'Mr Fernandes must keep his socialist views to himself'
It was a seemingly innocuous query we asked: whether India should sell its public sector units? If the response this question evoked from our readers is anything to go by, then the issue of PSU-sale is a matter of passionate discussion.
While a number of readers felt these PSUs are the 'pillars of modern India' and 'our family silver' and ought never be sold (except the loss-making ones), a majority thought these 'white elephants' need to be divested 'as soon and as efficiently as possible.' Some even felt that Divestment Minister Arun Shourie is doing a 'fantastic job' and must be made the prime minister of the country.
We reproduce below some of the responses the debate over divestment generated.
Sun Oct 6 17:10:21 2002
Name: B.D.Patil
Email: patil11bd@rediffmail.com
Your Views: The job of government is to administer, not to provide services or to intermingle with industries who are much
more capable of producing goods & services. So let the industrialists do their job & for the sake of India & its people privatise
all public sectors & let them run the Industries. The politicians who speak against the privatisation does they know how the
industries run? What is there experience? Better these people sit at Delhi for the sake of governance & let the much capable &
experienced people from private industries run the show.
Sun Oct 6 17:14:24 2002
Name: bharat
Email: bc@hotmail.com
Your Views: You must disinvest all the PSU's. The job of the GOI is to run the country, not run bussinesses and compete with
the industry .. Mr Fernandez must keep his socialist views to himself and give a break to India. All the money got by
disinvestment should be invested in the Infrastructure.. Period.. nothing else.. This is the only break India is going to get..
Concerned Indian..
Sun Oct 6 17:15:24 2002
Name: d.n.tiwari
Email: tiwaridn77@yahoo.co.in
Your Views: psu's should not be sold at any cost. it leaves so many people in unemployment state. instead of selling psu's govt.
should tighten the rules and regulations and apply those by regular inspections by their own way. the govt. should take steps so
that the psu's which are going in loss , may gain profit. the shouting of the disinvestment ministry reveals that they also don't
want to do something regarding the survival of these sectors. disinvestment is not the only way to earn money.at least govt.
should not think like that . they should learn from the private sector where is the fault and get the drawback removed
accordingly. at last i want to suggest the govt.to look at some other alternative on this issue. thanks.
Sun Oct 6 17:32:35 2002
Name: pranjal todaria
Email: pranjaltodaria@rediffmail.com
Your Views: why not sell all that which is old ,not needee and is only taking out 30%of what i earn in the place i do not want it
to be insted off giving me good roads and safe trains what i am getting off it is unproductive and bleeding psu's ,i vote as i do to
elect every one who decide what i want to shed all thoso unwanted apprehionsions about what i want and let disinvestment
take off in full pace of sucess as it have been every were in this land , what i suggest is that indian public be offered what it have
paid fr give thoso 2-5% indian hw have paid fr years to run thoso psu -the indivisual tax payer to buy tha shares of thoso whom
they feel fit so that all the wealth be not get concentrated in few hands and all in india get thier fair share.
Sun Oct 6 17:34:07 2002
Name: venkat
Email: ghv_mail@yahoo.com
Your Views: yes, PSU`S must be sold but the proceeds must be scrupuluosly invested .
Sun Oct 6 17:41:53 2002
Name: rupakbandyopadhyay
Email: rupakbandyopadhyay@rediffmail.com
Your Views: govt is interested in selling profit making industries/unit to transfer money making opportunity to rich people of the
country/outside the country. nobody knows how the money will be utilised.nobody knows the actual value of the assets.balance
sheet hides more than it discloses.eminent economists,finance experts from academic life should make the actual value of loss
making units for sale/disinvestment.
Sun Oct 6 17:53:34 2002
Name: Vijayan
Email: vijayan2000@msn.com
Your Views: Indian politics is all about the fight for scarce benefits and spoils. In simple terms "pork barrel" politics. The only
way we can contain the damage is to restrict the size of the barrel. This means reducing the size of the government and thereby
political influence. One of the means is divestment. I strongly support divestment and all power to Mr Shourie.
Sun Oct 6 17:55:20 2002
Name: Bhargav Mehta
Email: shrutibm@rediffmail.com
Your Views: There is too much personal interest rhetoric camouflaged in the name of "public interst".With no financial
pruedence in the logic of the opposition and in fact going against the very public interest which they claim to protect!!!I am sure
PM understands this and will enforce the decision in favour of urgent disinvestment of the oil PSUs.Matter of 15days this must
end.Delayed decision is justice denied!!!!!
