PSU stake sale retrograde step: RS member

Opposing government move to sell stakes in PSUs, a member in Rajya Sabha today said it will be a retrograde step and demanded any further disinvestment be stopped.
Raising the issue during Zero Hour, Tapan Kumar Sen (CPI-M) said PSU share sale was on as part of policy measure to contain fiscal deficit but would be detrimental for the country.
"It is like selling family silver for consumer expenditure...It is a retrograde move and any further disinvestment should be stopped immediately," he said.
Sen said all the trade unions whether right, left or centre were opposed to it and had gone on a two-day strike.

Urging the government to stop it at once, he said PSUs like ONGC, SAIL, Coal India were "crucial for country's economy" and pumped in huge funds in the economy.
He said funds to the tune of Rs 2,47,000 crore were generated by the PSUs and demanded a "stop" on disinvestment.
Sitaram Yechury (CPI-M) said even former Prime Minister Jawaharlal Nehru appreciated the public sector.