January 15, 2008

Press Statement

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

On BSNL Disinvestment

The Polit Bureau of the CPI(M) expresses serious concern at the statement by the Union minister of communications that the government proposes to disinvest 10 per cent shares in the BSNL. The reason given for the disinvestment is that funds are required for the development and expansion of the BSNL. This is baseless as the BSNL has Rs. 4000 crore surplus which can be used for this purpose.

The BSNL, a major public sector unit in the telecom, is already disadvantaged due to the problems created for its acquisition of GSM lines and other measures necessary to meet the competition from private operators.

The CPI(M) strongly opposes the proposal for its disinvestment. It calls upon the UPA government to desist from such a move, which will be detrimental to the BSNL and public interest.