The Hindu : NLC disinvestment proposal opposed

Online edition of India's National Newspaper
Wednesday, Mar 20, 2002

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NLC disinvestment proposal opposed

By Our Special Correspondent

NEW DELHI MARCH 19. Cutting across party lines, members from the southern States in the Lok Sabha today urged the Government not to accept the Disinvestment Commission's recommendation to disinvest the Neyveli Lignite Corporation (NLC).

Raising the issue during zero hour and immediately finding support within the Congress benches, Vaiko of the MDMK — an NDA ally — said the NLC had been continuously making profit from 1976-77 and there was no justification in disinvesting it.

Describing the NLC as the `pride of Tamil Nadu', Mr. Vaiko said the move to give ``NLC on a platter to any one of the monopoly companies is not to be tolerated.''

The corporation had earned a profit of Rs. 724 crores as against an investment of around Rs. 600 crores in the current financial year. Prominent among the Opposition members to support him was the former Prime Minister, Chandra Shekhar, who questioned the need for disinvesting such a profit-making undertaking.

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