Why profit-making PSUs are being sold off: Nusrat asks PM Modi in Lok Sabha

KOLKATA: Seeking a response from Prime Minister Narendra Modi with regards to the disinvestment policies of the Centre, Trinamool Congress Basirhat MP Nusrat Jahan on Friday asked on the floor of the Lok Sabha as to why profit-making public sector enterprises were being sold off.

“I strongly oppose the disinvestment of profit-making PSUs by the government. And, my appeal to the honourable Prime Minister to come to the House and assure that what is the actual design and proposal on the part of the government with regards to the future of PSUs in the country…” the MP stated.

She insisted that in the initial days of planning, the public sector was used as a strong tool by the government to maintain its control over the key industries.

“The public sector was in fact seen as an instrument to move towards the ideal of a socalled socialist state. The wages given in the public sector industry were supposed to be modeled for the private sector enterprises,” she stated, alleging that the government at the present juncture considered the possibilities of raising revenue by disinvesting the shareholdings in major PSUs like Coal India, Indian Oil Corporation, HPCL, SAIL, RAIL, GAIL, among others aggressively. She asked why the government was disinvesting profit-making industries rather than following the same policy for loss-making industries. The MP also highlighted that the employees of such PSUs are facing uncertainties. She also advised the Prime Minister to consider selling the lossmaking industries in the PPP model, instead of opting for total selling out of PSUs. TMC has been opposing the disinvestment of PSUs for long. According to sources, the Centre is planning for disinvestment in at least six more public sector enterprises.