Updated 30 Apr 2022, 9:59 am
The Communist Party of India, Central office on Friday demanded an immediate halt to the privatisation spree of state sector units, stating that such move is against the national interests.
In a release, CPI Central officer general secretary D Raja accused the BJP-led National Democratic Alliance (NDA) government of being “hell-bent on selling off all national assets” through monetisation policy and privatisation of public sector units.
“Those long-term assets are being sold to collect revenue to meet the current expenditure and the government’s failure to mop off enough finances through either retaining the earlier higher corporate taxes or hiking them further, if necessary, to offset the heavy losses caused by rightist US-model economic policies,” he stated.
“The ‘sell-offs’ are bound to affect the sovereignty and economic independence of our sovereign nation which in contrast will benefit both the domestic and foreign corporates,” he stated.
He further condemned the Modi government’s announcement that its share capital in the country’s flagship financial institution, LIC will be sold off.
Mentioning that with such a move, 22 crores of LIC’s shares are being given to private hands which will fetch about Rs 20,000 crores of revenue to the central government, he continued that such retrograde move is against the national interests and against the interest of LIC’s policy holders.
Drawing the attention of the government, the party calls upon the government to immediately halt its privatisation spree as well as sell-off of its national assets, he added.
First published:30 Apr 2022, 9:59 am
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