Telangana Minister for IT, Industries and Urban Development K. T. Rama Rao has alleged that Narendra Modi led BJP government at the Centre is selling off ₹40,000 crore assets belonging to the Central public sector undertakings located in the State as part of its disinvestment and monetisation plans.
In a letter addressed to Union Finance Minister Nirmala Sitharaman on Sunday, Mr. Rama Rao, who is also the working president of the ruling Telangana Rashtra Samithi (TRS), said the Centre was trying to sell about 7,200 acres land belonging to Hindustan Cables Ltd, Hindustan Fluorocarbons Ltd, Indian Drugs and Pharmaceuticals Ltd, Hindustan Machine Tools, Cement Corporation of India and Ordnance Factory in and around Hyderabad.
The lands were allotted to the companies by the State government in the past and at the present government rates the lands could be worth around ₹5,000 crore. In the open market they would be worth around ₹40,000 crore, Mr. Rama Rao said adding that in the event of closure of those Central PSUs the Centre should establish new industrial units or transfer the lands back to the State government.
Demanding that the Centre withdraw its decision to sell lands of the sick PSUs in Telangana or monetising their assets, Mr. Rama Rao requested that it be allowed to utilise the lands for development of Telangana. He alleged that the Centre was demanding compensation for portion of lands belonging to Central government institutions in the City at market rates for their utilisation for public utility needs such as skyways and others.
Stating that the Centre had no right to sell off the lands given by the Sate government for establishing Central government institutions, the Telangana Minister said such decisions of the Centre were amounting to violating the rights of State governments. Instead of providing employment opportunities to the youth, the Modi government had been biding time by telling “stories” and selling off the PSUs.
The Central PSUs not only provided employment opportunities and contributed to the country’s economy but also stood as symbols of country’s development and self-esteem, Mr. Rama Rao said instead of sanctioning institutions to Telangana as promised in the Bifurcation Act the Centre was on a selling spree of PSUs at throwaway prices and requested Ms. Sitharaman not to allow monetisation of the PSUs’ assets in Telangana.
He requested the Centre to examine the possibilities to revive those PSUs or set up new industrial units on those lands as Telangana people and the State government would believe that the physical assets of those PSUs rightfully belong to them. The State government and TRS would strongly oppose any move by the Centre to sell-off the lands of those PSUs, he stated.
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