Mumbai: The Finance Ministry’s intent to divest its stake in tobacco companies is a welcome step towards tobacco control. The ‘Coalition Against Tobacco’ had recently written to the Indian Prime Minister, highlighting the environmental dangers and degradation at multiple levels due to production and processing of tobacco. The Health Ministry has reportedly raised concerns about government stake in tobacco companies and the Finance Ministry is reported to be considering a divestment of its stake in tobacco companies. The discussions of divestment by the Finance Ministry are commendable and indicate their intent towards better public health and a healthier environment.
Commenting on the development, Dr. Pankaj Chaturvedi a head and neck cancer surgeon at the Tata Memorial Hospital and a member of the Coalition said “this move by the Finance Ministry to consider divesting its stake in tobacco stocks is a big step towards a tobacco-free India. The damage that this socially undesirable evil has been doing to our people can finally be reversed through action by the state and civil society, by the government’s bold step of moving out of this business”
“Tobacco cannot in any way be seen to be contributing positively to the society. The Government’s move is a truly pioneering one especially considering that it will be foregoing huge amounts in dividends from these companies. This fact displays the strength of the Government’s resolve of ensuring a tobacco-free India” said Mrs Sumitra Pednekar, a member of the ‘Coalition Against Tobacco’ and petitioner in the Public Interest Litigation (PIL) in the Mumbai High Court against these investments made by state owned insurance companies in tobacco manufacturers.
“This is a good move and in complete consonance with the stated intent of the government of tobacco control. We really appreciate the government’s efforts in that direction and pledge our full support to it in this noble cause” added Dr Badwe, Director, Tata Memorial Hospital, Mumbai and another prominent member of the Coalition.
On implementation, this will be a major step in dissuading other institutions from investing in this industry and stop promoting tobacco and its consequences in a country like India where almost a million people die annually due to usage of tobacco and tobacco products.
