The Prime Minister’s Office last month called the top officers of Indian Oil Corporation, Hindustan Petroleum, Bharat Petroleum, State Bank of India and IDBI to consider infusing Rs.5404 crore as equity for setting up a six million tonner refinery in Cuddalore in Tamil Nadu by Nagarjuna Oil Corporation Ltd. The project was stalled since January, 2012 for want of funds.
Even after the three refineries IOC, BPCL and HPCL said they could not pick up the NOCL tab, they were told to revisit their decision taking into consideration that NOCL held nearly 2,300 acres of land with necessary environment clearances.
(source;The Indian Express)
This is nothing new and more or less the same approach adopted in bailing out Vijay Mallya’s King Fisher Airlines by the UPA II government. And we have seen now Vijay Mallya has cheated the banks and fled the country.
Further why no such interest in bailing out PSUs like BSNL despite the promise at the time of BSNL’s formation.? On the contrary even what ever is due to BSNL towards USO Fund, refund of BWA Spectrum and excess income tax levied are not being paid when BSNL is badly in need of money for procuring equipments etc.
So the pro private and pro corporate policy of the BJP government is once again thoroughly exposed.
