June 26, 2002 | 1614 IST
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Money > PTI > Report June 26, 2002 | 1614 IST |
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Deve Gowda opposes FDI in print mediaFormer Prime Minister H D Deve Gowda, opposing National Democratic Alliance government's decision to allow 26 per cent foreign direct investment in print media, said on Wednesday it would "damage" the country's sovereignty and give scope for foreign investors to "destabilise our political system." Accusing the Vajpayee government of having acted with "unseemly haste," Gowda said the decision would not only hurt the nation's interests but also meant that "they (foreign investors) can directly get involved in Indian politics. They can play a major role to destabilise our political system". Dismissing the government's contention that it was only logical to allow FDI in print medium when it was already permitted for the electronic medium, Gowda said that even today the print medium played a major role in strengthening the country's "democratic fabric." But, unfortunately, the Vajpayee government had "not acted with care and their hurry would not protect national interests," Gowda said. "I oppose the decision tooth and nail," he added. Gowda disagreed with the government's contention that enough safeguards have been taken to protect national interests. The foreign investor on the board of management would certainly have his say on all matters and this being the case, would not make much of a difference even if key editorial positions were held by resident Indians, he said. Indian print medium, he said, was in no way inferior to their foreign counterpart and wondered how the move would help in technological upgradation. Tamil Nadu chief minister and AIADMK supremo Jayalalithaa also opposed this decision and said: "Centre has taken a wrong decision. My party MPs will oppose the move in Parliament."
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