This refers to the reports "Rail PPP projects move at a snail pace" and "PSBs could lose some good talent to new banks" (July 19). The Railways has a resource crunch to put through 350 projects at an astronomical outlay of Rs 2 lakh crore, public sector banks are not "akshya patras" and face a shortage of senior level managers with project and risk appraisal expertise. These problems are likely to worsen as the latter report says poaching from the private banks will emerge soon. Besides, there is a shortage of capable and big Indian private sector companies with the ability to complete big infra projects on time and within the approved cost estimates. There is, therefore, a need for financial prudence and judicious prioritisation of the projects. Railway station modernisation is a euphemism for the sale of surplus railway land. Unless properly planned and executed, this will result in station lobbies cluttered with showrooms and shops, leaving little space for the passengers. Our experience with public-private partnership (PPP) is dismal. With increasing problems in the railways and banking system and inadequacies noticed in private sector infra builders, we shall be facing greater financial stress on the economy. Therefore, there is a need of financial prudence of the highest order and careful prioritisation and pruning of infra projects.
S Subramanyan Navi Mumbai
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