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PSU Mega Sale & Vizag Steal | Midweek Matters | Parakala Prabhakar (3)
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Union Government wants to sell away public sector undertakings and as a part of its privatisation drive wants to sell Vizag Steel Plant. In this week's episode I question the economic rationale behind the government's intent for privatisation. Reforming the PSUs means professionalising its management, eliminating government interference, so that they can be run efficiently and profitably. The meta data from across the world does not support the contention that public sector is necessarily inefficient. Rulers in Delhi are unaware of the struggle of the people of AP to achieve the Vizag Steel Plant, and selling it away is nothing but disrespecting the peoples' emotion that’s invested in the industry. Some chosen corporates could be the beneficiaries of this mega sale of PSUs and it would lead to distortion of our democratic fabric. There is a real danger that country's economic landscape would be dominated by a few oligarchs, monopolies and crony capitalists.
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