Sun Oct 6 18:05:47 2002
Name: Narayanan Iyer
Email: sudhalakshmanan@hotmail.com
Your Views: Firstly one should start disinvesting the loss making PSUs. The Oil Sector contributes the maximum to the Centres
funds by way of direct and indirect taxes and dividends. Its wages to sales ratio is a mere one percent compared to 6 to 8
percent for the private indian industries as a whole. The big profit making indian PSUs called navaratnas, have nothing to learn
from pretentious indian private players. If navaratnas including oil PSUs are to be privatised, then it should only be with a view
to make them technologically at par with global giant firms and this can be done only if Multinationals operating in at least 20
countries are allowed to bid. Last, but not the least, the employees ought to be offered a nice golden handshake, since mose of
them have spent their best years for their respective companies, and to discharge them at the time when they are no longer of
the employable age would be otherwise criminal. Meanwhile, the constitutional obligation cast on us by usage of the word
"socialist" in our Preamble cannot be done away with, unless the constitution is amended as provided by law.
Sun Oct 6 18:15:41 2002
Name: abhijeet kininge
Email: abhijeetkininge@hotmail.com
Your Views: If we can't disinvest Psu's today our position will lead just like 1991 situation.We cannot stay in the global
economic reform.Our fiscal deficit will rise will exrtent such a way that we can not survive in future.
Sun Oct 6 18:21:38 2002
Name: Anoop T JACOB
Email: anooptjacob@hotmail.com
Your Views: Let's take a look at the alternatives: * We will have ministers and bureaucrats running companies and businesses,
not providing governance. * More money will be poured into the loss making units, using funds made in the profitable ones. *
Loss making PSUs are not bad business propositions but badly run businesses with a large helping of political interference. *
The money locked up in these PSUs are required elsewhere. How else are we to meet those requirements? * Even most of the
profitable PSUs do not return enough to meet the average cost of the capital locked up in them, bar a few. Any sane
businessman would close his business and repay the loans. Is the government less saner than most businessmen or less of a
businessman? I do not get my surgery done by my barber. * Does the Indian Economy need these crutches any more? Haven't
we have matured in the last 50 odd years? * TRUST? Except for a few, we have the best of businessmen worthy of all the
trust. They have proven it in the international arena. Even foreigners trust them with their money. So why can't we? What is so
sacred about our PSUs. Are we the only ones with strategic needs and assets. Sell them all!
Sun Oct 6 18:29:01 2002
Name: Neha Sharma
Email: dvnn@vsnl.net
Your Views: It is very difficult to digest the logic behind disinvestment of profit making PSUs. While making disinvestment of
PSUs,Govt. is deviating from the stand\policy it decided for disivestment of only loss making PSUs.Govt. is not ready to learn
even from their own experiences.Tata invested only 1450 Crores to take-over the control of VSNL. They have allready taken
away 1500 crores by way of diversion (1200 crores) and profit of 300 crores.And funny thing is-VSNL still belongs to
Tatas.This all creating doubts regarding Govt intentions and the way disinvestment is being made.
Sun Oct 6 18:29:10 2002
Name: Roshan Sequeira
Email: roshansequeira@rediffmail.com
Your Views: When we decide in selling PSU's we should ask ourself what are their acheivements. I dont deny the fact the
some PSU's have done very well but not because of their management but mainly because of the monopoly or advantage they
used to have being a government company. Hence, PSU disinvestment is a must. I suggest unlock all the investment in PSU's
and redeem our internal as well as external debts. In order restrict monopolistic trade practices government has to restrict them
through policy measures and not by managing those PSU's. Running a company is different than running a government. It is not
governments job to control or run PSU's. I strongly recommend in favour of disinvestment of PSU's immediately. Globalisation
has benefitted a lot to this country and reforms should be continued. If you only pay interest on debts whatever government
earns today will go only in paying interest and will never be able to pay the principal at all. If we dont have money where is a
scope for development. Revive the capital market divest the stake to stategic investors and not through public issues in order to
get better price. Time is running out.
Sun Oct 6 18:45:46 2002
Name: Pradeep Engineer
Email: outinthedeep@yahoo.com
Your Views: I strongly believe that PSUs should be privatised. For the last 30 years we have more than accomplished the
objectives like employment generation, protecting core sectors etc. that were laid then. It's time we look at Efficiency,
Profitability and competitiveness, in this fast changing world. Else, it's a drain on our national exchequer. And we do have it in
us to make it, since the best talent today lies in the private sector. It has provided the right environment to bring out the best in
them. Infact it has been a win-win situation for both the Employees and the organisation and amply proved world-wide.
