09-16-2005, 06:37 PM
Financial Express Editoral: Stop this now!
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>As the recent attempt by petroleum minister, Mani Shankar Aiyar, (The Indian Express, September 15) has shown, appointments to PSU boards have nothing to do with merit. Instead, they have everything to do with a spoilsâ system, with pork-barrel politics, where the effort is not to ensure best management practices, but to distribute favours. Never mind what happens to the PSU or to taxpayer money in the process. </b>
Where is the justification for appointing 20 Congress leaders to the boards of oil PSUs? If, as the minister proudly claims, these are ânavaratnas,â then this is the last thing he should be doing. <b>Unfortunately, he is not the only one guilty of such blatant misuse of his position. It is a common practice to hold out appointments to the boards of PSUs as a reward for favours rendered.</b> Another reason for quickly privatising these before they are run to the ground.
<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>As the recent attempt by petroleum minister, Mani Shankar Aiyar, (The Indian Express, September 15) has shown, appointments to PSU boards have nothing to do with merit. Instead, they have everything to do with a spoilsâ system, with pork-barrel politics, where the effort is not to ensure best management practices, but to distribute favours. Never mind what happens to the PSU or to taxpayer money in the process. </b>
Where is the justification for appointing 20 Congress leaders to the boards of oil PSUs? If, as the minister proudly claims, these are ânavaratnas,â then this is the last thing he should be doing. <b>Unfortunately, he is not the only one guilty of such blatant misuse of his position. It is a common practice to hold out appointments to the boards of PSUs as a reward for favours rendered.</b> Another reason for quickly privatising these before they are run to the ground.
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