[Marxistindia] PB communique

[news from the cpi(m)]

December 10, 2017


Press Communique


The Polit Bureau of the Communist Party of India (Marxist) met in New
Delhi on December 9 & 10, 2017. It has issued the following statement:

Cyclone Ockhi:
Central Government Must Provide Adequate Relief

Cyclone Ockhi has caused immense damage in the states of Kerala and
Tamilnadu. In Kerala over a hundred people have been reported as dead and
nearly a hundred are still missing. Thousands of houses, mechanised and
country boats of fishermen have been damaged. In Tamilnadu thirty people
have been reported killed while over a thousand are missing There has been
largescale damage to houses, crops and property.

Given the fact that there are a large number of people still missing, the
central government should ensure the continuation of the search and rescue
operations in sea by the navy, air force and coast guard for some more
days. It is also pertinent that the National Disaster Management Authority
should be revamped to ensure that warnings are conveyed to the concerned
states in time.

The Kerala State government has requested the central government to
declare cyclone Ockhi as a calamity of severe nature and provide an
immediate assistance of Rs. 1843 crores.

Hate Crime Condemned

The Polit Bureau of the CPI(M) strongly condemns the brutal killing of a
migrant labourer Mohd. Affrazul in Rajsamand, Rajasthan. Affrazul comes
from the state of West Bengal. The Polit Bureau demands that the alleged
killer identified as Shambulal Regar must be severely punished in
accordance with the law.

The atmosphere created by the politics of hate and the Hindutva Brigade
continues to rampage across the country attacking Muslim minorities and
dalits. The patronage provided by the BJP governments both at the Centre
and in the states are actually encouraging and protecting such hate
crimes. The killers of Akhlaq have been given jobs in the public sector
NTPC. BJP MPs hail such killers. The culprits named by Pehlu Khan in his
dying declaration have all been set scot free. The victims of attacks are
being booked under the law while the culprits roam around freely with
impunity.

The CPI(M) Polit Bureau reiterates its demand that this BJP Central
Government headed by Prime Minister Narendra Modi must by legislation ban
such private armies of gau rakshaks and ‘moral policing’ spreading havoc
across the country.

FRDI Bill

It is clear that this Modi government is rushing through the Financial
Resolution and Deposit Insurance Bill in the coming Winter session of
parliament. This is a blatant attack on crores of common depositors who
save their life long earnings in bank deposits. This only helps the banks
and the financial institutions to recoup their health at the expense of
the depositors. While these banks have given humongous loans to the
corporates which are not being returned, the consequent loss to the banks
is sought to be made up through savings of crores of depositors.

This Bill falls in line with the recommendations of international finance
capital which prescribes that in order to prevent any future global
financial meltdown like that one happened in 2008 banks and financial
institutions must ensure a process of “bail in” rather than “bail out”.
The huge bail out packages given by various governments to banks and
financial institutions to over come the global crisis of 2008 converted
corporate insolvencies into sovereign insolvencies. This has crated a new
crisis for global capitalism and this continues to plague the global
economy.

In case a bank reaches a state of collapse this FRDI will have the power
amongst others to exercise any one of the three measures to protect the
bank. These are – sale to any other financial firm, including foreign
corporates; the incorporation of a bridge institution (merger of banks as
is currently being proposed by this BJP central government) or initiating
a ‘bail in’ process.

If this comes into effect as law then the RBI’s mandate would shift from
supervision, regulation and monetary policy to ensuring financial
stability in the country. This would mean in fact that the interests of
the ordinary depositors in the banks would be sacrificed in favour of
protecting, both, the banks facing collapse and the corporates who have
heavily borrowed from the banks.

The power to ensure that a failing bank can be recapitalized with
depositors money and material without the depositors consent. There is no
guarantee for protecting the depositors money.

The CPI(M) will oppose this legislation in parliament in the current form
and will seek the support of all other parties to do the same in the
interests of tens of crores of our people whose life long savings are
jeopardised.

Preparations for 22nd Party Congress

The Polit Bureau finalised the schedule of state conferences and the
central leaders who will be attending. 25 state committees will have their
conferences in the run up to the 22nd Congress to be held at Hyderabad
from April 18 to 22, 2018.

The Polit Bureau discussed the Draft Political Report for the 22nd
Congress. These discussions will now be placed for the Central Committee’s
consideration at its forthcoming meeting from January 19 to 21, 2018 at
Kolkata.







For CPI(M) Central Committee Office