Friday, May 26 2006 16:58 Hrs (IST) - World Time -

New Delhi: The Communist Party of India today (May 26, 2006) opposed the Centre's plan to offload government stake in Nalco and Neyveli Lignite Corporation, saying such a move will violate the Common Minimum Programme.

The Government proposes to divest five per cent stake in NALCO and 10 per cent in NLC.

"The UPA Government should realise that PSUs, Public Sector Banking Industry and Insurance Industry are the strength of our economy. Making them weak and vulnerable is not in the interest of the country and its economy," the party said in a statement here.

The UPA Government should look at raising resources through ways other than disinvestment and the Left had given various suggestions in the past, the CPI said.