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Madam, I can give you an example as to how the evaluation is done. Take the case of Modern Food. It was sold for Rs. 105 crore. Was proper evaluation done? What was the procedure? The net fixed assets of the Central PSUs at the end of 1998-99 stood at Rs. 2,24,173 crore. Fixed assets are valued at the historical cost minus depreciation. Does this figure reflect the real value of the assets at today’s market price? What was the price of land when the industry was set up forty years ago? What is the price of land today? In the Ministry of Textiles there was a proposal. Shri Kashiram Rana knows that. In 1995 a package was approved. According to that package, by selling the surplus land of the NTC mills of Maharashtra only, all the 119 mills could be revived. At that time, Shri Manohar Joshi was the Chief Minister. We went there and met him along with the then Minister of Textiles. He did not agree to that. A survey was taken for 119 Central PSUs out of the 234 units on the basis of the fiscal efficiency parameters. Only 69 of them fell below fifty per cent utilisation mark.

SHRI ARUN SHOURIE: Just one small point. Representatives of every single component of the staff of Scooters India, Lucknow have met me twice and urged that this disinvestment should proceed very swiftly. They represent workers and management of all types. So, I just want to report that fact to you.

SHRI MANI SHANKAR AIYAR (MAYILADUTURAI): Has it been converted from a loss-making unit to a profit-making unit? Please confirm the point he has made.

SHRI ARUN SHOURIE: I will come to that.

SHRI BASU DEB ACHARIA: I know, I was in the House in 1985 also when this issue was raised on the floor of the House and the Government at that time reversed that policy, and they decided to revive that unit. If the Government has the intention to revive any unit, it can revive that unit. Shri Kashiram Rana has very clearly stated on the floor of the House that he did not want to close down many of the mills. He has proposed to undertake a unit-wise study. He has also informed the BIFR. Is it true, Shri Rana? … (Interruptions)

THE MINISTER OF TEXTILES (SHRI KASHIRAM RANA): Yes. You carry on.

SHRI BASU DEB ACHARIA : He has a very positive attitude. Whenever I met him, he assured me that he does not want to close down any of the mills … (Interruptions)

MR. CHAIRMAN : Please address the Chair.

SHRI BASU DEB ACHARIA : Many of our public sector undertakings are more efficient than private sector undertakings. In 1997, the Government had identified 11 PSUs as Navratnas. Why did the Government identified them as Navratnas? They identified them on the grounds that these have comparative advantages and potential to become giant players based on their size of performance, nature of activities and future prospects. These 11 PSUs are Bharat Heavy Electricals Limited, Bharat Petroleum Corporation Limited, Gas Authority of India, Hindustan Petroleum, Indian Oil Company, IPCL – I will come to this later, - MTNL, NTPC, ONGC and Steel Authority of India which have become sick during their regime. Shri Tripathy is here. In the last two years this giant undertaking has started incurring losses. Why is it so? Steel Authority of India has started incurring losses after pumping thousands of crores of rupees. Why have you opened the doors for the last two years?

There are two types of public sector undertakings and Shri Kashiram Rana knows about it. All the public sector undertakings were not under the public sector since inception. There are a number of units which were previously under private management. They have closed down and in order to save the workers and the industry, the Government of India came forward and took over them. The Government had nationalised them subsequently. But after the nationalisation, modernisation was to be undertaken in the National Textiles Corporation, but it was not done. So, almost all the mills under N.T.C. have become sick now. I would like to know whether the workers are responsible for it or the management of the concerned mill is responsible for it.