Apex chambers of industry -- Confederation of Indian Industry and the Federation of Indian Chambers of commerce on Friday sought to downplay the anti-divestment stance taken by the Left parties.
The statement made by CPI-(M) and CPI that the government should scrap the divestment policy, sent the stock markets crashing. While the BSE Sensex lost slumped 330 points, the NSE Nifty tanked 135 points.
The Industry chambers said they would wait for the "official position" of the new government that will come at the Centre.
"This is not the official view of the new government. Many viewpoints are expressed... they were expressed in the NDA government also. The Congress-led government is yet to be in place. Let us first wait for the allies to work out a common minimum programme," N Srinivasan, CII director general (designate) told PTI.
Leaders of both CPM and CPI, emerging from an informal meeting to discuss the political situation, said the issue of divestment should be kept out of any common minimum programme that could be the basis for forming a secular coalition government.
"Obviously it goes without saying that the policy of divesting PSUs should go," CPI general secretary A B Bardhan told reporters.
FICCI secretary general Amit Mitra said the Left had disinvested loss making public sector units in West Bengal.
While admitting that Bardhan's statement has had some psychological impact, Mitra said, "the markets were over-reacting".
Srinivasan also expressed confidence that markets would bounce back next week once the new government is in place.