Sunday, January 22 2006 13:40 Hrs (IST) - World Time -

Hyderabad: Seeking to placate Left parties on the key issue of disinvestment of PSUs, the Congress today (Jan 22,2006) advocated 'selective and case-by-case approach' while pledging its commitment to speed up reforms in other sectors like telecom, automobiles and airlines.

On Foreign Direct Investments (FDIs), another area of concern for Left allies, the party sought transparent norms aimed at encouraging investment flow into new projects instead of mere acquisitions.

A draft resolution on economic affairs, presented before the 82nd Plenary, spoke of party's commitment to carry forward reforms with a pragmatic approach and a mix of public intervention and private enterprise to make India an economic superpower in the next decade.

"We need a radical break with the past. Even in areas where things are moving like telecom, automobiles, airlines and information technology - the pace needs to be quickened," the resolution said.

Appreciating the United Progressive Alliance (UPA) Government for reversing the policy of 'indiscriminate and non-transparent' privatization of the public sector pursued by the previous National Democratic Alliance (NDA) regime, the Congress called for strengthening Navaratna companies to make them globally competitive.

"The party reiterated the position that under no circumstances the Navaratna companies should be privatised.

"The other cases (of disinvestment) should be undertaken selectively and on a case-by-case basis to raise resources for the National Investment Fund set up by the Government to augment resources for social sector programmes," the resolution said.