Year on, Vigilance Bureau fails to gather Punjab Alkalies and Chemicals Limited divestment record

Tribune News Service

Jupinderjit Singh

Chandigarh, December 14

The Punjab Vigilance Bureau (VB), which has been pursuing cases of corruption in the state under the AAP government, seems toothless when it comes to investigating the multi-crore Punjab Alkalies and Chemicals Ltd (PACL) disinvestment controversy.

Sold for Rs 42 cr

• In Jan, VB began probe into ‘favour’ to individuals in disinvestment of PACL, which was sold for Rs 42 cr in 2020
• But it has been unable to get records from Industries Dept and PSIDC, besides Primo Chemicals Ltd, which bought PACL, despite 3 reminders
• VB officials say probe is in its preliminary stage and they may now write to senior authorities to procure records

Though the VB started inquiry into the scam in January, it has failed to make any headway even almost a year later. The agency has not even been able to get records of the disinvestment process, that took place in 2020, from government departments, including the Industries Department and the Punjab State Industrial Development Corporation (PSIDC), besides private company Punjab Alkalies and Primo Chemical Ltd (later Primo Chemicals Ltd), which bought the PACL. The disinvestment took place during the Congress government, when Capt Amarinder Singh was the Chief Minister. The AAP, especially its senior leader (now minister) Harjot Singh Bains, was in the Opposition at the time. It had raked up the alleged scam and vowed to expose the guilty once it formed the government. Subsequently, the Vigilance inquiry was started in January.

However, the VB officials now say the inquiry is in its preliminary stage as the government departments are not furnishing records of the case.

“We have sent three reminders to various departments and private firm, but they have not responded yet,” says an official of the agency. The VB may now write to senior authorities to procure the records.

This is quite unusual as the VB has emerged as one of the most powerful arms of the state government in its claims of tackling and exposing corruption.

Former PACL employees were the first to red-flag disinvestment scam. In a petition in the Punjab and Haryana High Court, it was alleged the government’s shareholding of 33% in the company was sold for Rs 42 crore, which was far less than the market value. It was allegedly done to “favour” some private and government individuals. The VB while seeking records of the disinvestment process had asked for details of the entire process, right from the decision to disinvest to tendering to finally how and when the payment of Rs 42 crore was made to the government.

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