• search

Chambers regret holding disinvestment; call for speedy decision

Written by: Staff

New Delhi, July 6 (UNI) Expressing concern over the holding back of disinvestment in Nevyeli Lignite Corporation, the business chambers today urged a speedy decision on the process.

''The limited disinvestment of government equity in profit making Nevyeli Lignite Corp should have been effected as per schedule, as it would not have created a social unrest,'' ASSOCHAM President Anil K Agarwal said.

He said disinvestment in profit making companies is the reality of the day as the government needs revenue to contain its fiscal deficit and also needs resource generation for building infrastructure.

Confederation of Indian Industries (CII) said since large public investments are required in critical areas like education, health and infrastructure, government could face major resource constraints, without disinvestments.

Meanwhile, Federation of Indian Chambers of Commerce and Industry (FICCI) regretted the government decision to put on hold, all further disinvestment of public sector unsits and said ''this will send wrong signals about the future of reforms programme of the country.'' FICCI President Saroj Kumar Poddar pointed out that disinvestment of PSU shares had played a critical role in the development of the Indian capital market since reforms started in 1991.

He hoped that the government would review the decision in due course keeping in view the broader interests of the Indian economy and attractiveness of India for global investors.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more