CPI(M) opposes entry of foreign companies to commodity market

Bhubaneswar, Feb 2 (UNI) The CPI (M) will oppose the entry of foreign companies in the future trading of commodities, party general secretary Prakash Karat said here today.

Mr Karat, who was here to participate in the birth centenary celebration of Bhagabati Panigrahi, the founder of the Communist movement in Orissa, told newspersons that despite the opposition of the Parliamentary Standing Committee, the government had imposed an ordinance to facilitate the entry of the foreign companies into the commodity market.

He said the government was likely to move a Bill to amend the Forward Contract Regulation Act, but the party would oppose it.

Mr Karat said the participation of foreign companies in the commodities market, which was highly speculative, would push up the prices of essentials and should be opposed.

The CPI (M) leader said the launching of the Israel satellite by Indian Space Research Organisation (ISRO) would create misunderstanding between India and the Gulf countries and increase the difference.

He said though the Union Government claimed it to be a geo-satellite but actually it was meant for conducting spy activities.

The government, he claimed, was planning to launch two more satellites and had kept it a secret. The CPI(M), he said, was seeking an explanation from the government on the launching and nature of satellite.

On the proposal to raise the petrol price, Mr Karat said the government should go for rationalisation of taxes like customs duty and excise duty before raising the petrol prices.

The rationalisation, he said, should also be reflected in the Union Budget. After rationalisation of tax structure, the government should go for rise in petrol prices if required.

Earlier, delivering birth centenary lecture at a function, Mr Karat warned that rapacious growth of capitalism, growth of communal forces and growing integration with international finance capital would erode national sovereignty, increase regional and social disparities and compromise with the unity and integrity of the country.

Mr Karat called upon all Left, democratic and progressive forces to build up a left and democratic alternative to fight against these evils.

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