Business Standard

Centre should withdraw plan to sell assets worth Rs 40,000 cr in Telangana

In a letter to Union Finance Minister Nirmala Sitharaman, KTR said, instead of selling the assets, the Central Government should explore the possibilities of reviving and strengthening the PSUs

K T Rama Rao

K T Rama Rao

ANI General News
Stating that the BJP-led Central Government was planning to sell assets, including land allotted to different Public Sector Undertakings (PSUs) in Telangana, Minister for IT and Industries KT Rama Rao demanded the Central Government to withdraw such plans.
In a letter to Union Finance Minister Nirmala Sitharaman, KTR said, instead of selling the assets, the Central Government should explore the possibilities of reviving and strengthening the PSUs.
"If it is not feasible then the State Government should be given an opportunity to set up new industrial units in such lands," KTR said.
The Central Government's plans to sell PSUs are nothing but making a mockery of the State Government's rights, he said in the letter.
The Industries Minister pointed out that many States, including Tamil Nadu, were strongly opposing the Central Government's moves to sell PSUs set up in their respective territories.
Lashing out at the Central Government for its attempts to sell PSUs in the guise of disinvestment, he sought to know under what provisions or rights, the Modi Government was contemplating the sale of PSUs set up in different states.
"It was unfortunate that the Modi Government did not provide job opportunities to the unemployed youth. If the PSUs were reopened, they would provide direct employment to thousands and indirectly millions would be benefited," he said.
He further said that instead, the Central Government was focusing on withdrawing investment to facilitate the sale of the companies.
The BJP Government was selling Hindustan Cables Limited, Hindustan Fluorocarbons Limited, Indian Drugs and Pharmaceuticals Limited, HMT, Cement Corporation of India Limited (CCI) and Ordinance factories in Telangana as part of its disinvestment plans, he alleged.
"The state governments had allotted about 7,200 acres of land to these six companies. The value of these lands would be nearly Rs 5,000 crore according to governments rates and as per open market prices, the value could be over Rs 40,000 crore," he claimed.
KTR said that the state government had allotted lands to these companies at marginal prices and in a few cases, they were offered for free, since setting up of these units would generate employment to local people, besides facilitating industrial development.
When the Telangana government urged the Central Government to allot lands for the construction of Skyways to improve transportation in Hyderabad, the Center demanded compensation as per market price, he said.
"In this context, how can the Central Government sell the lands that were allotted by the State Government for setting up PSUs," the Minister questioned.
"I appeal to the Union Government to reconsider these plans, failing which Telangana Government will strongly obstruct the moves," KTR added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 20 2022 | 7:59 AM IST

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