Sun Oct 6 18:50:38 2002
Name: Raghavan RS
Email: raghavansrinivas@rediffmail.com
Your Views: 1. Let's compare Private and Public enterprises: A. Commercially B. Socially C. Strategically D. Statuarily A.
Commercially, no venture under government will work out in our existing democracy. B. Social factors may necesitate
operation without considering profitability. This generally can be operated by goverment bodies. Private or voluntary
organisations can assist. Eg. Remote area Waste / Water / Utility / Medical management. C. Defence sectors should not be
private for startegic reasons. It could draw private resources and integrate. Major research & development should be under
Government. In fact certain R&D should be made mandatorily government. The advantage is that investment can be made
without looking for immediate gains. It could latter be commercialised without being monopolised. Strategic research like
space, defence should be public sector. Also major investment sectors eg. steel, power equipment should be started public and
latter phased into private. D. Items to meet Standards, health, safety and environment to be public sectors. 2.Consider making
major hospitals public or public aided. 3.Consider contract employment in public sectors.
Sun Oct 6 19:09:03 2002
Name: Navin
Email: anb09@hotmail.com
Your Views: Selling PSU 's are very good by taking proper measures for country security. Its good to privitaise evrything IN
iNDIA
Sun Oct 6 19:28:17 2002
Name: razack s a
Email: razacksa007@rediffmail.com
Your Views: The PSU's have to be sold to private enterprenuers because the efficiency of the PSU's depends on its
employee's efficiency. One can run faster only when tiger is behind him.
Sun Oct 6 19:34:13 2002
Name: Satpreet
Email: singhsatpreet@yahoo.com
Your Views: It is not the business of any government to be in business. Leave the trouble to the citizens and meanwhile provide
some basic facilities like water, health and education. Hope good sense prevails over the likes of Naiks, georges, etc. so that
the present government completely moves out of all the non core activities of the government.
Sun Oct 6 19:38:17 2002
Name: Bhavik Shah
Email: bhaviklshah@yahoo.com
Your Views: Yes. PSU should be sold - but not to foerigners - it should be sold to open public (via stock market), Indian
companies and to employees of the company (by granting stock options)
Sun Oct 6 19:44:01 2002
Name: m.muthuraman
Email: dr_mraman@rediffmail.com
Your Views: people of india have selected NDA headed by vajpayee only on the basis of promises given by him in the election
manifesto.NDA promised to pursue reforms and it is incumbent upon the primeminister to pursue reforms.
Sun Oct 6 19:49:21 2002
Name: T Samabasiva Rao
Email: tssivarao@rediffmail.com
Your Views: The BJP coalition Govt. should stop imediately the internal bickerings. The ccd should not wait till December and
should give it's immediate final decison, once for all, to push through the disinvestment process.
Sun Oct 6 19:49:38 2002
Name: Sudhir Birla
Email: sudhir_birla@rediffmail.com
Your Views: I believe that disinvestment is nothing else but selling household gold. The giant infrastructure built piece by piece
during 50 years is being sold to private so called entrepreneurs cheap. If private industry is efficient (as has been referred)
where the giant pvt. companies vanished, which took public (money)equity. They are not in hundreds but in thousands. What is
the fate of lacs of small scale private sector cos., which are chronically sick. The Private industry is looking towards the
established few hundred PSU companies whose foundation has been built by intellectuals and learned lot. If you have to
restructure, then close the sick units (no problems) but selling profit making units to the private people makes me feel sad. I
have watched the private sector very closely and have found the scenes, more of exploitation & agony and less of cheer (
which comes very costly). With no social security network established in the country, where the politicians and bureaucrats
need real restructuring, the disinvestment of PSUs is going to bring more problems and less solutions. Author is MBA (Gold
Medalist)
Sun Oct 6 19:58:13 2002
Name: Venkata Rao Kale
Email: vrkale@hotmail.com
Your Views: You should definitely go for disinvestment of PSUs and the same money has to utilised for either clearing of our
foreign debts or infrastructure development that can enrich our domestic business and also attract the foreign investment. Most
of the PSUs are burden for our Nation as they are running sick and the employees are also becoming unproductive. How long
the public has to bear the burden of inefficiency of so called Swedeshy. Country should utilise this money where it can generate
employment, provide basic aminities like electricity, drinking water and education without which we can not even dream of
leading good life style.
