Saturday, July 2 2005 19:36 Hrs (IST) - World Time -

Kolkata: Dismissing any scope of bargaining on the BHEL disinvestment issue, the CPM (Communist Party of India-Marxist) today (July 2, 2005) said it hoped that the UPA (United Progressive Alliance) Government's response to the demand for withdrawal of the disinvestment move would come before Prime Minister Manmohan Singh left for the G-8 summit.

''There is no question of bargaining. In principle, we are opposed to it. We are awaiting the Government's response. The Prime Minister will be going to attend the G-8 summit. We are expecting something to emerge from the Government before that,'' the CPM politburo member, Sitaram Yechury, told reporters in Kolkata.

Asked if it would agree to any proposal of the Government to lower the stake dilution from 10 to five per cent, he said that the Left's position was clear. There was no question of bargaining.

''We have defended our position with regard to disinvestment in public sector units, especially the Navaratna companies.

''We are opposed to erosion of equity in the central Navaratna PSUs, which is not in the interest of the country,'' Yechury said defending the Left parties' decision to stay away from the UPA-Left coordination committee meeting.

BHEL disinvestment was a clear violation of CMP and ''our Opposition was made known on June 26''.

The Left parties' next reaction, he said, would be determined after the Government's response on the issue.