Mixing Political Interests with National Interests – The big PSU Scam !

Samuel Johnson made this famous pronouncement that patriotism is the last refuge of a scoundrel on the evening of April 7, 1775

The favourite hobby of UPA politicians is to justify decisions made for their narrow Political Interests as National Interests, and benefit handsomely from this.

Take the 3G scam… Can anyone believe that only Mr. Raja benefited from it?

Every Indian knows that politicians take cuts … what they detest is the fact that even after taking cuts these politicians cant get the work done, so much so that they are ready to forgive if they see tangible on ground benefits . Take the case of the Late Pramod Mahajan, a witty minister with dealings with Reliance Tele, who ushered in the telecom revolution, which cut per call rate from Rs 20 /Rs 16 to Rs 1.

Currently the Congress UPA is playing the National Interests card to rob the taxpayer, the average citizen and moreso the small shareholders of multiple navratna PSUs and  the policyholders of multiple psus like the Life Insurance Corp of India, which has now become the unofficial bailout mechanism for the disinvestment ministry.

Thankfully activist foreign funds that have invested in such firms, who have nothing to loose, are taking on such company managements and the government, a luxury most Indians cannot afford as they fear the draconian enforcement establishment and harassment mechanism the govt operates.

The Children’s Investment Fund (TCI)  will file a legal suit against Coal India’s board in the next two weeks in additional to the law suit against the government of India under the UK-Indian bilateral treaty.

The nononsense CIO of TCF Chris Hohn added:

The only relevant thing will be the public interest. There is a concept of the rule of law, which is that nobody, including the government, is above the law.
So, if the government advertised that they wanted to give away 2G licences to telecoms for free, that’s not legal. Even if they put it in the prospectus, even if they tell everybody, it’s not legal. Our legal case will revolve around public interest.

Sooner or later the people of India will realise that the system is ripping them off and benefiting only a handful of wealthy industrialists. We think that FSA coal pricing system is encouraging massive corruption within India.

This video is worth watching…

http://www.moneycontrol.com/video/business/will-file-suit-despite-cil-board-decisionfsa_693207.html

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