News From CPI Congress

Mounting pressure on the government to act fast to control prices, the CPI(M) on Monday demanded withdrawal of a legislation which would allow FDI in the commodities market and warned that the Left would oppose the Bill if it was brought to Parliament. "The government takes some measures with the right hand and does something else with the left. If they are really interested in bringing down prices, they should first withdraw the Forward Contract Regulation Amendment Bill," CPI(M) General Secretary Prakash Karat told reporters here.

If they are really interested in bringing down prices, they should first withdraw the Forward Contract Regulation Amendment Bill

"We have already told the government that we cannot support the Bill in Parliament. We are going to oppose it if it is brought. ... The bill will not pass. The ordinance will have to lapse because we won't support FDI in the commodities market," he said. The CPI(M) had yesterday set a deadline of April 15 for the UPA Government to take urgent measures to check prices and threatened to launch a nation-wide agitation. Karat, however, said his party was in consultation with other Left parties and other parties for a joint agitational programme.

"Any party can join us, barring the NDA," he said, adding that he had spoken to TDP Chief N Chandrababu Naidu and told him that the programme would be finalised after the Party Congress. Referring to the price situation, he said two weeks before the Budget Session, government issued the Forward Contract Regulation Ordinance to allow FDI and foreign ownership in the commodities market. "When large amounts of foreign capital comes to speculate in the commodities market, it can be imagined how this will fuel prices," he said.

31.03.2008.

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