Congress never monetized core, strategic assets: Chidambaram on NMP
What's the story
Former Union finance minister P Chidambaram on Friday slammed the Centre's National Monetisation Pipeline (NMP), saying his Congress party monetized non-core, loss-making assets when in power, in stark contrast to what the Narendra Modi-led government proposes to do. Chidambaram said, "Congress never sold off strategic assets. We always ensured that there's no monopoly in monetization as we chose assets based on criteria," he said.
Provisions
This is a day-light robbery of assets: Chidambaram
Chidambaram asked the government if provisions will be included in the Invitation to Bid (ITB) to ensure the monetization process doesn't create monopolies or duopolies in the sector. "What provisions will be included to prevent monopolies emerging in ports, airports, telecom, and power sectors," he asked. "What the Modi government plans are a day-light robbery of assets which took years to build," he said.
Demand
Centre should reveal current revenue of such assets: Chidambaram
Issuing a list of 20 questions to the Modi government, Chidambaram demanded that the Centre reveal the current revenue from the assets it plans to sell. "Konkan Railway and Delhi Mumbai freight corridor will also be sold," he said, adding the announcement was made without discussions and consultations and to avoid parliamentary debate.
Objectives
He also asked the objectives of NMP
Chidambaram asked the government to reveal the value of assets that will come back to the government after a period. What are the objectives of the National Monetisation Pipeline? Is the sole objective raising revenue over a four-year period, he asked. "What will be the interest of the party in maintaining the assets if it is not the owner," he asked.
Other details
People should raise their voice: Chidambaram
Chidambaram said, "In listing the assets to be monetized, the government has acknowledged the work done in the last 70 years. A big lie has been exposed by its own list." He said people should raise their voices against the danger of selling assets. Asked if Congress plans to challenge the government legally, he said so far only a policy announcement has been made.