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Opponents of Balco sell-off will pay heavy price: Shourie

The opponents of Balco divestment who were 'resorting to strong-arm tactics' would have to pay a heavy political price in future, Union Divestment Minister Arun Shourie warned on Monday.

"The people will be able to see through the designs of political parties who claim to be pioneers of reforms but are stalling the divestment process for political reasons," Shourie said delivering the key note address at a conference on 'Global experiences in privatisation' in Hyderabad.

Referring to Chhattisgarh Chief Minister Ajit Jogi's charges of kickbacks in the deal, he said: "I had asked him to name the recipients. The CVC had also asked him to provide the information. But there has been no response from him."

The minister also pointed out that despite a categorical assurance that there would be no retrenchments, the state government had instigated the workers to go on strike and stop production at the Balco plant.

"The hypocrisy and contradictory stands of political parties and this disease of hurling allegations are creating problems," Shourie said.

Exuding confidence that the entire divestment process would get the 'seal of approval' from supreme court, where the matter is pending, he said: "We should, in the meantime, need to concentrate on privatisation of other units."

The prolonged debate over Balco would, in fact, help accelerate the divestment process in the country, Shourie said.

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