New Delhi: Opposition in the Lok Sabha on May 8 took the government to task for its moves to divest its stake in oil majors Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) and asked it to clarify why other public sector firms were not being allowed to participate in their strategic sale and which foreign players were showing interest.

Initiating a special discussion on the issue, Communist Party of India – Marxist (CPM) leader Somnath Chatterjee also sought government's explanation as to how the Executive powers were being used to divest these profit-making public sector undertakings (PSUs) which came into being through Acts of Parliament.

"Parliament, which once created these firms, is not being taken into confidence and is being shabbily treated. Probably, the government fears it would lose the vote," he said and asked, "Which are the foreign companies showing interest (in privatisation of the two PSUs)?"

Stating that the two companies were nationalised by Parliament in 1974 after the then government which had experienced a war in 1971 felt oil companies should not be owned by foreign firms, Chatterjee said, "I charge you that by privatising, you will create private monopolies and these firms will go to foreigners."

"We have just seen how a country loses its independence as another country think it has the sole powers to ensure Democracy and freedom," he said hinting at the US-led war against Iraq.

PTI