Divestment no solution

Sir, - Your Editorial, ``New resolve for a thankless exercise'' (Oct. 11), welcoming the strategic sale of two undertakings - CMC and HTL - said it was only the start of a more resolute phase of Government action. It appears as though there is an urgency to achieve the budgetary goals for the sale.

But disinvestment should not be considered a part of revenue generation or a means to contain fiscal deficit. Will a private party ever sell when the market is down? So, what is the urgency to disinvest at this point of time?

The Government should find other means of raising revenue if necessary. Why not get rid of loss-making PSUs which would compensate for the earnings from disinvestment?

A. Jacob Sahayam,

Karigiri, TN.

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