK General secretary Vaiko also urged the Centre to desist from disinvesting its equity in NLC. In a statement here, Mr Vaiko said it was regrettable that Finance Minister P Chidambaram was evincing undue interest in disinvesting government equity in the ''miniratna'' NLC, which was making profits year after year.

He said when the Centre made a similar move earlier, he had brought it to the notice of Prime Minister Manmohan Singh, who had assured him that he would instruct Mr Chidambaram to drop the move.

Contrary to the assurance, the Centre had now decided to disinvest 10 per cent of equity, which deserved to be condemned, he said.

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