Review privatisation move: All India Bank Officers' Confederation to Centre

GUWAHATI: AIBOC (All India Bank Officers' Confederation) — the apex organisation of supervisory officers in the banking industry has strongly denounced the 'Asset Monetisation' programme launched by the Union Finance Minister on August 23, 2021.

The AIBOC in a press release signed by the organisation's general secretary, Soumya Datta added, "The AIBOC is of the considered view that this scheme is nothing but a move to initiate wholesale privatisation of public-sector assets across all the crucial infrastructure sectors.

"The 'National Monetisation Pipeline' developed by the NITI Aayog intends to sell off/lease public sector assets worth Rs 6 lakh crore to private corporates in the next four financial years, from 2021-22 to 2024-25. Assets worth Rs 88 thousand crore have been targeted for such monetisation; or privatisation in the current financial year. The shortlisted assets include National Highways, Trains, Railway Stations, Power Generation and Transmission, Oil & Gas pipelines, Telecom ifrastructure, Mines and Minerals among many other items.

"This wholesale privatisation of infrastructure assets under the garb of asset monetisation is accompanying the disinvestment and strategic sale of entire PSUs across several sectors, including the general insurance companies and banks in the public sector, initiated through the Union Budget 2021. Such privatisation will only benefit a handful of large corporates while destroying the foundations of our national economy," stated the national-level organisation of bank officials, stated the press release.

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