Sonowal Government Indifferent about BPCL Privatization: Debabrata Saikia

STAFF REPORTER

GUWAHATI: The Leader of the Opposition in the Assam Legislative Assembly, Debabrata Saikia has derided the Chief Minister of Assam, Sarbananda Sonowal for displaying an indifferent attitude towards the Central government’s decision to privatize Bharat Petroleum Corporation Limited (BPCL) and four other PSUs and quizzed the CM about the reason for not discussing the matter with the Central government. Seeking a clarification, Saikia addressed a letter to the CM on Sunday.

Reacting to Sonowal’s recent comment that he had no personal knowledge of the move to privatize BPCL, Saikia stated “such a casual attitude towards an issue of critical importance for Assam and its people does not befit a Chief Minister who attained power by promising to protect jaati, maati aru bheti.”

Saikia stressed that the issue was extremely important for Assam because privatization of BPCL would entail privatization of its subsidiary Numaligarh Refinery Limited (NRL), “which the people of our state obtained under the Assam Accord after making considerable sacrifices during the Assam Agitation.”

Saikia further pointed out: “you could have easily verified whether the imminent privatization of BPCL/NRL is true or not, with one phone call to New Delhi. Since you have not deemed it necessary to do so, I feel it incumbent upon me as Leader of the Opposition to encapsulate the salient points to alleviate your ignorance. On 30th September, 2019, a group of Secretaries of the Government of India held a meeting and cleared disinvestment of BPCL, NEEPCO and three other PSUs. Subsequently, on the 11th of this month, the Department of Investment and Public Asset Management (DIPAM) hurriedly invited requests for proposals from eligible parties to work as transaction and legal advisers, as well as asset valuers for BPCL, NEEPCO etc. Last but not the least, the disinvestment proposals are expected to be accorded Cabinet Approval by the end of next month.”

Debabrata Saikia stated that the Modi government had paved the way for privatization of BPCL as far back as 2016 by scrapping the Acts of Parliament pertaining to nationalization of Burmah Shell and Caltex and formation of BPCL. “The removal of this legal hurdle in 2016 itself signifies that the Modi government had decided quite some time ago to privatize the profit-making BPCL/NRL and hand it over on a platter to crony capitalists. For the record, I may mention that BPCL shares have gained 42% since the beginning of 2019 and the company has been registering profits ranging from Rs 5,000 crore per annum to Rs 8,000 crore per annum during the last four-five years.”

The Leader of the Opposition stated that since a substantial quantum of public funds had been already used for asset creation and execution of various projects under NRL, “it will be a great betrayal of public interest if BPCL/NRL is privatized now and the fruits of investment of public funds are allowed to be enjoyed the likes of Reliance Industries, which had earlier refused to come to Assam and execute the gas cracker project.”

Debabrata Saikia urged the CM to “put Assam’s interest above your party’s interest for once at this decisive juncture and prevail upon the Central government to abandon the plan for privatizing the profitable NRL, which is an outstanding rarity among Assam-based PSUs. In case you are unable to prevent the imminent sacrifice of NRL by the Modi government at the altar of propitiating crony capitalists, then I am constrained to advise you to desist from misleading the people of Assam and fostering false hopes in their hearts.”

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