Such is the resentment created by the Centre’s move that the CPI(M), CPI and the opposition Congress have joined hands to oppose the Modi Government’s plan. A Save SBT Forum has been created at a conference attended by CPI(M) state secretary Kodiyeri Balakrishnan, CPI leader Pannian Ravindran and Kerala Pradesh Congress Committee (KPCC) president V M Sudheeran.

The move is aimed at diluting government stake in the SBT and allow private participation. It may be mentioned that the Assembly had passed a unanimous resolution, during the tenure of the erstwhile UDF Government opposing the move. Kodiyeri said the LDF Government would strongly oppose the move which will deprive the State of the only bank headquartered in Kerala.

KPCC president VM Sudheeran, expressing the Congress party’s solidarity with the SBT, has suggested that the LDF Government convene an all-party meeting to convey a strong message against the nefarious move.

CPI leader Pannian Ravindran saw in the plan a move by the Centre to push its corporate agenda, and said the CPI was strongly opposed to it.

The SBT has as many as 852 branches all over the state. Its merger in the SBI will adversely affect the interests of the State, the speakers at the conference felt.

Likewise, all parties in the state have come together to oppose the Centre’s move to disinvest 51 per cent stake in 22 public sector enterprises, FACT among them.

CPI(M) state secretary Kodiyeri Balakrishnan has gone on record that the disinvestment would result in the handing over of FACT to private management. It may be mentioned Kerala had seen a massive protest in 2003-04 in protest against the then BJP Government’s move to disinvest FACT.

The previous UPA Government had raised hopes of a revival of FACT with the announcement of a Rs 991 crore package to save FACT. But, for reasons best known to itself, the Government failed to implement it.

The Modi Government, which came into power in 2014, has done precious little to ensure the revival of FACT. What is shocking is that it is now up for sale thanks to a recommendation by the Niti Aayog.

Understandably, the Save FACT Action Committee, which met recently, has decided to take to the path of agitation if the Centre fails to give up the FACT disinvestment move.

The Committee has squarely blamed successive Union Governments for the present plight of the FACT, which, if properly cared for, could become a major fertilizer giant taking care of the needs of not only Kerala but also the whole of South India. (IPA Service)