Press Statement

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

The Polit Bureau of the CPI(M) strongly condemns the BJP government’s decision to sell its entire equity stake in the National Hydro Power Corporation to the National Thermal Power Corporation for Rs 4500 crore. The government has already declared its intention to privatise NTPC through large-scale disinvestment. It is also reported that the government proposes to sell off its profit making units in Singrauli, Farakka and Ramagundam. With its latest decision to sell the NHPC to NTPC, the NTPC is converted into a conduit, for privatisation of major public sector power projects. The decision taken in such a hurry, keeping the managements of both the NHPC and the NTPC in the dark, coupled with the decision to privatise power distribution for every city with a population of one million, sounds the alarm bells for the total liquidation of the entire public sector in power, in the shortest possible time.

Having proved its bankruptcy in resource mobilisation, the BJP government is resorting to these sellouts as a short cut to fund its fiscal deficit.

The PB demands that the proposal to sell away NHPC and other profit making units be given up forthwith.