New Delhi, May 14: Apex chambers of industry today sought to downplay the anti disinvestment stance taken by Left parties, which led to the crashing of stock markets, saying they would wait for the "official position" of the new government that will come at the Centre. "This is not the official view of the new government. Many view points are expressed... They were expressed in NDA government also...The Congress-led government is yet to be in place. Let us first wait for the allies to work out a common minimum programme," N Srinivasan, CII Director General (Designate) told news agencies.

Leaders of both CPM and CPI, emerging from an informal meeting to discuss the political situation, said the issue of disinvestment should be kept out of any common minimum programme that could be the basis for forming a secular coalition government.

"Obviously it goes without saying that policy of disinvesting PSUs should go," CPI general secretary A B Bardhan told reporters, a statement which led to stock market crash with BSE Sensex closing 329.60 points down at 5069.87.

FICCI secretary general Amit Mitra also expressed similar views and said left had disinvested loss making public sector units in West Bengal.

While admitting that CPI general secretary A B Bardhan's statement has had some psychological impact, Mitra said, "markets were over-reacting".
Srinivasan also expressed confidence that markets would bounce back next week once the new government is in place.
Mitra said that markets were over-reading into the views expressed by leaders of Left parties, and stressed that one should wait for the common minimum programme.

Bureau Report