CPIM flays Cong-led UPA Govt
The Govt has been flayed for it's decision to raise funds by issuing 'initial public offerings' (IPOs) of three public sector power companies, reports Sutirtho Patranobis.india Updated: Feb 09, 2007 01:41 IST
The Congress-led UPA Government came in for two bouts of criticism from the CPIM on it's decision to raise funds by issuing 'initial public offerings' (IPOs) of three public sector power companies and on the Government's silence on US Ambassador David Mulford's comment against the Indo-Iran gas pipeline.
The party termed the issuing of IPOs as the first step to disinvestment. The three power companies in question are National Hydro-electric Power Corporation, Rural Electrification Corporation and Power Grid Corporation of India.
The party said in a statement that the "government should stop the practice of riding piggyback on IPOs issued by public sector companies. These three power companies will be issuing IPOs, which are expected to fetch them Rs 2,400 crore. While these funds will go to the companies concerned, the government has decided to disinvest shares owned by it to the tune of Rs 1,500 crore. This is uncalled for."
On the issue of Mulford's statement, CPIM said that the Government should tell the ambassador that he has no business to interfere in India's bilateral relation with Iran.
The party wants the government to "pursue the gas pipeline project", which, it feels, is vital for India's energy security, and convey to the US clearly that it should not interfere in New Delhi's relations with Tehran. These views were expressed in the party mouthpiece 'People's Democracy's latest editorial'.
"The UPA government should have told the US ambassador not to issue threats of sanctions and that he has no business to interfere in India's relations with Iran," it said.
Mulford had last week said that his country discourages commercial dealings like the gas pipeline project with Tehran under the Iran-Sudan Sanctions Act and this position has been conveyed to New Delhi.