Shelve strategy to offer PSUs in State: KTR to Centre

Hyderabad: Industries as well as IT Minister KT Rama Rao has actually required the Union government to withdraw its strategies to offer properties, consisting of land set aside to various public industry tasks (PSUs) inTelangana Instead, he recommended the Centre discover opportunities of restoring as well as reinforcing the PSUs.

“If it is not feasible then the State government should be given an opportunity to set up new industrial units in such lands,” KTR stated. He discharged a letter to Union Finance Minister Nirmala Sitharaman mentioning that the Centre’s strategy to offer PSUs was just travestying the State government’s civil liberties.

KTR explained that lots of States, consisting of Tamil Nadu, were highly opposing the Centre’s transfer to offer PSUs established in their corresponding areas. He appealed the government to reassess such strategies, stopping working which the Telangana government will highly block the actions.

He blasted the Centre for its efforts to offer PSUs in the semblance of disinvestment. He looked for to recognize under what stipulations or civil liberties, the Centre was intending the sale of PSUs established in variousStates “It is unfortunate that the Modi government did not provide job opportunities to unemployed youth. If PSUs are reopened, they will provide direct employment to thousands and indirectly millions will be benefited, KTR suggested.

He said the government was selling Hindustan Cables Ltd, Hindustan Florocarbons Ltd, Indian Drugs and Pharmaceuticals Ltd, HMT, Cement Corporation of India Ltd (CCI) and Ordinance factories in Telangana as part of its disinvestment plans. In the past, the State governments had allotted about 7,200 acres to these six companies.

According to the government estimates, the value of these lands would be nearly Rs 5,000 crore. As per open market prices, the value could be over Rs.40,000 crore.

He said the State government had allotted lands to these companies at marginal prices and in a few cases, they were offered free, since setting up of the units would generate employment to local people, besides facilitating industrial development.

KTR said the State government was recognising physical assets of PSUs, which the Centre wanted to sell, as people’s right. In the guise of disinvestment, the Centre’s move to sell the assets would tantamount to selling Telangana assets, he pointed out.

When the Telangana government urged allotment lands for construction of Skyways to improve transportation in Hyderabad, he said, the Centre demanded compensation as per market price. “In this context, just how can the Central government offer lands that were set aside by State for establishing PSUs,” KTR examined.

The Centre additionally sidelined the application of guarantees made to Telangana according to the Andhra Pradesh Reorganisation Act, the minister specified.