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Letters to BS: Let's get real, merging PSUs doesn't amount to privatisation

Merging one public sector undertaking with another, transferring stake from one pocket to a different one is a sort of game played by all successive governments

Business Standard 

PSU

This refers to the editorial “Disinvestment blues” (September 4). Transferring the government’s stake in BPCL to Indian Oil may help the government meet “disinvestment targets” but, it is by no means a disinvestment. Merging one public sector undertaking with another, transferring stake from one pocket to a different one is a sort of game played by all successive governments — towards meeting disinvestment targets — year after year but such moves do not either amount to “privatisation” nor do they support the oft-repeated slogan “government has no business to be in business”. Such mergers might help cost reductions by way of synergies in operations and may also create mega, global size, business entities, but, for heaven’s sake, let’s get real, call a spade a spade!

Krishan Kalra, Gurugram


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First Published: Wed, September 04 2019. 21:54 IST
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