Government looking to sell profit-making PSUs; it must strengthen, not sell them: Congress

The Congress on Friday alleged that the Centre is looking to sell profit-making public sector undertakings and said the government should not only do a re-think on embarking on a "distress privatisation drive" but should also strengthen PSUs.

Senior Congress leader Rajeev Shukla said he was unable to understand the economic model of the government alleging that on the one hand, it was increasing taxes on commodities such as petrol, diesel and cooking gas while on the other hand, it was looking to sell assets built by public money.

Crude oil prices are less than half of what they were during the UPA time, but domestic prices are sky-high, he said.

"Even actors were speaking out at the time, but now they are also silent," he said at a press conference here.

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"The government is visible on the ground as a result of these public sector undertakings. The government will be limited to North Block and South Block if you privatise everything," he said.

Shukla said the government should not only reconsider selling profitable PSUs, but they should be strengthened and there management be empowered.

Congress spokesperson Gaurav Vallabh said the government's mantra is "Hum Do, Humare Do, Jo Bhi Mile Bech Do".

"This is distress privatisation drive that the government is undertaking... the government should not be in the business of selling what was created by the previous government," he said.

Vallabh alleged that the government was weakening PSUs to "sell them" and said the Life Insurance Corporation was an example of this.