CM slams Centre’s privatisation policy

The Kerala Assembly on Tuesday adopted a resolution condemning the Union government’s move to privatise Bharat Petroleum Corporation Limited (BPCL).

Chief Minister Pinarayi Vijayan pointed out that the Centre had put up the refinery in Kochi, a BPCL asset, also for disinvestment. He slammed the Bharatiya Janata Party-led Central government for pushing ahead with a policy of privatisation that allowed corporates to gobble up profit-making public sector assets. The BPCL had registered profits since its inception.

‘Security compromised’

The move would imperil the future of 30,000 employees. It would deprive households of subsidised cooking gas. The Modi government had compromised the country’s energy security by selling critical sectors to private profiteers.

The State had invested heavily in Kochi refinery. It had planned a large-scale petrochemical plant there at a cost of ₹25,000 crore. Moreover, the firm owed Kerala ₹1,500 crore in loan. The State urged the Centre to withdraw its disinvestment plan in public and national security interests.