Reconsider NMP scheme, Stalin writes to Modi

Chief Minister M.K. Stalin wrote to Prime Minister Narendra Modi on Friday, urging him to reconsider the National Monetisation Pipeline (NMP) scheme and take the views of public sector undertakings th

Chief Minister M.K. Stalin wrote to Prime Minister Narendra Modi on Friday, urging him to reconsider the National Monetisation Pipeline (NMP) scheme and take the views of public sector undertakings that will come under the plan and the State governments before taking any decision on its implementation. “Taking into account the current economic situation of the country, this sort of a massive privatisation activity, no matter what name you call it, will lead to invaluable government assets falling into the hands of a few groups and large private institutions,” he said. He said the assets of public sector undertakings were public assets. Many of these have an important role in positioning India as an industrial and self-reliant nation. To create them, land belonging to State governments and citizens too were given. “Hence, people have pride and rights over these institutions,” Mr. Stalin said in the letter. “We do not know what impact this NMP scheme will have on the Indian economy...,” he said.