PSUs privatisation not in national interest, says TN CM Stalin

Tamil Nadu Chief Minister M K Stalin said Privatisation of Public Sector Undertakings was not in national interest. Stalin said the Tamil Nadu government would oppose and write to the Centre demanding that the privatisation be withdrawn.

Chennai: Taking a jibe at the Centre over Privatisation of Public Sector Undertakings, Tamil Nadu Chief Minister M K Stalin said it is not in national interest. Stalin said the Tamil Nadu government would oppose and write to the Centre demanding that the privatisation be withdrawn.

Tamil Nadu Congress MLAs Selvaperunthagai, Ramachandran and Communist Party of India MLA Marimuthu on Thursday moved a resolution in the legislature calling for a halt of the sale of Public Sector Undertakings to the private sector.

Speaking on the occasion, Stalin said, "Public sector companies in the country are assets of all of us. Selling public property is not good for nation. Profit motive alone should not be the goal of the Central government. Public sector companies are the source for economic growth as well as for small and micro-scale businesses. I am going to write a letter to the Prime Minister opposing the privatisation of public properties." he said.

Union Finance Minister Nirmala Sitharaman had announced major privatisation bids in 2020-21 Budget. Two public sector banks and general insurance company were proposed to be privatised.