Consult with States before taking important decisions: Stalin to Modi

Chennai: Chief Minister M K Stalin has urged the Centre to reconsider its decision to ‘privatise’ Public Sector Undertakings (PSUs), saying they play a key role in the country’s industrialisation and self-reliance goals.

Stalin wrote to Prime Minister Narendra Modi, urging him to reconsider the National Monetisation Pipeline (NMP) scheme and take the views of public sector undertakings that will come under the plan and the State governments before taking any decision on its implementation.

“Taking into account the current economic situation of the country, this sort of a massive privatisation activity, no matter what name you call it, will lead to invaluable government assets falling into the hands of a few groups and large private institutions,” he said.

Referring to Centre’s National Monetisation Pipeline, Stalin said it was not clear what kind of impact it will leave on small and medium industries and the employees therein.

Stalin said that irrespective of the nomenclature, considering the country’s present economic scenario, such a ‘large privatisation’ will result in government assets going into the ‘control’ of large corporations.

The letter comes after Stalin criticised in the State Assembly on Thursday the Central government’s National Monetisation Pipeline plan saying privatising or leasing out Public Sector Undertakings (PSUs) would ‘not be good for the welfare of the country’.