This refers to the report "Finance Minister asks banks to go after willful defaulters" (February 11). It is common knowledge that the government has been milking profit-making public sector undertakings (PSUs), including public sector banks and statutory bodies, by making unreasonable demands for cash transfers and diversion of resources to less-profitable avenues. If Finance Minister P Chidambaram's expectation that "humongous" capital is required in the future comes from genuine concern for the health of PSUs, then this should be demonstrated by curbing "informal" directions to transfer surplus income and profit to the government and the declaration of dividends to meet a budgeted "quota" of receipts from government-owned organisations.
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M G Warrier Thiruvananthapuram
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number