February 6, 2002

Press Statement

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

Making a mockery of the Prime Minister's pronouncement that his 
government does not want to liquidate the public sector, the Union 
Cabinet has taken a major decision to part with blue chip 
profit-making public sector companies. The prices at which the 
government equity in IBP and VSNL has been sold constitute a big 
bonanza for the private sector. The hard-earned assets of the Indian 
people built over half a century are being sold at throwaway prices.

Clearly, this decision has been taken to bridge the burgeoning fiscal 
deficit on the eve of the annual budget. Such a distress sale makes 
neither economic nor common sense. It is akin to a farmer selling his 
land to meet his daily expenditure.

The decision to impose a voluntary retirement scheme on government 
employees will further aggravate the already grim employment 
situation. More than 11 lakh employees are slated to lose their jobs.
The CPI(M) strongly protests against these anti-people policies and 
warns the Vajpayee government that this unrestricted sale of India 
will not be accepted by the Indian people.


cpim website: http://www.cpim.org
people's democracy website: http://pd.cpim.org

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