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RSS, not against disinvestment

RSS, not against disinvestment

Publication: Organiser
Date: September 15, 2002

RSS spokesman M.G. Vaidya spoke to Organiser on RSS' views on the disinvestment issue. Shri Vaidya said, "In principle, RSS is not against disinvestment because we don't approve a socialist model of economy in which there is governmentalisation of all means of production and distribution". He added that there must be a role of government in the economic sector. On the other hand, the Government must have full control over the strategic sectors like Defence Production, Railways, Atomic Energy, Oil, etc.

Regarding the Government policy on disinvestment, Shri Vaidya raised few questions such as: Should those industries running in profit be privatised and the Government revenue be transferred to the private agencies? Can we ensure that by obtaining 25 to 26 per cent shares, the private company will not be able to control the whole industry?

India's experience is that big financial houses with just 20 per cent shares are in the full control of the industry, the RSS spokesman pointed out.

On fixing the reserve price, he asked whether it would be disadvantageous to take into account the market price of the enterprise instead of only the share capital. "Are we careful not to create new monopolies by transferring the ownership right to the highest bidder," he wondered.

Shri Vaidya lastly added "Are the interest of the employees employed in the disinvesting Public Sector Units (PSUs) adequately taken care of?"


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