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VSNL Disinvestment: Scam in the Making By Prabir Purkayastha
Monday, 12 January 2009 10:28

THE BALCO disinvestment fiasco – handing over a highly profitable strategic industry to Sterlite, deeply implicated in Harshad Mehta’s stock market scam – has taught nothing to the Vajpayee government. The current disinvestment plans on the anvil for profitable Public Sector Units (PSUs) continue with equally scam tainted partners. The Videsh Sanchar Nigam Ltd (VSNL) disinvestment scheme is another one in this long line of scams that the Vajpayee government is pursuing.

The Government of India owns today about 53 per cent (52.97 per cent to be exact) of VSNL shares, the rest has already been disinvested to small investors through the stock market. VSNL has a monopoly of a ...


Last Updated on Thursday, 24 January 2013 06:28
IPCL Disinvestment By Prabir Purkayastha
Saturday, 29 March 2008 00:00

The current disinvestment proposal of the Union Government is a change from the earlier Nehruvian vision of self-reliance to the more limited one of Reliance. Only this explains the Government’s decision to sell off 25% of the equity of IPCL -- declared as a navaratna in 1997 -- to a “strategic” partner. In the last round of bidding, it was clear that Reliance was the most likely candidate as the strategic partner, a scenario unlikely to change by hiking off the Baroda plant of IPCL and selling it to Indian Oil.

IPCL was set up in 1969 to provide vital raw materials for the Indian industry. Till Reliance entered this area, it was virtually the sole supplier.

If Re ...


Last Updated on Thursday, 24 January 2013 06:24

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