Sun Oct 6 20:17:05 2002
Name: Pradip Parekh
Email: ppt@cox-internet.com
Your Views: It is imprudent to seek opinions without putting the facts on the table. The Indian media have failed terribly in
educating the people on positives and negatives of PSUs. For me, it is very clear that extreme corruption in govt bureaucracy
will never allow a PSU to be profitable even if it was a monolpoly. I have dealt with a PSU and I speak from first hand
experience. The PSU officers are under no pressure at all to generate profits for PSU; in fact, they go about as if they have a
birth right to milk their PSU dry. The govt accounting books, eve if it shows any profit, are more questionable than Enron's.
PSUs are for the personal gains of a few and a huge drain on Indian people.
Sun Oct 6 20:34:41 2002
Name: Venkat
Email: venkt@hotmail.com
Your Views: It is not a failure in any sense on disinvestment with issues with oil PSUs. There are many PSUs which can be
given to private and Money can be realised from that. Oil being strategic can go the last and this should not in any way be
constructed as failure in disinvestment strategy.
Sun Oct 6 20:45:06 2002
Name: trishul
Email: trishul3@hotmail.com
Your Views: Mr.George fernandes is opposing the divestment of oil co's.This man an accused in Baroda dynamite case,tahelka
tainted who brought the lifeline of india to a halt in the name of trade unionism in the early 70's(railways)and opposed
introduction of computerisation in the country Today we can see how computerisation introduced by late Rajeev Gandhi has
taken our country.The sooner we get rid of this fellow from the govt.is better for the country During all the wars India faced
with it's neighbours the oil companies were not owned by the govt.and what is talking about it's being in strategic sector.This
fellow is playing in the hands of select share dalal's for their benifit.
Sun Oct 6 21:00:05 2002
Name: ajay vatsayan
Email: ajayvats@seychelles.sc
Your Views: i favour disinvestment as the psu are the white elephants of the indian economy .The psu are more of a burden to
the economy due to fiscal mismangement and overstaffing.i feel they should stramlined and made into economically viable
units.The staff which is retrenched should have a soft cushion lay off viz golden handshake etc.We need these psu to be the
flagships of our economy in India as well as abroad.
Sun Oct 6 21:06:30 2002
Name: m.l.raina
Email: mdraina@rediffmail.com
Your Views: I think we should go into disinvestment with a human face.
Sun Oct 6 21:17:02 2002
Name: Advait
Email: advait@iwon.com
Your Views: Yes! PSU Sellsoffs is a must in the modern age. PSU off late have been nothing less than giant companies who
employ more and with depleting productivity. The pace with which the sale should be done might be moderated but eventually
all PSUs need to go
Sun Oct 6 21:36:30 2002
Name: ashvin
Email: cupb@rediffmail.com
Your Views: As the current status of our PSUs lie, they are more a liability than a asset. Every PSU is over staffed with most of
the people just being there for the heck of it. The main problem of disinvesting in any of the PSUs is the fact that most of the
over staffed people come from low-mid or mid income group. So with any compensation which the govt would offer, it would
be impossible for these people to take a VRS and go back. This results in strikes and lockouts...further lessening the output of
the company. So though it is a good idea to disinvest in the PSU's just to increase the compnay's profitability and lessen govt
burden, it would be impossible to do so unless the govt has an out of the box solution to convince people to retire early.
Sun Oct 6 21:43:22 2002
Name: A.R.S. RAGHAVAN
Email: raghavan1955@yahoo.com
Your Views: As BJP govt. had already started the disinvestment process amids of controversies sucessfully they should
continue the same to achieve the tarjeted revenue. The success of ipcl and balco disinvestment had given maximum divident.
even bpcl and hpcl will give good divident alongwith other disinvestment companies. This amount will be of great help to the
government in implimenting new projects like power/water and oil exploration. The major problem is the ministers incharge of
the porfolio being disinvested as they will loose their power and idendity in government and hence they are opposing for their
own benifts against the public services expected from them by the elictrolates. The segment choosen for disinvestment are not
at all under defence or very essential for the govt control. In todays market ther is no monopoly system whcih prevails and all
the psu's which are in profit also will become red if proper and market oriented decissions are taken time to time. This is the era
of information technology and to adopt it by govt is a delayed process. Even they are not able have IT online and simplified
though they are promissing for the last one year how can we expect more????
Sun Oct 6 21:48:15 2002
Name: k.s.s.Raman
Email: jmss@vsnl.com
Your Views: PAST 50 YEARS, POLITICIATIONS WERE BOTHERED ABOUT ONLY VOTE BANKAND THEIR
POWER. NO PARTY HAS ETHICAL GROWTH POLICYAND NATIONAL INTEREST. IF, SOUND POLICY IS
APPROVED BY RULING AND OPPOSITION PARTY,THEY SHOULD STICK TO THE CONFIRMED
POLICY.NOW NATIONAL DISEASE IS NOT HIV/AIDS.MORNING TELLONE THING , THE VERY NEXT
MOMENT TELL EXACTLY OPPOSITE.GOD SHOULD SAVE OUR COUNTRY.
