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‘I see no reason to oppose National Monetisation Pipeline scheme:’ Omar Abdullah

Former Chief Minister of Jammu and Kashmir, Omar Abdullah stated on Wednesday that he sees no reason to oppose the National Monetisation Pipeline (NMP) and hoped that the bidding process would be transparent.

Nirmala Sitharaman, the Union Finance Minister, has launched a Rs. 6 lakh crore initiative to unlock the value of infrastructure assets in sectors ranging from power to roads and railroads.

According to the minister, the asset monetisation strategy would not involve the sale of land, but rather the monetisation of brownfield assets. ‘I see no reason why I should oppose a scheme that is looking to monetise an asset that otherwise is not giving me a suitable return. If the same asset would have been privatised, I would then have questioned the government,’ Abdullah said adding that it is important to draw a distinction between privatisation and monetisation. The former CM went onto say that the ‘Monetisation is giving an asset on lease but not transferring the ownership of that asset.

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The vice-president of the National Conference also expressed his wish for a transparent bidding method. ‘I hope that the process that is followed is transparent.’

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