Disinvestment Department is never idle. The Cabinet Committee on Economic Affairs has approved the follow on Public Offer (FPO) of PFC (Power Finance Corporation. The issue will raise 15% fresh equity as also 5 % disinvestment. The PSU at present have 78% equity at present and will have 85% after disinvestment. The PSU hopes to get Rs. 5372 crore through the present exercise. Employees will be offered share on 5% discount.

HAL (Hindustan Aeronautics Limited (HAL), the defence PSU also is looking for disinvestment. At present 100% shares are held by the government.

It is certain that the workers in these PSUs will oppose these disinvestments.

Mobile phones in India is increasing about more than one crore every month. In December 2010 it has reached to 75.2 crore. But the interesting fact is that only 70.3% of these phones are active.  One of the reason may be that the same person is having more than one mobile.

The Disinvestment Department is not idle. The Cabinet Committee on Economic Affairs has approved the follow on public offer (FPO) of Power Finance Corporation (PFC). The issue will raise 15% fresh equity besides five per cent disinvestment of government holding in the company.

The government currently holds 89.78 stake in the PSU. After the follow on issue, the Government will have only 85%. On the current valuation the issue will raise Rs.5,372 crore. Certain % of shares are reserved for the employees.

HAL (Hindustan Aeronautics Limited ) is also thinking of for IPO (Initial Public Offer ) subject to the approval of the Government. At present HAL is a completely government owned defence PSU.

As per reports in Times of India based on the CBI and Enforcement Directorate investigations, A.Raja, former Communications Minister could have got bribes to the tune of Rs. 3,000 crore and have put the los to the exchequer due to selling of spectrum at undervalued rates at Rs. 40,000 to 50,000 crore.

CBI will charge sheet  Minister A.Raja, his Private Secretary, R.K.Chandolia, former DOT Secretary Sidharth Behuria and businessman Shahid Balwa by March 31st as stated in the Supreme Court.

Guilty should be punished for their crimes.

Nepal is having a new Prime Minister, Jhalanath Khanal, the leader of the Communist Party of Nepal (UML). After an understanding between the Maoists – Left Alliance, Khanal has been elected to the top post.  But it seems that every thing is not OK. It is a churning that is taking place. It is hoped by all progressive sections that the democratic forces in Nepal should be able to join together for the progress of the nation.

Dr. Jayati Ghosh, noted economist and Professor, Jawaharlal Nehru University has been awarded the International Labour Organisation’s Decent Work Reasearch Prize along with Professor Eve Landau. She has been conferred  the honour for her major contributions to the analysis of socio-economic relationships and policy instruments for the advancement of decent work.  Dr. Ghosh is a regular writer in Peoples Democracy and other progressive journals. 

My hearty Congratulations and Best Wishes to Dr. Jayati Ghosh!

It is a story from success to success. The story of Shahid Usman Balwa, the billionaire who has now been arrested by the CBI in the 2G scam will be one connected with politicians, big business, corruption, bribes and what not? But neither the government nor those other powerful people would  like those stories to come out.

All those who were near and dear to Balwa will now try to distance themselves to avoid exposure. But truth will certainly come out, if not today, by tomorrow.

The land of the pyramids is happy that the autocratic rule of Hosni Mubarak is over. The people all over Egypt are celebrating the pro-democracy victory for which they have been fighting peacefully for the last few weeks.

President Hosni Mubarak after 30 years of autocratic rule supported by the US imperialism has vacated his seat and vanished from Cairo. The Military has declared that the demands of the people will be agreed. The victory in Egypt is a message to all the West Asian Countries, who are under the spell of US domination. This is the time to make a change, that is the message of Egypt.

I congratulate those pro-democracy protesters and supporters who have won the battle and created a new path for the people of Egypt.

Despite the denial by the Government that the ISRO Antrix Corporation agreement with private  company Devas Multimedia was not known to the Government, the latter issued a statement today that the agreement has been signed with the approval from the highest levels of government including from the Union Cabinet. It means the Prime Minister is also aware of the same. Devas also stated that they are not aware of any move to cancel the agreement till a week back,

There are a lot of questions to be answered by the Government. There seems to be a lot of skeletons in the cupboard. New exposures are coming every day. The UPA government is in real trouble.

Today I met Shri S.C.Misra, Member (Services ), Telecom Commission and discussed about issue of orders on Pension Revision of pre-2007 BSNL retirees. He stated that the case is being vetted by the Finance and most probably, the order may be issued by next week.

More than 60,000 BSNL retirees are eagarly waiting for the orders. Don’t disappoint them by delaying orders.