Sun Oct 6 21:52:48 2002
Name: V.Ramesh
Email: vramesh_3848@hotmail.com
Your Views: It should be. The governments have no business to run companies. They are elected to channelise resources for
development of the state and ensure organised development and meet the social obligations. The bureaucrats and ministers do
not want to relinquish controls as they would not be able to use their vehicles, aircrafts and guest houses for their personal
benefits nor would they de able to dole benefits to their chamchas. It should sell all PSU's when the going is good and not wait.
Sun Oct 6 21:53:59 2002
Name: Narayanan
Email: anarayanan@hotmail.com
Your Views: go ahead with the selling of PSU. The role of govt is to GOVERN and not to run industries. Govt stake in
industries should progressively come down to a single digit, i.e. 0. Govt should then ask its regulatory agencies to involve the
industry in providing meaning self-regulating mechanisms to prevent scams, frauds, loopholes etc. The requlatory bodies also be
mutually involved in requlating/monitoring each other so that the frauds do not occur.. this is very much akin to how Research
publications occur in well known journals. In research community, the members scrutinize each other's papers thoroughly. This
has not hampered the progress in research. I have no doubt that India will #1 in the world if the regulatory bodies scrutnize
each other, and industry do the same, leaving the government only to take care of social programs and governance. LASTLY,
INDIA DOES NOT HAVE TO BE A CAPITALIST UNLIKE US.
Sun Oct 6 21:55:37 2002
Name: R M Sharma
Email: rmsharma@vsnl.com
Your Views: The PSUs should be disinvested to ensure professional management and stop wastage of public money by
selfserving bureaucrats and politicians. However it needs to be ensured that the competetion remains alive and india should not
be at the mercy of a cartel of multinationals. If such a situation is allowed to develop then the MNCs will start armtwisting the
government as they do all around the world. However, the disinvestment process under the present minister is going smoothly
and should be allowed to proceed unhindered.
Sun Oct 6 22:16:51 2002
Name: vasu reddy mekala
Email: VASU_MEKALA@HOTMAIL.COM
Your Views: Absolutely, it will be tough sell with the political parties, but eventually it will help out the economy.
Sun Oct 6 22:18:20 2002
Name: Vishnu Mahant
Email: oibas@attbi.com
Your Views: We must reduce government run institutions for efficiency, though not blindly. More jobs for more people is
better, but efficiency rules when it comes to competition. It must be done like China has done and not like Russia.
Sun Oct 6 22:32:17 2002
Name: Shyam Menda
Email: smenda@rediffmail.com
Your Views: GO AHEAD FULL STEAM
Sun Oct 6 22:43:13 2002
Name: Sanjay Sampath
Email: eowsitb@hotmail.com
Your Views: The proof is in the pudding. S&P has already downgraded india's status to junk.
Mon Oct 7 15:06:08 2002
Name: Rajendra
Email: rkhachane@lycos.com
Your Views: We need not sell all PSU's but the consistently loss making ones should be definitely sold out. There is no reason
to sell profit making PSU's. Once there is a policy to sell off loss making one's the profit making PSU's will strive to maintain
their profits.
Mon Oct 7 15:43:18 2002
Name: Rajan
Email: rsrajan@rediffmail.com
Your Views: Divestment is good. However, safeguards should be built in place to prevent monopolies. In case of Oil
companies one has to take note that there is no independent regulatory authority (like IRDA etc) to prevent misuse of
monopoly/oligopoly by the companies. What happens if Reliance takes over HPCL or BPCL? Who would regulate Industry to
prevent artificial levels of prices and enable true market prices to emerge. Why is the Government and particularly the Ministy
of petroleum silent on this? As of now the three PSU's are fixing the prices artificially to the detriment of the consumer. Should
not the Govt. allow free import of petroleum products if the imported price is much lower than these artificial prices. The
consumer is being truly had and he doesn't even knows it. PSU's claim they are subsidising the products!!! First create a truly
independent regulator before divestment.
