Former MLC K. Nageshwar has lamented that the Central government is handing over the valuable public assets to its “cronies” at a pittance in the name of privatisation.
Prof. Nageshwar, who is contesting as an independent from Mahabubnagar-Rangareddy-Hyderabad graduates’ constituency in the ensuing elections to the Legislative Council, said such indiscriminate privatisation would weaken the national economy resulting in “corporate loot” of the public assets. He was addressing staff and officers of different central public sector units including ECIL, BEL, BDL, Midhani and HAL during a seminar “privatisation and its true face” here on Thursday.
Lamenting that absence of strong public sector would result in private monopolies, he said cartelization of private manufacturers resulted in hike in cement and steel prices. Hyderabad was home to several prestigious central public sector undertakings and the BJP government’s privatisation policy would severely undermine employment and economy of the city.
The ruling Telangana Rashtra Samiti which criticised the Prime Minister Narendra Modi led government’s policies of privatisation during the GHMC elections recently was, however, conspicuous by its silence later, he said.
