NMP is 'Modi Mudra Pipeline Scheme': Subodh Kant Sahai

BJP has put the national assets on grand clearance sale – AICC Leader

BJP has put the national assets on grand clearance sale – AICC Leader

Jammu Sep 01 (KNS): Former Union Minister and Senior All India Congress leader Shri Subodh Kant Sahai  has said that BJP Govt. has put the national assets on grand clearance sale through National Monetization Pipeline (NMP), which he described as “Modi Mudra Pipeline Scheme”, stating that this will have grave negative consequences for the nation.

As per the statement issued to Kashmir News Service, addressing a Press Conference at PCC HQ Shaheedi Chowk Jammu, today alongwith

  JKPCC Chief Shri G.A. Mir and a galaxy of Senior leaders including Former Ministers and Vice Presidents Shri Mula Ram, Shri Raman Bhalla, Chief Spokesperson Shri Ravinder Sharma, General Secretaries Th. Balwan Singh, Shri Yogesh Sawhney, Th. Manmohan Singh, Co-treasurer Shri Rajnish Sharma, DCC President Jammu(R) Shri  Hari Singh Chib besides others,  Shri Sahai  said that there is a genuine concern that the NMP which lead to monopolies (or, at best, duopolies) in  key sectors such as ports, airports, solar power, telecom, natural gas pipeline, petroleum pipeline and warehousing.

Asserting that a big lie has been exposed, the former Union Minister said  that the Prime Minister Mr. Narindwer Modi and his Ministers have vociferously  denounced  the Congress Govt. and all other previous Governments , including, ironically, Atal Behari Vajpayee Govt. for doing nothing and building nothing for 70 years, as  if India had attained Independence only in May 2014. However, on August 23, 2021 when the Finance Minister released a list of assets  that were proposed to be monetized . she failed to disclose when those assets were built. Transfer is, during the maligned 70 tears, he added.

Shri Sahai raised serious  question on the process and manner in which Modi Govt. operates reflecting it as a conspiratorial manner, as there were no discussions in the Parliament, there was no draft paper on NMP, there were no consultations with the stake holders, especially the employees and trade unions and the policy was hacked in secrecy and announced suddenly.

Referring  the long list of assets proposed to be monetized by the Central Govt.,  the Senior Congress leaders said that by a stroke of pen, Mr. Modi and his Finance Minister have threatened to reduce India’s Public Sector assets to near zero. They claimed that the Govt. will collect a rent of 1.50, 000 crore as rent per year  and hold on to a piece of paper that it is the owner of the assets. They also boost that the assets will return to the Govt. at the end of the transfer period.

Pointing out glaring  absence of criteria in the collection of PSUs brought  under the NMP, he said that the annual revenue currently being yielded by the choosen assets , has not been disclosed, there is no clarity  on jobs and reservations, whether the present number of jobs ibn the monetized units will be maintained and eventually enhanced ? will reservation of SC, ST and OBCs be maintained or abolished, he questioned .

The Former Union Minister said that the policy of disinvestment and privatization has evolved over the years since 1991 but certain criteria was also set for  choosing the units to be privatized . Among them were :-

  1. PSUs in a strategic sector will not be privatized.
  2. Chronically loss – making units could be privatized.
  3. A PSU having a minimal market share for its products could be  privatized.
  4. A PSU will be privatized if it will promote competition; it will not be privatized if it may lead to a monopoly.

These criteria have been thrown out of the window and no alternative criteria have been announced. Surprisingly, Railways has been removed as a strategic sector. It is now classified as a non-core asset even while market economies such as the UK, France, Italy and Germany have retained railways (or the bulk of the country’s railway system) in the public sector.

He said that there is every possibility that the prices will rise  in  many sectors, as once monetized , the PSUs will ceased to  be price stabilizer in the market. There is  down to be price fixing  and cartelization. This has been  count to be true in the so called competitive market in cement. The united kingdom was shaked to find it true in the banking  industry.

Stating that nothing has been spared, Shri Sahai read out the long list of assets to be monetized by the Modi Govt. including roads (26700 Kms.), Hydle & Solar Power Assets(6000 MW), Natural Gas Pipe Lines( 8154 Kms.), Petroleum Products Pipeline(3930 Kms.), Warehousing Assets (210,00000 Mts.), Railway Stations (400 ), Passenger Trains Operations (90) , Goods Sheds (265), Konkan Railway & Dedicated Freight Corridor, 286000 fiber and 14917 telecom towers, 25  airports and 31 projects in 9 major ports, and 2 national stadia.(KNS)

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