Mon Oct 7 21:47:22 2002
Name: J D Nath
Email: jdnath_2000@yahoo.com
Your Views: :I very much support the views of Dr. Gurumurthy of SJM. Really speaking why we want to invite foreigners to
this country once we have knocked them out. Divestment philosophy looks to me as achievement of narrow personal political
gains. Once we can not or don not know how to manage a company we go for closing it down. We do not strive hard to
change the style of management. I think India can be run by sincere Indian Managers and we do not require somebody outside
the country to tell us how to run. Only we do not have a desire to chage and stress ourselves. The very good examples of
Russia and Japan, Mexico, Argentina must be kept in mind. Our civilsation is more than 5000 years old, and we are to teach
the world how to do? India can not work on a imported philosophy. India is India and USA is USA. Let us not copy them
blindly. We have already done so much that it shall act upon our health. I would request the readers to create a Yahoo Group
and disseminate the knowledges on this subject for awakening of our politician. I hope the rediff.com shall do something to
arrest the forthcoming catastrophe......
Mon Oct 7 22:15:54 2002
Name: Anand
Email: paramasivamanand@hotmail.com
Your Views: :The majority stake in the oil companies should still be held by the goverment or exclusively Indian owned corp.
The multinational crooks will only arm twist a country in the time of a crisis like war. Look at the US and the state of its
Multinational corporations. Only a hand-full are ethical. Look at the fate of the airline industry in the US; In over six decades of
operation they have made profits on no more than two or three years and have always been bailed out by the US government
repeatedly by federal aid. Bottom line:air travel in the US is subsidised by the tax payers money as its the need of the rich and
the political class. The same was not the case of Amtrak, the common man's means of transport, the rail. The Eropean system
of democracy with socialism is far superior to the US system of free market.Their standards of living speak for themselves, with
13.8% of americans being below poverty line. Efficiency is important, but not at the expense of a nations self-respect.
Mon Oct 7 22:31:10 2002
Name: Raj Nathawat
Email: rajnathawat@hotmail.com
Your Views: :Disinvestments of PSU's will only be successful if units are sold in maintained competitiveness to profit consumers
& business both. Else it can turn in to just bare profit making option & exploitation of consumers to the business who is buying.
After all these PSU's are build by lot of resources. After affect of this should be competitiveness which automatically takes care
of consumer benefit.
Mon Oct 7 22:42:45 2002
Name: suresh
Email: sdoraisw@yahoo.com
Your Views: :we should go ahead with this disinvestment/selloff. The govt. should set the laws and enforce the laws and should
not be running the economy. Private money is much more efficient than public money. The govt. shouldn't be using public
money to keep these companies floating where the workforce has no discipline and work ethics. Private ownership will enforce
these and lead to the overall development of the country where in the govt. uses the money they get by reducing the debt,
improving the infrastruture/social services, pumping more money into education & health care. We need to get new life into
these companies and that can only be done by someone who is not afraid of the politicians, workers and keeps the interest of
the shareholder in mind. Privitization is good for everyone.
Mon Oct 7 23:23:07 2002
Name: Mr.Amrutanshu S Warty
Email: warty_amrut@rediffmail.com
Your Views: :PSUs must be classified as strategic and non strategic.Those which are required for the nation's defence ie. of the
former group must be held with the government.And others ie. of the latter group may be sold off.As far as making Arun
Shourie the Prime Minister is concerned,this may not be a very good idea today.Because though the man has an impeccable
record,it requires someone more than just an honest man,though a very important trait,to be the CEO of a country as large and
diverse as ours.It requires a person with mass appeal.Maybe a few years down the road,this would seem a very good and
sound proposition.
Mon Oct 7 23:26:58 2002
Name: joe meyers
Email: joemeyers@indiatimes.com
Your Views: :Let RSS, VHP and Bajrang Dal try their hand at running these PSU before divestment. Modi, Togadiya, Dalmiya
can be suitable CEOs. They can organize and fire-up the workers like no one else. The results will be earth shattering!
Tue Oct 8 00:11:44 2002
Name: pk mong
Email: pkmongsh@yahoo.co.uk
Your Views: :Yes, all psus should be sold. pvt ones will do better for the people.Thinking abt it, why not selling off armed
forces too. pvt army will do better service and if they fail, we can take service of some other army.
Tue Oct 8 00:54:13 2002
Name: Vijay Vardhineni
Email: vvardhineni@yahoo.com
Your Views: :In this message board, many of the participants are suggesting that govt should not sell profit making PSU's. We
need to look at the rate of return from these companies. If govt invested 1000Cr on a PSU and if that PSU is making a profit of
1Cr, it wont make any sense in keeping this PSU with govt. I strongly feel that most of the PSU's are highly inefficient
organizations. We should privatize most of the PSU's immediately.
