KTR condemns Centre's plan to sell Rs. 40,000-cr assets

HYDERABAD: Telangana's Minister for IT & Urban Development K T Rama Rao has said the BJP-led Central Government is proposing to sell off assets worth Rs. 40,000 Cr belonging to Telangana.

He has demanded that the attempts to sell the public property, including the land allotted to some public sector undertakings (PSUs) be halted forthwith.

The minister has strongly condemned the plans of the Centre.

The minister said on Sunday that the State Government had allotted over 7,200 acres to six different companies and that the open market rate of the land parcel could be over Rs. 40,000 cr unlike what the Centre believed it as a niggardly Rs. 5,000 cr.

He felt that instead of selling the assets, the Union Government should explore the possibilities of reviving and strengthening the PSUs.

"If it is not feasible, then the State Government should be given an opportunity to set up new industrial units in such lands," KTR said.

In a letter addressed to Union Finance Minister Nirmala Sitharaman, KTR said: "The Central Government's plans to sell PSUs are nothing but making a mockery of State Government's rights."

He pointed out that many States, including Tamil Nadu, were strongly opposing the Central Government's moves to sell the PSUs. Lashing out at the Central Government for its attempts to sell PSUs in the guise of disinvestment, he sought to know under what provisions or rights, the Modi Government was contemplating the sale of PSUs set up in different States.

He also said that if the PSUs were reopened, they would provide direct employment to thousands and indirectly millions would be benefited. The State Government had allotted lands to companies at marginal prices and in a few cases, they were offered for free, since setting up of these units would generate employment to local people, besides facilitating industrial development.

"I appeal to the Union Government to reconsider these plans, failing which Telangana Government will strongly obstruct the moves," KTR asserted.

The BJP Government was selling lands allotted to Hindustan Cables Limited, Hindustan Fluorocarbons Limited, Indian Drugs and Pharmaceuticals Limited, HMT, Cement Corporation of India Limited (CCI) and Ordinance factories in Telangana as part of its disinvestment plans, he alleged.