Bharatiya Janata Party General Secretary Pramod Mahajan Friday said that there is a need for a national policy on divestment of public sector units as the current one, based solely on profit or loss criterion, is incorrect.

Mahajan, who is in New York to take part in the UN Committee meetings, said the basic policy on divestment should not be adopted on the basis of whether a PSU is making profit or incurring losses. "We need to evolve a consensus on which sector or sectors we want to retain control and which are the ones on which we do not irrespective of profit or loss," Mahajan said during an informal meeting with journalists here. "The primary motive should not be profit or loss," he said in response to a question from.

Mahajan said there is a need to develop a 'positive and negative list' of sectors where divestment should be allowed and disallowed. "I think profit and loss (criterion) is a misnomer because profit and loss of a PSU often depends on the policies of the government," he said.

Mahajan said that a national policy as needed because "political parties often change their stance depending on whether they are in the power or in the opposition."

Mahajan said that during its administration the BJP tried to give some kind of a policy framework and moved from a divestment commission to a divestment ministry. "Unfortunately, after we lost power, the ministry has almost been dismantled. I think with the changing governments and changing roles, the policy differs," he said.

"I think we have to come out with a CMP (common minimum programme), not a political CMP but a national CMP, on what should be done and what should not be done," Mahajan said.