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Raison d'être for continuance of the Public Sector
Written By murali772 - 24 April, 2010
Bangalore Media Reports Economy socialism Others privatisation governance nepotism
Is this why they won’t disinvest Air India, kept afloat at massive expense to the taxpayer? In a violation of DGCA rules, an AI aircraft was pulled out of a scheduled flight from Delhi to Coimbatore in order to ferry IPL players, apparently at the behest of aviation minister Praful Patel’s daughter Poorna. It appears the public sector airline fulfils the private and nepotistic purposes of public servants.
For the full report in the TOI, click here.
Isn't this also why the government persists with BMTC/ KSRTC (check this), BESCOM, etc, so that they can further the interests of the Poorna Patels of this world? - all in the name of Socialism; the tax payer be damned.
Muralidhar Rao
COMMENTS
murali772 - 5 March, 2013 - 11:36
He alleged that the factory’s land has been sold to 53 individuals so far.
“According to the information obtained by the association through RTI, the land has been sold at Rs 200-400 per square feet while the market price was Rs 2,000 per square feet between 2004 and 2006. It’s rate stands at Rs 4,000-5,000 now,” he charged.
The former employees of the factory also pointed out that HMT’s internal inquiry had found former Chairmen Ramanujam and Zahid had misappropriated funds to the tune of `550 core through the land sale. They demanded that they should be brought before law immediately.
For the full report in the New Indian Express, click here.
HMT, ITI, AIR-INDIA, etc are very much serving the only purpose they exist for today - lining the pockets of neta's and their cronies.
murali772 - 4 October, 2013 - 13:23
According to them, 15,000 party workers have appealed to the KPCC to consider their names for appointment to various boards and corporations. There are about 70 boards and corporations, and another over 2,500 directors’ posts that could be filled with party workers or legislators.
For the full text of the report in the New Indian Express, click here.
Need anybody say more?
Who will want to touch it now, even with a bargepole?
murali772 - 6 October, 2013 - 10:51
Privatization of Air India could be considered if there is political consensus, aviation minister Ajit Singh said on Saturday. He indicated that it may not be possible for any government to keep funding AI beyond the existing Rs 30,000 crore package spread over nine years.
- - - - Asked will AI get an investor when Kingfisher with a much smaller debt and losses (compared to AI) has not been able to get one so far, Kaul (chief of CAPA - Centre for Asia Pacific Aviation) said the two airlines are very different.
"Kingfisher has been grounded for over a year now. AI is fully operational and has the single-largest market share in international traffic apart from close to 20% share in domestic air travel. AI has huge infrastructure, fleet of 115 planes, pilots and other technical staff. If the government supports a private player, AI can surely get suitors even now," Kaul said.
To read the full text of the report (which is well worth the effort) in the ToI, click here.
Perhaps too late now - the liabilities are far too high, and rapidly mounting. The only way out appears to be to shut down the operations right away, cut the losses by auctioning all the assets, and write off the balance.
The moral of the story is for the government to get out of all services and manufacturings, and stick to its job of governance.
Same story was heard few years back on the Airports Privitizatio
Sanjeev - 6 October, 2013 - 19:28
Look at BIAL story :
What way BIAL is efficient in economical operation. Remove life line of Rs 350 Crore interest free loan to BAIL, 25 Years no Airport operating with 150 Kms of radius including HAL Airport, 4000 acers at no cost. Look at how BIAL could not firm up on real estate business during last 7 years and still does not know when it will firm up.
So increase the UDF is the solution and no questions asked on how badly BIAL had shown the increase in the Airport Construction cost as RIL did int their Godhavari Basin KG6.
Who is paying for the inefficieny of Airport Operation of BIAL. Why BIAL failed to collect dues of 40 Crore from Kingfisher Airlines, 375 Crore liability to be paid for the Airport Hotel case to L&T / EIH. 40 Crore for faulty road laying inside BIAL premises. No Questions should be asked to BIAL on the failure to exploit the real estate business of 4000 Acers even after 7 years of land possission.
Finally BIAL submits in writting that they are not experienced in Airport operations, so they r very much uncertain in generating enough income ????
murali772 - 27 December, 2011 - 13:16
Air India is in abysmal financial health, needing constant bailouts with taxpayer's money. Yet it is owed some Rs 480 crores by MPs, most of them from the UPA! Why doesn't our honest Prime Minister compel them to pay it, upon penalty of removal from the Party, instead of making the taxpayer pay? This is the reason why the Government cannot think of privatising the airline - its minister's would lose the advantage of its 'fly now, pay later (or don't pay)' scheme. In order to quash protest from its management, the CEO of the airline is offered the bait of lifelong free air travel for self and family!"
The above are the excerpts from a mail sent on a y-group. Though the source was not identified, I am certain the statements can't be disputed.
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