You are perhaps aware that I was the first and founding Chairman& Managing Director of the Videsh Sanchar Nigam Ltd (VSNL), one of the prestigious Public Sector Undertakings (PSU). While I was in the Department of Telecoms (DOT) I had struggled in fact, waged a campaign for separation of telecoms from the Posts, constitute telecoms into a corporation and eventually privatizing it after it learns how to compete with p-telcos...These days I am engaged in campaigning for disinvestments in the BSNL and the MTNL also, both of which are very profitable companies... It is no longer necessary that the state itself should invest and mange in those industries and businesses which could be done by companies invested in by Indian citizens from their savings. A large property and share-holding citizenry alone can ensure the continuance of liberty and freedom and democracy...The Chinese communists being Asians with thousands of years of history and wisdom, have realised the failure of communism and are quietly burying it in a very calculated and planned manner disinvesting from the state-owned industries and businesses. That is a great lesson in realism and pragmatism.
In India, in the name of Nehruvian socialism the state entered into areas where it should not. Especially after having created a great number of engineers & managers and economists and entrepreneurs...Indian entrepreneurship was like a tiger caged. With the end to the Nehruvian permit-licence-quota socialism, Indian entrepreneurs are prowling all over the world...Private companies are showing their entrepreneurship and vision and are becoming global players...The latest and the grandest success is Laxmi Mittal's acquisition against fierce opposition of Europe's largest steel maker Arcelor...In the light of the philosophy concerning state-owned enterprises, their past and the present global scenario, I believe that disinvestment in NALCO is very well justified. In fact, the state should disinvest from all its enterprises which are in the nature of business... Dr T.H.Chowdary Director : Center for Telecom Management & Studies
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