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Privatisation of Airports : Acid Test for the Left On 02 06 04, the newly appointed Civil Aviation minister in the Union Cabinet, Praful Patel - a leader of the NCP and a close confidante of its supremo Sharad Pawar, announced to the media - appearing before the TV cameras, that the Delhi and Mumbai airports, now wholly owned by the Airports Authority of India (AAI) - a profit-making PSU, will be 'restructured' i.e. privatised. He, however, took due care to avoid the P-word, presumably keeping in view the sensibilities of the Left - who are supporting the UPA government from 'outside'. As per his announcement, these two airports will be 'modernised', in tandem with the decision already taken by the predecessor government, with the infusion of private capital - indigenous and foreign, and (exclusively) foreign technology. The government share in the proposed joint venture(s) will be reduced to 26%, another minimum 25% will be provided by Indian companies and/or FIs. The share of the foreign capital will be limited to maximum 49%, instead of 74% - as had been promised earlier. The deadline for 'expression of interest' by the interested parties, which was to expire by 4th June has been extended up to 20th July. This public announcement made by a minister bypassing the parliament, while its session is on, not only runs counter to the commitment made in the CMP, the ink on which is yet to dry, to the effect that there will be no privatisation of the profit-making PSUs, while divestment (to the maximum extent of 49%) for the purpose of resource raising may be resorted to, but also appears to be very much a fit case for breach of privilege of the parliament. The minister, while being deliberately oblivious of the CMP commitments, was apparently more concerned about his commitments to certain interested quarters. Hence this hurried public announcement to present the UPA government with a fait accompli situation. One can only hope that the Indian working class, and also the Left, would rise to the occasion and not limit themselves to just proforma protests. Courtesy:"suklasen" <suklasen@yahoo.com> Fri Jun 4, 2004 ----------------------------------------------------- India News > Leftists back airport privatisation, seek probe in market crash New Delhi, June 4 (ANI): Two days after Civil Aviation Minister Prafull Patel announced privatisation plans for the country's biggest airports at New Delhi and Bombay, a key Leftist leader said that they have no opposition to the move. Praful Patel had on Wednesday said that there was a need to improve the state of its shabby airports to present a better face to the rest of the world as he met various Communist leaders to allay their fears on the issue. Preliminary bids to sell shares in the two profitable airports have been invited by this week but officials in the ministry say they expected some delay in the process. The government had earlier hoped to complete the process by September, and is planning to allow foreign investors to pick up to 49 percent stake in the proposed joint ventures. Analysts have feared for India's privatisation programme since Prime Minister Manmohan Singh and the Left parties, whose support the coalition needs for a majority in Parliament, have opposed the privatisation of p rofit-making state companies. "We are against privatisation of any profit making public sector. The Airport Authority of India is a profit making private sector but we are conscious of the fact that modernisation of major airports like Delhi and Mumbai (Bombay) would require the induction of large amount of funds which is not available with this public sector enterprise," senior CPI-M leader Sitaram Yechury, said in New Delhi. Yechury also called upon the government to order inquiry into last month's market mayhem, which sent the courtry's main Bombay Stock Exchange falling by over 300 points, its second biggest fall ever. Yechuri said there was evidence of bear cartles trying to manipulate markets and they should be made public. "Until there is evidence, I will not say who those people were, whether political leaders or their agents or who they are. The fact remains and in fact the earlier government has gone on record to state that there is a bear cartel working which is pushing down the markets in making their own money and they said that they know who this bear cartel is. They did not name them before the country and the people. We are saying even now, that this information should be in public knowledge so that you can regulate the market," he said. http://news.newkerala.com/india-news/index.php?action=fullnews&showcomments=1&id=21196 |
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| << June03, 2004 - [India Thinkers Net]Prominent citizens want Modi’s scalp |
June05, 2004 - [India Thinkers Net]Largesse to Best Bakery judge slammed >> |
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