March 01, 2012

Jalandhar Investors Deeply Upset Over Diversion of PSU Cash For Vote Bank Subsidies

Jalandhar Investors are very upset over Government directing Government Managed Public Sector Undertakings ( PSU s)  on how to use their cash surplus. It seems that the days of Princely States ( Maharajas) are not over  when there was No difference between the State's Treasury and Personal finances of the Maharajas

Cash rich PSUs are Navratnas not Kamdhenus. PSU s surplus should be used for business purposes according to what their Managements feel is best for the companies. ( ONGC and Coal India should make India secure in crude oil and coal by acquiring energy assets abroad ). Government should not use PSU resources to bridge its current decicit. Instead Govt should do reduce the runaway subsidizes ( especially Urea and Diesel ) and also reduce the bloated bureaucracy costs.( By having a 6 day week bureaucracy can be reduced by 20 % ). Let India`s National Interests take precedence over Vote Bank politics.

Selling the Family Silver ( in this case PSU `s Cash Reserves)is not a very wise move . Think Long Term . Think about India ( not just Vote Bank Constituencies ). India has many politicians but no statesman.

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