KTR demands Centre to withdraw proposal of selling PSUs

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Hyderabad, June 19 (PMI): Minister for IT and Industries KT Rama Rao slammed Prime Minister Narendra Modi for initiating the proposal of selling the assets of Public Sector Undertakings(PSUs) in Telangana as part of the disinvestment process.

KTR on Sunday wrote a letter to Union Finance Minister Nirmala Sitharaman, demanding the cancellation of disinvestment proposal and the sale of its assets immediately.

The Minister said when the Union government was set up the Hindustan Cables Limited,  Hindustan Floro Carbons Limited, Indian  Drugs and Pharmaceuticals Limited,  HMT, Cement Corporation of India Limited (CCI) and Ordinance Factory in Telangana, the State government had allocated 7,200 acres of the land to  to these six companies. According to government estimates, the value of these lands would be nearly Rs 5,000 crore and as per open market prices, the value could be over Rs.40,000 crore.

The State government had allotted lands to these companies at marginal prices aimed at generating employment to local people, besides facilitating industrial development. However, since Narendra Modi assumed the post of Prime Minister, he has started selling all PSUs instead of strengthening them, KTR said.

“How can the Centre sell the lands that were allotted by State Government for setting up PSUs. The Union government’s move to sell these assets would be tantamount to selling Telangana assets,” the Minister said.

KTR asked the Union government to explore possibilities of reviving and strengthening the PSUs. If it is not feasible, these lands should be transferred to the State government  to set up new industry units.

The IT Minister alleged that Narendra Modihas has been deceiving the youth by not providing jobs and is focusing only on selling of public assets.

Explaining the dual standard of union government, KTR said when Telangana government urged allotment lands for construction of Skyways to improve transportation in Hyderabad, the Centre demanded compensation as per market price. Now, Narendra Modi is planning to sell PSUs by deceiving people of Telangana. (PMI)