On the issue of disinvestment of big public corporations, Congress leader Adhir Ranjan Chowdhury accused the government of being on a “selling spree of family silver“. Speaking during the Zero Hour, he said that the ruling government is selling profit-making public sector undertakings.
The government has decided to sell off its stake from five big public sector enterprises. Finance Ministry announced its decision to privatize stakes from Bharat Petroleum Corp. Ltd (BPCL), Shipping Corp. of India (SCI), Container Corporation of India Ltd (Concor), THDC India Ltd (THDC) and North Eastern Electric Power Corp. Ltd (Neepco).
Adhir Ranjan Chowdhury said that the government is only focused on extending favor to selected corporate houses. Responding to the issue, Speaker Om Birla asked BJP member Locket Chatterjee to raise her issue but the Congress leader requested the chair to allow him to continue.
The government has decided to sell it’s 74.23% and 100% stake in THDC and Neepco respectively, 53.29% stake in Bharat Petroleum, and 63.75%, and 30.8% stake share in Shipping Corporation of India and Container Corporation of India respectively.
The decision has been taken in the backdrop of the government to open up the fuel retail market by lowering the entry barrier. Furthermore, the government meeting its ambitious target of generating Rs. 1.05 trillion from disinvestment.