The cabinet committee on economic affairs cleared the decision of selling BPCL (Barath Petroleum Corporation Limited) and 4 other (Container Corporation of India, Shipping Corporation of India, Tehri Hydro Development Corporation and North Eastern Electric Power Corporation) Public sector units.
Public Sector Units (PSUs) were established by the govt in India for various reasons like to promote industries, provide employment, promote competition among industries etc. Till now the PSUs act as a social welfare scheme that rescues people from getting exploited by private companies. Also, it employs many citizens providing them with social security. PSUs will pay their employees more than a private concern, provide them with job security etc.
Why is it a concern?
As we know the ruling NDA govt is a capitalist regime and we chose them to rule. Now here we fight between the ideologies of socialism and capitalism. Constitution of India says India is a Socialist country but we moved towards capitalism in the economy during the 1990s through Liberalization, Privatization and Globalization. The transformation of the Indian economy was fruitful in many terms but we are yet to know whether this transformation is a success. Because of this lead to the development of the Indian economy as a market for the goods of foreign countries. Already we are in a dilemma that does this kind of privatization or globalization is empowering Indian people or not? Now we are selling PSUs that provide social & employment security to the employees. Does this decision of selling a PSU to a private company will empower people of India?
Why are they selling?
Govt says these PSUs are sold to raise funds to provide social welfare measures and schemes for the people. But just think this is what the PSU is doing now (providing social welfare measure).
NDA a capitalist regime selling PSUs, privatizing the concern - to provide social measures. Does this statement make sense? okay, let us talk about the decision of the govt in RCEP issue (Regional Comprehensive Economic Partnership). Its an economic partnership among India, ASEAN nations and 5 other countries including China. India refused to join the partnership. Because if India joins the RCEP, it should reduce the import duties for the products from the partner countries.
Here India's concern is if it is done Chinese goods will be dumped abundantly in India that would affect the domestic manufacturers as already Chinese goods are overflowing in the market. Now the govt took the opposite direction to the Globalization. A capitalist regime against Globalization (free trade). Thus it is proven that it may lead to neo-colonialism.
On Nov 25, the worker of BPCL from Tamil Nadu was about to protest against the govt's decision on selling a profit-making Maharatna company but they were denied to protest. Is India is against constructive criticism?
As the motto of Nistaar is to induce liberation among the people - Liberation is attained by rational thinking. Rational thinking is just raising Questions.
Privatising PSUs may make people neo-slaves
Where the Funds raised by disinvestment of PSUs will be used?
If at all the funds used for social welfare measures would empower people or it will be a mere manipulated data like Open defecation free India data (source NSO report)
How will be a large democratic developing nation in the hands of Private? Here comes the neo-imperialism, neo-slavery, neo-colonialism etc.
[…] will be disinvestments of PSUs, this is an expected announcement. We have already discussed in BPCL goes out of hand that disinvestment of PSUs that are loss-making is good but why should we sell off a profit-making […]
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