EuromoneyFXNews.com

EuromoneyFXNews.com

Sign up to receive free alerts from our foreign exchange news service

The truth about Asian investment banking

June 2001

Shourie lays down the law



       
Shourie: settling the intellectual arguments over
The woman wags a hectoring finger at the minister. "If a child is unwell," she says, "its mother does not give it an injection of poison." She and a group of trade union colleagues are accusing the minister of doing just that by privatizing the aluminium plant in Chattisgarh state. For 40 minutes they sit in his office and plead with Arun Shourie, minister in charge of privatization, administrative reform and a panjandrum range of critical issues concerning modernization of India's economy, to roll back the privatization of Bharat Aluminium (Balco).
Shourie refuses their entreaties and tries to reason with them. The government, he argues, has no alternative: privatization is good for the economy and good for the workers, especially since the new owners, Sterlite, run by a London-based overseas Indian, Anil Agarwal, have made promises that there will be no retrenchments or redundancies.


You must be a trialist or subscriber to view this content

Please Subscribe or take a Free Trial below.
Already a subscriber? Log in here.





Download the Free Euromoney iPad app today