The Finance Minister Arun Jaitley’s statement that Air India may be put up for strategic sale has shocked the nation. Air India and Indian Air Lines were both profitable, but after compulsory merger by the government, the merged Air India became loss making. The unnecessary purchase of planes, almost three times its requirement, at the behest of the then Minister Praful Patel and wrong policy decisions are the main reasons. For the last three years, Air India has reduced its losses and has posted operational profit. The deficit is mainly due to the depreciation for the assets like planes etc.
Probably the government may have a feeling that once Air India becomes profitable, it will be difficult to privatise it. Hence the urgency to implement strategic sale of this great PSU.
It is no different with BSNL. Once it is posting operational profit, NITI Ayog has recommended its closure or privatisation.
The Modi government in its privatisation madness, is going to destroy all the Public Sector Units one after another. This madness has to be cured by the sustained struggle of the workers with the full support of the people, who are the real sufferers.