Govt decision to sell shares in PSUs irks Left

New Delhi, May 11 (UNI) The Communist Party of India (CPI) today came down heavily on UPA government's proposed move to disinvest minor shareholdings in as many as 24 profit-making PSUs, dubbing the move as ''most dangerous'', and resolved to resist its implementation.

The Left party stressed that the move is against the provisions of the Common Minimum Programme of the government as it is very clearly assured therein that the profit-making PSUs would not be sold, rather they would be strengthened.

''The government should without further delay abandon the very idea as these undertakings are of vital and strategic importance,'' CPI General Secretary A B Bardhan said here.

At a press conference, on the conclusion of the party 31-member National Executive two-day deliberations, Mr Bardhan said it is unfortunate that the government had decided to sell 5 to 10 per cent of the public holdings in these profit making undertakings that included prestigious companies like the Rashtriya Ispat Nigam Limited, Nuclear Power Corporation, Indian Railways Finance Corporation, Coal India Ltd, Uranium Corporation, and Shipyards at Goa and Cochin.

Mr Bardhan said Finance Minister P Chidambaram is theorising upon the merits of lowering the government holdings in these undertakings but this is a dangerous way of diluting the government's shares.

Party Deputy General Secretary S Sudhakar Reddy and National Secretary D Raja were also present in the press meeting.

UNI KSA ARB RP KN1822