LIC & PSUs are not the Government’s private property

THE LIC.. and some PSUs..

  1. It was established in 1956..since then till 2013 only 11.9 lakh cr was invested in PSUs.But after 2013 till this year 22.6 lakh cr is invested in PSUs.. A 72% jump..

We all know what’s the condition of those PUBLIC SECTOR UNITS.

2-In 2004 public sector investment by LIC was 3 lakh cr..Now it stands as 10.7 lakh cr.
I will b giving the performance of some big PSUs later in the post..

3-Where as in PRIVATE SECTOR the investment by LIC dipped sharply..
In 2004 it was 1.35 lah cr..Now it stands just 80k cr.

4-LIC bought IPOs of BHEL, GIC, HAL to fill up GOI’s divestment project..

5-LIC bailout policy prices 17000 cr in only 2018/19 only..

6-NHAI bond bought by LIC is of 30000cr.

7-80% of stocks in LIC PORTFOLIO slipped into red..

Few are..
Reliance Communications (down by 94%)
Reliance Naval (down 93%)
Reliance Infra(88%)
R Home Finance (86%)
I hope you won’t be surprised to see so much ANIL AMBANI stocks here

8-  LIC infused 26000 cr in IDBI bank..
In 5 years the stock is down from 100 to 27.

Let’s see some PSUs where LIC made investments..

In 5 years ONGC stock is down from 270 to 124
Coal India is down from 410 to 193
BHEL from 200 to 47

1-HAL cash reserves down 99% from 2013 to 2019..
(17000 cr to only 140 cr)

2-ONGC cash reserves down from 10000 cr to 1000 cr in 6 years..

The scary part is GOVT DIPS into small savings fund loan to PSUs jumps 500% in loss making PSUs

Its being used to BAIL OUT PSUs like AIR INDIA. .NHAI..POWER FINANCE CORPORATION..with your money?

In sep 4, 2018 ONGC union wrote a 4 page letter to PRIME MINISTER. .

HERE are some points which they wrote..

1- Acquisition of GSPC gas blocks was a huge loss

2-Buying GOI’S entire stake in HPCL at 36915 cr at a price which was 14% higher than then market value of HPCL.

3-Offering control to private players in producing fields

4-Pressurising ONGC to increase CSR funds to govt projects..

Post Author: maxyogi

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