From Sandeep Sharma
GUWAHATI : The opposition Congress in Assam on Monday opposed BJP-led NDA government’s move for 100% foreign investment in oil sector PSUs in the country.
The commerce and industry ministry has floated a draft cabinet note seeking inter-ministerial views on a proposal to allow up to 100 per cent foreign investment under automatic route in oil and gas PSUs, which have an ‘in-principle’ approval for disinvestment, sources said.
The move, if approved by the union cabinet, would facilitate privatisation of India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL).
The government is privatising BPCL and is selling its entire 52.98 per cent stake in the company.
In a state here on Monday, Assam Pradesh Congress Committee (APCC) president and Rajya Sabha member Ripun Bora said that by such a proposal the Union government is all out to sell the nation’s resources starting with the sale and privatization of the country’s second-biggest oil refinery the BPCL.
Bora claimed that presently only 49% FDI is permitted through automatic route in public sector oil and natural gas companies without any dilution of domestic equity in the existing PSUs.
“But now a new clause has been proposed to be added that would allow 100% FDI in PSU’s where an ‘in-principle’ approval for disinvestment of a PSU has been granted by the government,” Bora said.
The government is already privatising BPCL and is selling its entire 52.98 per cent stake in the company. Expression of Interest has already been floated by giant oil conglomerates like Adani Group’s Vedanta along with two other bidders, Bora also said.
“Under such circumstances the day is not far when PSU’s in Assam like Oil India Limited and ONGC will not face foreign disinvestment threat. Where is the guarantee that Assam’s resources will not be sold out to foreign companies?” Bora asked.
Bora further questioned how can a party like the BJP that claim itself of being more nationalist than others can plan and connive to sell India’s assets to foreign companies? Can such acts not be termed as anti-national?
“A party that pounces on others to declare as anti nationslists at the slightest instance can they now put their hand on their hearts and claim to be nationalists after selling India’s resources one by one to foreign companies? By bringing about 100% FDI in oil PSUs the PM Modi is lying prostrate at the feet of the giant corporates of India and abroad. The resources that were built with intention of creating wealth for the people of India are now being sold one by one by the Modi led BJP Government and the Congress Party will fight tooth and nail against such anti-nationlist policies of the BJP government,” he said.
“The Congress demands that the goverment should not give approval to the cabinet note for the 100% FDI in oil PSUs,” he added.
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