March 6, 2004
Press
Statement
The
Polit
Bureau
of
Communist
Party
of
India
(Marxist)
has
issued
the
following
statement:
The
Sale
of
India
:
ONGC
Disinvestment
A
U.S.
financier,
Warren
Buffet,
who
heads
an
Investment
Company
called
Berkshire
Hathaway,
is
reported
to
have
been
the
main
buyer,
through
his
nominees
of
course,
of
the
ONGC
shares
which
were
sold
on
March
5.
Buffet
has
close
links
with
the
oil
interests
in
California,
and
is
part
of
the
inner
circle
of
the
new
California
Governor,
Arnold
Schwarzeneger,
whose
elevation
to
office
was
ensured
through
a
massive
use
of
money-power
that
helped
to
ease
out
the
duly-elected
former
Governor,
before
the
completion
of
his
term,
through
an
apparently
democratic
referendum.
Buffet
and
the
coterie
around
the
new
California
Governor
also
have
close
links
with
the
"military-industrial
complex"
(to
use
President
Eisenhower's
term)
and
with
Right-wing
and
fascist
elements.
American
oil
interests
have
of
late
been
trying
to
capture
the
world's
oil
resources.
The
occupation
of
Iraq,
the
incursions
into
Central
Asia,
the
attempt
to
topple
Hugo
Chavez,
and
even
the
plans
to
redraw
the
geographical
boudaries
of
Saudi
Arabia
are
all
part
of
this
global
effort.
It
is
sad
that
the
Indian
government
is
voluntarily
surrendering
the
fate
of
our
country
to
these
global
sharks
by
giving
them
control
over
our
own
oil
resources.
It
is
even
sadder
that
the
Disinvestment
Minister
actually
expresses
glee
over
the
"oversubscription"
of
ONGC
shares
when
this
is
just
a
fall-out
of
the
take-over
of
our
oil
resources
by
American
oil-interests.
Obtaining
control
over
our
own
natural
resources
had
been
the
result
of
a
bitter
and
prolonged
struggle.
In
a
sense
the
real
decolnization
of
the
third
world
had
occurred
not
with
the
handing
over
of
formal
political
power
to
local
politicians,
but
when
the
third
world
had
wrested
control
over
its
own
resources.
Not
surprisingly
this
wresting
control
had
invited
bitter
opposition
from
the
imperialist
powers,
leading
to
wars
(as
in
the
case
of
Egypt),
coup
de
etats
(as
in
the
case
of
Iran),
and
economic-diplomatic
conflicts
(as
in
the
case
of
India).
Surrendering
control
over
these
resources
back
again
to
the
imperialist
interests
represents
a
reversal
of
decolonization
with
a
vengeance.
And
doing
so
for
reasons
as
flimsy
as
"raising
resources"
when
thousands
of
crores
of
rupees
have
been
handed
out
as
tax
cuts
to
the
rich
is
an
unforgivable
offence.
The
argument
that
the
proposed
sale
of
ONGC
equity
does
not
represent
handing
over
control
is
untenable.
When
the
sale
is
to
a
big
foreign
buyer,
retaining
control
would
be
well-nigh
impossible.
And
as
for
the
glee
over
"oversubscription",
in
the
case
of
any
exhaustible
resource
the
notion
of
a
"normal
price"
of
the
equity
(any
excess
over
which
can
be
called
"oversubscription")
is
absurd.
The
market
can
never
express
the
true
value
of
these
resources;
they
can
only
be,
and
must
be,
socially-owned.
That
such
a
sale
of
India
is
being
undertaken
by
a
caretaker
government
without
any
accountability
to
the
Parliament
and
the
people
compounds
the
crime
and
is
simply
unacceptable.
The
Polit
Bureau
of
the
CPI(M)
draws
the
attention
of
the
Election
Commission
to
invoke
the
code
of
conduct
under
force
currently
to
stop
this
illegal
sale
of
India.
The
Polit
Bureau
calls
upon
the
Indian
people
to
recognise
the
true
character
of
this
Vajpayee
government
and
force
it
through
popular
struggles
to
rescind
such
anti-national
moves.