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Tuesday, October 8, 2019

Selling PSU to private/foreign players will further imperil our Nation as a whole.

The advocates of Privatization are citing reasons such as lack of quality services/products in the PSUs for their current predicament.

We, bankers ourselves being in the Services sector know that one of the major reasons for lack of quality services is due to shortage of staff & lack of quality infrastructure.
We all must have heard about Train18, (semi high-speed rail) whose engine was indigenously built by Integral Coach Factory, Chennai. The product was deemed highly successful & received rave reviews , even globally.

What did the Govt do.? Instead of providing more funds, promoting the product, it shut off the entire production citing various lapses (all bureaucratic & administrative).
At a time when India already imports 80% of its Oil , and economy has suffered repeatedly due to the vagaries of Global Oil prices, BPCL is being sold, with certain news reports suggesting Saudi Aramco might buy a stake in it , this means we'll be further exposed to the Global Oil economy.


Lucrative foreign air destination routes were allotted to foreign airlines over the years, depriving Air India of these profitable routes.
Every single major nation has its own state owned airlines, but soon India will not have any. Imagine our senior scientists, military personnel(with important documents) travelling on foreign airlines. How secured will they be ??


When whole world is trying to develop & implement 5G Telecom technologies indigenously for the fear that their national data might get tampered with, our country is selling BSNL/MTNL, & encouraging foreign companies like Huawei to enter & invest heavily.


In a developing country like ours, PSUs are not only for providing quality services, generating profits. They serve purposes much beyond that- providing for the socially & economically deprived people.


They are Strategically important assets. Selling them to private/foreign players will further imperil our Nation as a whole.


from 
Saumyadip Moitra  wall

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