New Delhi: With Narendra Modi-led government signalling its intention to hasten disinvestment, Congress on Thursday said that they should be extremely vigilant while claiming that there was "undervaluation" and execution of "sweetheart deals" during the earlier NDA dispensation.
"Part-time Finance Minister and part-time Defence Minister has set large disinvestment targets to meet the deficit. If disinvestment and NDA are juxtaposed, then a lot of questions arise," party spokesperson Rajeev Gowda told reporters at the AICC briefing.
He alleged that during the earlier NDA government several state-owned hotels were sold at a fraction of the cost and Videsh Sanchar Niger Ltd (VSNL) was sold without valuing its assets including undersea cables and land.
"We have been deeply disappointed with the previous round of disinvestment... We may end up with the same kind of disinvestment. It is important for all of us to be extremely vigilant when the NDA government gets into its disinvestment mode," Gowda said.
The previous examples raise doubt that disinvestment may not be done in a proper manner this round as well, he added. Clarifying Congress' stand on disinvestment, Gowda said the party was not against it but wants to be cautious with regard to the processes and methods employed.
There have been reports that the Finance Ministry is planning to hit the market to sell a five per cent stake in Steel Authority of India Ltd (SAIL) by October, which would be followed by a 10 per cent stake dilution in Coal India.
The Department of Disinvestment has also identified a dozen other companies in which the government could offload shares this financial year.
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