We must move faster to attract FDI

THIS has reference to the editorial “Rebuilding assets: A belated positive decision on FDI” (Nov 22). Asset reconstruction companies can have a 49 per cent ceiling on foreign direct investment (FDI) as suggested by the RBI instead of 74 per cent as suggested by the Finance Ministry. Foreign Institutional Investors (FIIs) have been barred from equity participation in companies buying non-performing assets, though their entry would have broadened the bond market.

The latest decision suggests that the reforms are back on the track. The US and the UK companies are interested in real estate, banks, credit market and financial services, including the asset reconstruction section.

India has to move faster to attract FDI, which is at present 10 per cent of that attracted by China. At least for sectors where the Left Front’s opposition is vehement, the Centre will have to more aggressively open up sectors to FDI.

VINOD CHOWDHURY, St. Stephen’s College, Delhi

Dear readers

Letters to the Editor, neatly hand-written or typed, upto 150 words, should be sent to the Letters Editor, The Tribune, Sector 29 C, Chandigarh. Letters can also be emailed at the following address: letters@tribunemail.com

— Editor-in-Chief


Systemic ills

This has reference to the news-item on the Punjab Public Service Commission and the Punjab Subordinate Services Selection Board (Nov 16 and 18). The PPSC and the PSSSB were constituted to recruit people in tune with perspective planning, but the latter remains on paper. Appointments made by ad hoc committees have often been challenged in the courts on grounds of impropriety and scrapped subsequently.

Similarly, postings and promotions of officials in every department including the police have been politicised. Macro and micro level administration is, obviously, in conflict. The government continues to be indecisive on whether recruitment should be made on regular or contract basis. It is also apprehensive on the methodology for impending recruitment for fear of malpractices during the selection process.

Lt-Col BACHITTAR SINGH (retd), Mohali

Have a heart for the disabled

December 3 is observed as International Day of the Disabled Persons every year. However, observance of the day should not merely be a ritualistic exercise. The disabled persons are yet to receive due attention and care by the government and society.

I appeal to the Centre and the states to observe this day by organising seminars on the problems and welfare of the disabled persons. Their suggestions should receive prompt attention. NGOs too should be involved in the exercise.

MANJIT SINGH, Chandigarh


Uma’s arrogance

Uma Bharati’s claim “I am the real BJP” (Nov 30) reminds us of the assertion made, years ago, equating Indira (Gandhi) with India. Our celebrated leaders must realise that however great or powerful they may be, the country, its people and institutions take precedence and reign supreme.

A part cannot equate itself with the whole. To take a different stance would be the height of one’s arrogance and folly ill-suiting public figures.

Wg-Cmdr S.C. KAPOOR (retd), Noida

EC is the winner

Though Mr Nitish Kumar has won the elections in Bihar, the Election Commission is the real winner for having conducted free and fair elections under tough conditions. This will enhance the right-thinking people’s faith in its working under similar conditions in the days to come.

In the past, some people had almost lost faith in the system because of several functional drawbacks. I congratulate the Election Commission for upholding the true democratic traditions as incorporated in the Constitution.

M.P.S. RANDHAWA, Dhapai (Kapurthala)

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