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Pawar asks Pranab to reign in his officials

Food and Consumer Affairs Minister Sharad Pawar has asked Finance Minister Pranab Mukherjee to restrain his officials from working beyond their jurisdiction and interfering in other ministries` work.



New Delhi: Food and Consumer Affairs
Minister Sharad Pawar has asked Finance Minister Pranab
Mukherjee to restrain his officials from working beyond their
jurisdiction and interfering in other ministries` work.

Taking exception to the noting made by Finance Ministry
officials in matters relating to commodity exchanges, Pawar
told PTI: "I wrote to FM sometime back pointing out how their
bureaucrats are functioning. I have given some example also."
He was responding to queries on a letter he had recently
sent to Mukherjee objecting to Finance Ministry officials
giving directions that the National Stock Exchange (NSE)
should buy commodity exchange NCDEX`s stake from institutions
like LIC and Nabard.

Pawar`s objection was that Finance Ministry had no role
in deciding the stake holding in a commodity exchange and ask
its own institutions to sell these to a private entity.

A NSE spokesperson declined to comment on the issue. The
matter of hiking stake holding became redundant after the
government issued guidelines on July 9 limiting stock exchange
shareholding in a commodity exchange to 5 per cent.

The Forward Market Commission, meanwhile, said that there
were reports of NSE wanting to up its stake in NCDEX from 15
per cent to 25 per cent by buying five per cent each from LIC
and Nabard. "However, they had not approached us for
permission," FMC Chairman B C Khatua told PTI.

According to reliable sources, some senior officials in
the Finance ministry had made certain suggestions regarding
institutional shareholdings in NCDEX, which comes under the
purview of FMC and Consumer Affairs Ministry, sources said.

Through the letter, Pawar made it clear that the finance
ministry officials should limit their advise to matters
related to their jurisdiction, sources added.

-PTI

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