Tue Oct 8 01:29:59 2002
Name: harry patel
Email: nassau@yahoo.com
Your Views: :One needs to understand that the only way a country can progress is when its human capital is put to use in a
productive manner. Its a fundamental concept of economics. let foriegn investment increase in India of course in a controlled
manner ( A word of caution here..the control should be placed by educated economist/financial advisors who advice the indian
govt. and not politics/politicians should be just way of communication of those advices and no way able to influnce the decision.
More products/services produced and thus offered in the country....more jobs for people....more money flow into the
consumer market...more demand created....more products/services offered. Ofcourse inflation will be again a thing to deal with
but I would think such an economic situation will be much better than indian unemployed being expoloited by the drag on our
country- the uneducated politicians.India should learn from other countries....
Tue Oct 8 03:40:18 2002
Name: Srini Solaraj
Email: srini@camdonatlantic.com
Your Views: :It is very very difficult to let go of an org, which has been the pillars of the country, i feel it is time the Government
gets away in running industries and compinies and concentrate on governing the country. There are very basic issues to be
taken care by the govenment. It should goven the country not the companies. It is a very pain full process but it gives the
government to focus on the providing the people the basic needs like Clean water, Health care, Housing and Schools (Good
Education). I am in favor of selling the PUS only to the Indian investors not to outsiders because the profits are huge in some of
the Public Sector compines. We have a Good minister who is taking some bold steps and we should support him. Keep up the
Good work. Mr. Aurn Shourie Srini Solaraj ( U.K)
Tue Oct 8 09:07:22 2002
Name: Anju Reddy
Email: chavana@pacbell.net
Your Views: :I don't care how profitable a PSU is. In the hands of the private sector, it will be at least twice as profitable and in
the long run create better jobs. What are we afraid of ? Wealth created by the private sector is ultimately spent in the country
and benefits everyone. People seem to think that once the PSU goes private, that will be the end of all the jobs and the money
will fly out. Not so. I say, let business people take care of business and wealth creation while govt. concentrates on national
policy, defence and infrastructure.
Tue Oct 8 09:51:18 2002
Name: Dr. Vivek Kumar
Email: vivekkumaragar@rediffmail.com
Your Views: :I simply dont understand that why government should work as manufacturer or trader. It is simply angainst the
ethos of polity. Secondly issue is not whether to sell profit making or loss making PSUs rather issue is why government should
be in the business. It is just ridiculous. We dont have money for education and health but we have money to invest in
manufacturing of autos. I am not saying that disinvestment is the key of evry thing but we can correct ourself atleast for one
mistake. Let joshis, naiks and fernades cry foul but I am sure it is high time for shouries to rule
Tue Oct 8 10:38:45 2002
Name: Kaushik Mitra
Email: km0412@rediffmail.com
Your Views: :Economic prowess of a nation comes necessarily from infrastructure and energy and of late telecommunication.
The government should not approach divesture as a Southeby auction wherein the object of desire goes to the highest bidder.A
businessman with ability to raise resources will look at the first opportunity to cash out through asset stripping.Instead the
government should only consider strategic investors globally who can add value to the business.If the PSU is profitable and
belongs to a strategic sector the government should hold on to 26% voting rights and build return on net assets in the
valuation.But unless absolutely exigent the government should not interfere in the management.MNCs will try to dilute the
government stake through additional capital infusion.The government can prevent dilution by insisting on preference capital.The
MUL model has worked fine for the automobile industry and can be used for core sector PSUs.(Although I feel govt should
have got out of MUL 5 years ago because it is not a core sector). For non-core sectors the government should divest as if
there is no tommorrow.But safeguards should be built in to prevent asset stripping.
Tue Oct 8 11:23:46 2002
Name: rekha. B.N
Email: rekharaju2@rediffmail.com
Your Views: :All PSUs must be privatised very urgently. There is no need for the government to do the business. Government
has lot of other jobs to do. Education, health, rural development, helping poor peoples to come to mainstream by increasing
thier per capita income and so on by making proper legislation and good governance. What ever public sector it may be, it is
very in-efficient compared to private companies. It is not correct to take poor tax payer middle class persons money and give
as salary and perks to loss making public sector employees. The personnel working in public sectors may not do thier jobs
properly because of lot of reasons such as buearocracy set up in the organisation and corruption. Any wathere is no reward for
efficient and hard working peoples in public sectors. The beinifits will be taken by by a group of crooked minded peoples.
