With reference to the article “Tread warily on privatisation” (October 29), here are a few points. The proverbial remark that “business is not government's business” is nothing but exaggeration as the slowdown in economy does not look manageable. The government cannot shed its financial as well as social responsibilities through such comments. It is not considered prudent to overrule any predefined policy framework. In this context, if Air India’s outright sale, after absorbing its sizeable debts, fetches market-driven valuation, will eliminate further infusion of high cost bearing capital in future. From the utilisation point of view, how the proceeds of this non-tax revenue through disinvestment exercise is finalised is also a matter that again needs a well-devised policy framework.
Vivek P Nagpur
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