Privatize the stars or the duds?

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Bloomberg columnist Andy Mukherjee believes India should start its privatization program concentrating on the duds, not the top-performers:

The real candidates for asset sales in India are the ones that nobody is trying to sell. In the year ended March 2005, 73 unprofitable companies controlled by the federal government incurred total losses of about $2 billion, of which two-thirds was accounted for by just 10 companies, including two from the fertilizer industry and two from coal, one telephone-equipment manufacturer, one drugmaker and one railway operator. Why not start asset sales with this group?

Thoughts? Via New Economist.

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