Siddaramaiah writes to Modi not to sell BEML stake

The CM Siddaramaiah has written to Prime Minister Narendra Modi not to disinvest in the Bharath Earth Movers Limited (BEML). The BEML in Bengaluru is producing and supplying war armoury and machineries for railway transport. Currently it holds a property valued at Rs 2696 crores and the machinery and other wealth. It is inappropriate to sell it to a private sector individual investor. 

The Chief Minister Siddaramaiah has written to Prime Minister Narendra Modi not to disinvest in the Bharath Earth Movers Limited (BEML) but to support to develop it, reported Kannada Prabha.

The BEML in Bengaluru is producing and supplying war armoury and machineries for railway transport. It is a major Public Sector Undertaking of the Central Government. Currently it holds a property valued at Rs 2696 crores and the machinery and other wealth. It is inappropriate to sell it to a private sector individual investor, he stated.

During NDA government at budget speeches in 1999 and 2000 it was promised to limit disinvestment in Central Government undertakings. Hence BEML must be saved to protect the property of a government undertaking and for producing war armoury.  The Chief Minister also stated that BEML cannot be sold merely for achieving the target of disinvestment.