Post News Network
Bhubaneswar, April 15: Strong political opposition is building up against the Centre’s plan to disinvest in Nalco.
Chief Minister Naveen Patnaik has said his party is opposed to any move to disinvest from Nalco, which is a profit-making venture. “Nalco is a very profit-making PSU (public sector undertaking) and I don’t think disinvestment should take place there,” Patnaik told the media upon his arrival here from New Delhi.
BJD spokesperson Amar Satpathy told mediapersons, “Our party opposes this proposal and would continue to do so.” The Congress has also opposed the proposed move of the BJP-led NDA government to go in for disinvestment in Nalco.
“The Orissa Pradesh Congress Committee (OPCC) had opposed a similar move by the previous UPA government. We would also oppose the decision of the BJP government,” said OPCC president Prasad Harichandan.
The state unit of the BJP, which earlier had strongly opposed a similar Nalco disinvestment proposal floated by the previous UPA government, has now been caught on the wrong foot as it reacted cautiously to all-round opposition from political parties. “The Cabinet is yet to take a final call on this and we will take a stand thereafter,” said state BJP president KV Singhdeo.
The Centre has initiated the process to divest five to 15 per cent stake in 13 state-owned firms, including Nalco, in a move that will fetch the exchequer `41,000crore. The Centre holds 87.15 per cent stake in Nalco and is planning to disinvest 12.15 per cent stake by way of selling its shares.