The Kerala Government move for disinvestment of 26 per cent shares of State-owned public sector undertakings (PSUs) for mobilising Rs.1,000 crore to rein in the revenue deficit, is in the wrong direction. The proposal if implemented would have far-reaching consequences and set a mistaken example.
The Finance Department of Kerala is a poorly run one. The very instance is, their deploying of police, excise, and sale tax staff on highways to extract money from passengers. In order to protect the government interests, there are better ways other than selling earnings made by our ancestors. If not checked, this government would sell land and other properties owned by government colleges and other public sector institutions.
The government could not sell loss making establishments as there are little takers for them, It can sell only profit making ones. Absence of a professional management in public sector establishments is the fault of the government. The unaccountability of the staff there may be another factor.
The ministry which is in power for a short span of time has no right to sell the public properties. The move should be out rightly opposed.
K A Solaman
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