Automatically good peoples loose interest in working. Then how can you expect profit and growth Of-course for the
government whether it is private or public it can have control over them. Nobody is above the government.Our ministers fully
devote their time for making good long term policies instead of involving in public sector company affai
Tue Oct 8 11:27:22 2002
Name: Shankar Sharan
Email: shankshan@rediffmail.com
Your Views: :One can trust Arun Shourie. Whatever he does, serving national interest remains his sole aim. Hence his move on
disinvestment must be right. Next time he MUST be given the portfolios of Education and Information and Broadcasting
before, finally, making him the PM.
Tue Oct 8 17:14:09 2002
Name: Promod Kapur
Email: pkapur@mailcity.com
Your Views: :Public Sector Enterprises are supposed to be engines of growth for the economy. Unfortunately what they have
turned out to be are fiefdoms of the politicians and bureacrats. They have seized to be either engines of growth or even
activities that could have brought about social change. They are not even enterprises any more. Why hang on to a notion when
it has neither relevance nor credibility any more. It is better to disembark rather than sink, because no matter what any
government might want to do, there is one thing they will never be able to achieve - change the attitude and culture of the
people who thrive and live off the public sector undertakings. The only result likely to accrue is total loss in th4e end, so hand it
over to peoiple who want to make something out of it from growth ppoint of view. After all there is nothing exclusively strategic
in today's world any more.
Tue Oct 8 17:16:06 2002
Name: Murali Siripurapu
Email: muralisk01@yahoo.com
Your Views: :I think the people who are opposing are trying to make headlines, as there is no reason why we should not sell the
PSUs. Every one in this country knows the state of affairs in our PSUs. If there is anything that this government can say that did
for the Country, then they should move ahead with disinvestment programme in full steam. I guess, the politicians who are
opposing are trying to please certain section of people, who are mainly their vote banks and not the general people of this
country. The benefits from the disinvetment might not be immediate, but over a period of 3-5 years, thing will defintely improve
and will generate lot of jobs. I wish the people of this country realize this sooner than later and we will be able to sustain our
growth during the hard times. As I said, we can wish. We need people with steel nerves to make firm decisions at the top and
who can push thru with these reforms ASAP. Everyday lost in debate is a huge loss of valuable FDI and people's wealth in the
stock markets. Who is responsible for this?
Tue Oct 8 17:29:11 2002
Name: Amitabh Pandey
Email: amitabhpandey@rediffmail.com
Your Views: :A feeble structure full of monopolistic penchant with no tracking of accountability, thick with corruption and
bureaucratic curse with lack of honest and capable political administrators fails the very objective of having the PSU. If you
bring slightest of the competition to these so boasts of profitable PSU, you would find them falling like a pack of cards. Its only
the monopoly which is giving them the advantage today. The other argument however has a weight that PSU with strategic
importance should not be sold. In this regard I think the government must come out with some kind of assuring alternate plan or
argument to counter these various apprehensions.
Wed Oct 9 16:04:53 2002
Name: sandeep
Email: keotesandeep@yahoo.com
Your Views: :Disinvestment of loss making PSUs should be done first.But unfortunately Govt. is starting from profit making
ones.Reality is Government wants to sell profit making PSUs and earn money.This is like selling owned house ans start living in
rented house with better lifestyle.This kind of nature is not good.They are going to sell the nation.Nation is running on income
from profitmaking PSUs.They are trying to show some profit making PSUs like BSNL as loss making by showing less cost of
assets and reducing income of PSU by reducing the STD and ISD charges.Their eye is on OIL companies,Railways and
Telecom sector.
Wed Oct 9 21:29:51 2002
Name: balaji b s
Email: balajibsin@yahoo.com
Your Views: :Disinvestment is a distant dream now. Statements by Vajpayee though has given some hopes, is not the end all
depsite the office he is speaking from. Other interested lobbies will prevent finding a workable solution. Questions like, "Why
profit making PSU's" Strategic Sale etc, would certainly slow down the process. Again ONGC or GAIL being a minor partner
is not workable at all in the sense that culutural variations of public and private partner will not take off. Technically and logically
the wealth that these PSUs which have lined up for disinvestment is a public wealth and should reach the public at large. This
means that every citizen of India must get a share of the wealth or intrinsic value which has been created by taxpayers. This is
possible only when a strategic sale is permitted. Idiosyncrasies of our politicians pulling the cart in different directions would
result in a road to nowhere. Fernandes for example has a single point agenda that Reliance should not acquire this. He is at least
open about airing his views. Hidden agenda of our politicians have many facets. If Arun Shourie and team can succeed in their
mission, they would do good to the nation
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