Protect small investors: Sonia

By Javed M. Ansari

NEW DELHI, JULY 7. The Congress president, Ms. Sonia Gandhi, has written to the Prime Minister, Mr. A.B. Vajpayee, urging the Government to ensure that the interests of small investors of UTI are fully protected. She has also called on the Government to carry out a thorough investigation into the management of both UTI and US-64.

Expressing her deep concern over the issue, Ms. Gandhi said the matter was a national issue and ``I would strongly urge the Government to carry out a thorough investigation into the management of both the US-64 and the UTI''. She also pointed out that what was deeply disturbing was the fact that for the second time in three years the US-64 has created ``crisis of confidence and betrayed the trust of ordinary investors''.

Ms. Gandhi has also criticised the Government's handling of the crisis, which according to her did not inspire confidence. The entire episode, she said, was a damaging indictment of the Government's management of the economy. ``It strains credulity that the Government was not in the know about what was happening.'' Pointing out that millions of senior citizens, pensioners, ex-servicemen, and salaried professionals had invested their hard-earned savings into the scheme, Ms. Gandhi expressed that ``the investors will now see credible and affective action to restore their trust''.

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Section  : National
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