Senior Trade Union Leaders Slam Government On Creation Of National Land Monetization Corporation

The Union Government is planning to set up a National Land Monitization Corporation for land and non-core assets monetization very soon according to Media Reports. This would held in monetizing the State owned surplus land assets in a systematic way. This new entity will work as an Asset Manager for lands owned by the Union Government and Central Public Sector Enterprises. www.indianpsu.com spoke to two senior most trade unions of the country who were highly critical of this move of the central government.

C. Srikumar, who is the National Executive Committee member of AITUC and also the Convener of AITUC PSU Unions, said “The decision of the government is to achieve its ultimate goal of handing over all national assets to the private corporate. Privatization of public sectors industries, banking Sectors, Insurance Sectors, Mineral resources, Railways and Defence Production are being seriously implemented by the present ruling dispensation. The advisors of the present Government and the private Corporate lobbies and its Medias have been justifying the total privatization of State Owned Industries even if they are making huge profits. The performance of the PSUs in our country are not inferior to any of the private sectors. After disinvestment of the PSUs now the next agenda of the Government is to drain out the properties and assets of the PSUs to the private corporate. For that purpose only the nefarious design of the National Monetisation pipeline has been introduced. The Trade Unions of our country has been relentlessly opposing and fighting against this outright and blind privatization. Due to the relentless struggle of the employees of public sectors, the Government is not able to fastly privatise the PSUs. Therefore as an alternation to disinvestment, the present Government is going ahead to hand over the huge infrastructure and other assets available with the Public Sectors to the private corporate to mint money. In this process the Govt. will remain a junior partner and will have only a small share of the revenue earned out of these assets. In the Budget also the Government has highlighted about Assets Monetisation. The Government claimed that monetization is an innovative and alternative means to raise finance. These assets of the public sector are being built up only with the peoples money. The argument of the Government is that the assets identified for monetization are those that are being underutilized. The fact remains that these infrastructural assets are almost being utilized by the public sector enterprises for their various activities, if at all some under utilization is there, it is only because of the Government’s apathy towards the public sectors. When people started criticizing about the Government’s move, the Government came with a statement, that it is not an outright sale, the Government is only transferring the revenue rights to private parties for a prescribed periods in return for upfront money, a share and commitment of investments in the assets. The fact remains that it is nothing but an exercise to hand over National Infrastructure to private corporate for a long period for some money, which is going to undervalued. The CPUs and their infrastructure, their assets etc., have played an important role in creating employment, especially for the down trodden classes, creating a self reliant economy and also are contributing for the growth and development of ancillary industries, MSMEs and the under developed areas. Any decision of the Government to hand over the national assets for a loot by the Corporate Sectors is against the interest of the economy and social justice of our country. The workers of PSUs and the Trade Unions will fight back against this major anti-PSU policy decision of the government”

Thomas Franco, Former General Secretary AIBOC and Joint Convener People First, said “it is atrocious. The government which is elected to govern does not have authority to sell everything. Can a person staying on rent sell the house ? This Government has been planning to sell everything . The lands were purchased by the State Governments for a specific purpose. For example Land purchased for telecom cannot be sold for any other purposes . So it will be sold to Reliance Jio Mukhesh Ambani. Some years back SBI formed SBI Infrastructure Management Solutions Pvt Ltd. Now I doubt that SBIs huge assets will be put on sale through this company. The whole game plan is to give everything to few Corporates. It’s already done through NCLT. Now more will be given through National Asset Monetisation Pipeline and National Land Monetisation Corporation. Two years back PM announced Rs 111 lakh crores for infrastructure investment. Nothing much has been done. Now they are selling existing infrastructure. 6 lakh crore through NMP is just 5% of the target. So for reaching 100% they will sell everything. This will be bankruptcy. The entire country will be owned by Ambani, Adani , Agarwal and few others. Then what will be the role of Parliament? We are going towards monopoly and monopsony. Consequences will be dangerous. People are already agitating. More agitations can be anticipated. Govt should stop this ill advised plans immediately. If they can’t govern they should leave”.