A letter to Scottish First minister:
Dear Alex Salmond,
Let me first introduce myself. My name
is Arul Krishna moorthy. I migrated to Scotland from India about 5 years ago. I
work for an investment management company & live in Edinburgh with my
family. I am one of your well-wishers and supporter of an Independent Scotland.
Like many of us, I am also sad due
to the decision of Ineos’s decision to shut down the Grangemouth petrochemical
plant. I understand that the future of Grangemouth refinery is also uncertain.
Grangemouth is Scotland’s most important
Industrial complex; I have head estimates that more than 10 thousand indirect
jobs depend on it. It’s very important to Scotland especially the central
Scotland. We don’t want that place to be turning into another deprived area
like some ‘former’ mining community.
The situation does appears to very
grave, I also see this as an historic opportunity to the ‘Yes’ Campaign
especially the SNP. Yes. An opportunity that can shape the history, the
history of Independent Scotland.
If SNP gets this issue right under your
leadership, and brings about to an amicable solution to the crisis, it has
potential to lead the ‘Yes’ campaign to victory.
I would recommend the following strategy.
Nationalization should not be the first choice. If we do that we will be
creating a liability rather than an asset for the future generation.
Start looking out for potential bidders.
You may have even have to look beyond Europe for potential bidders. May be
you should take on the Chinese supported Ineos with some Indian or Russian oil
oligarch. There are people who can turn around failing businesses in a
successful and efficient one.
Take the example of Jaguar Land Rover,
it was acquired by the Indian company Tata motors at the depth of recession.
The automakers were cutting down production and shutting down plants.
The company came with the promise of not closing any plants. The company
is a great turnaround story. They are one of the largest and a
consistent employer in the last 5 years. The employees of Jaguar Land
rover are happier and more secure than ever.
The Tatas does not have experience with
petroleum; Reliance is a better fit because of the background in petro-chemical
industry. Reliance Industries runs the world’s largest refinery at
Jam Nagar in India.
We need to understand that 'Its not
that case Ineos is not interested in the plan when it is ready to commit £
250 Million' additional capital. Its just playing hardball in return
expecting more concessions. Bringing in potential bidders will strengthen the
Government stand at negotiation table with Ineos.
If these potential bidders become owners
then they can be promised small short-term governmental help but larger longer term
incentives to get their long term commitment in the area.
Additionally, I would recommend that you
send your best team in the cabinet (& party) to be there in the impacted
community at this hour. The people there should know that your team is
there for them, when they need them.
Neither nationalization nor bailout
(similar to the one for banks) is needed now. A good potential investor, who
can turn around the company, is what we need.
For Robert Bruce ‘battle of Bannockburn’
was major turning point, it was also turning point in the History of
Scotland. It made the Scotland independent from England. It’s not
mere co-incidence that Bannockburn is located near Grangemouth.
I think the current moment is like
‘Battle of Bannockburn’, it can change the course of the campaign and the
future of Scotland. As many would agree, the Grangemouth victory is
needed before the ‘Yes’ vote victory in the referendum.
