Rethink Nalco decision: Left tells UPA

Bhopal: CPI-M on Saturday asked the Centre to reconsider the move to divest 10 per cent stake in Nalco and Neyveli Lignite Corporation (NLC) and to withdraw service tax on postal sector.

"The decision to sell 10 per cent equity in Nalco and NLC is a clear violation of the agreed CMP. The government should reconsider the move. Instead of selling assets, it should explore other means to generate resources," CPI-M politburo member and MP Sitaram Yechury said.

Dismissing as "illogical" the government's contention that money earned from disinvestment would be utilised in social sector, he said a huge sum of around Rs 1,70,000 crore corporate tax was pending.

"If a part of it is collected, many activities can be carried out in the social sector," he said.

Similarly, in the name of widening the tax net, 12.25 per cent service tax has been imposed on postal services like money order, hitting hard the poor, he said adding, that the decision must be rolled back forthwith.

Warning that pressure by Left parties on the Congress-led government at the Centre would be stepped up to prevent it from pursuing wrong economic policies, Yechury said the coordination committee would meet soon to evaluate implementation of CMP with the focus on the farm sector.

Hitting out at the Centre for rising prices of essential commodities including foodgrains, pulses and vegetables, he said forward trading should be stopped immediately as it is not in the interest of the country.

While mounting pressure on the UPA government to stick to the CMP, Left parties would also not allow communal forces any political gain, Yechury said.

The known goal of the Left parties was to have a non-BJP and non-Congress secular government by third force, but it had not been possible to secure such an alternative, he said adding, it could be achieved through a people's movement.

The Centre took several pro-people measures including the national rural employment guarantee programme due to pressure from Left Parties, he said adding, that a bill on tribal rights was expected to be brought soon to safeguard their interests.

"In many cases, we have been successful in stopping the Central government from deviating from the agreed CMP," he said.