The raging controversy over sell-out of government sector undertakings has politically isolated Arun Shourie, the Federal Minister for Disinvestment, the lone remaining flag-bearer of the government's economic reforms policy.

With the next general elections fast approaching, many of his colleagues both in the government and in the Bharatiya Janata Party (BJP) have started to develop cold feet realising that however beneficial for the country, the policy will make the government unpopular among the working classes who are not very enthusiastic about the sell-outs.

It was a setback of sorts for Shourie, the economist-turned-journalist-turned-politician, when the Cabinet Committee on Disinvestment (CCD) decided to defer disinvestment of two profit making government-owned oil companies Saturday last, buckling under pressure of the Defence Minister George Fernandes and the BJP's ideological fountainhead Rashtriya Swayamsevak Sangh (RSS).

The RSS, which otherwise supports the disinvestment policy, is opposed to selling out companies under the category of strategic sector, which includes oil and defence.

Earlier, Prime Minister Atal Bihari Vajpayee had shifted his finance minister Yashwant Sinha to the foreign office since his reformist policies were seen as the main reason for the BJP's poor performance during February polls in four provinces.

It is being stated that Shourie is feeling both unhappy and isolated with this development and if the government decides to stop the process, he might end up resigning from his post.

The decision to put off disinvestment of the Hindustan Petroleum Corporation Limited (HPCL) and the Bharat Petroleum Corporation Limited (BPCL) were put off for three months apparently to invite opinions from all concerned and take a fresh look at the policy.

Shourie is said to be frustrated since he feels he is merely doing the job assigned to him by the prime minister.

However, much to his chagrin he has discovered that the ministers concerned, whenever he put up a government owned company for sale, come out in the open in its opposition.

Worse still, many a time he is openly accused of working to benefit the private sector companies.

Ministers for Coal and Mines Uma Bharti and Petroleum and Natural Gas Ram Naik are among Shourie's colleagues who have openly objected to the moves to privatise companies falling under respective ministries.

"The current movement (of opposing disinvestment) has become the best opportunity for everybody to ambush disinvestment," an unhappy Shourie was quoted as saying at a seminar in Mumbai recently.

According to sources close to Shourie, the only thing that is holding him back in the government is that both Vajpayee and Bharatiya Janata Party president M. Venkaiah Naidu are still supporting him.

"But how long can they withstand the kind of pressure being put on them remains to be seen. Any change in policy on the name of a mid-term review will definitely see the minister put in his papers," sources said.

Attempts of Fernandes to win over support of Naidu failed recently when he called on the BJP chief to make him see the point.

"Reforms process is irreversible", Naidu was quoted as saying at Jaipur on Wednesday during a party function.

He also added that under no circumstances will the BJP drop its basic ideology. All that he advocated was giving a "human face" to the policy of disinvestment.

The BJP circles, who have been unhappy with Shourie's "too self-righteous" stand, are happy with the minister's miseries. They point out that could be just a matter of time before the party is forced to change its policy since it cannot remain immune to unpopularity that the policy is generating.

The party circles also point out that a large majority among Vajpayee's cabinet ministers are supporting a review of the policy.

It is believed that Vajpayee on his return from the week-long U.S. tour will soon initiate the process to find out if the policy needs a readjustment with an eye on the vote bank politics, which in turn will determine whether Shourie will remain in the government or quit, since he is in no mood to compromise.

Our Chief Correspondent

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