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Saturday, Jul 17, 2004

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Left parties to oppose proposals on insurance sector

By Our Special Correspondent

The CPI(M) Polit Bureau member, Sitaram Yechury, addressing a press conference in Kolkata on Friday. — Photo: Sushanta Patronobish

KOLKATA, JULY 16. The Congress-led United Progressive Alliance (UPA) Government hoped to carry forward its plans for opening up the insurance sector further to foreign investors with support from the BJP which the Congress had earlier supported in identical situations in Parliament, said the CPI(M) Polit Bureau member, Sitaram Yechury, here today.

``When the NDA was in office it had survived several of its initiatives on expanding the limit on foreign direct investment in critical sectors, thanks to the support from Congress,'' Mr. Yechury said.

Mr. Yechury said that the Left parties would oppose the current proposals regarding expanded foreign investment in insurance sector, divestment of five per cent stake in the State-owned power giant, NTPC and the like.

``When the time comes, we will vote against those bills,'' Mr. Yechury said. ``But we hope the Congress realises the impact of such moves,'' he added.

To a question whether the Left parties would succeed in pressuring the Congress to re-consider the proposed measures on insurance and so on, the CPI(M) leader said: ``Wait and see.''

He, however, mentioned that the question of withdrawing support from the UPA Government did not arise as the Left parties were not known for being instrumental to the fall of any government.

``We did not pull down any government, be it Morarji Desai's or I.K.Gujral's. We supported this government mainly because we wanted to keep the BJP out of office. The same situation still persists. So, pulling the UPA down is not our priority.''

Mr. Yechury said that contrary to popular perception the Communists did know how to ``bite.'' ``We are playing the role of a watchdog, not a lapdog.''

He said that the CPI(M) had reservation over participating in the UPA Government because of the differences in perception about certain crucial economic issues.

``We have always been consistent in opposing certain policies. We did so earlier, we will continue to do so even today.''

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