Govt soft-pedals PSU disinvestment

The National Common Minimum Programme of the Government said only those companies will be sold which cannot be revived.

With the coming of Left-supported United Progressive Alliance to power, the disinvestment programme has come a full circle.

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The Congress-led government has gone back to the policy of disinvestment adopted in the early 1990s by the Narasimha Rao Government when partial equity in some of the public sector companies was sold.

The disinvestment of public sector companies, which had gained momentum after overcoming considerable opposition during the National Democratic Alliance (NDA) Government, was abandoned as a policy by the new government that assumed charge in May, 2004.

The National Common Minimum Programme of the Government spoke against the disinvestment of profitable PSUs and said only those companies will be sold which cannot be revived.