New Delhi, March 31:  Recent development In Coal India Ltd., (CIL) has vindicated CITU’s strong opposition to the hollowness and  fallacy of the claims of the Govt. of India, that the disinvestments upto 49% is of no consequence as the Govt. will still have majority shares. CIL is one of the highest profit earning Maharatna PSUs in the country and the Govt. still has 90% of its shares.  But, a hedge fund operator from a foreign soil who has obtained 1% shares in CIL, is now threatening  legal action against CIL management for “working against the interest of CIL”.  These threats are aimed at the status of CIL as a PSU with demands such as  coal should be sold by CIL, only at international prices and not at the lower rates now being sold to the Indian Industries.  In a clear case of tail trying to move the head, Govt’s suicidal policy of disinvestment has allowed  1% share holder to intimidate one of the biggest PSUs in the country and the Govt. is being forced to respond to their threats not with standing the fact that coal being natural resource is owned by the people of this country and Govt. is only the trustee. CITU wonders if  1% share holder can intimidate the Govt, what will be the fate of our PSUs, with 49% shares disinvested to Indian or foreign investors? Envisaging such adverse impact of creeping privatization on PSUs,  CITU has been consistently demanding that the Govt. of India should put an end to its disinvestment policy for PSUs which is against the interests of the country.  This demand was one of the issues, on which all Central Trade Unions and National Federations of Employees and Workers organized a country wide strike on 28th February 2012. Ignoring this demand Govt. has decided in the budget  to go ahead with its policy of disinvestment with an additional target of Rs.40,000 crores. CITU demands that Govt. must immediately stop disinvestment of PSUs  to safeguard the interests of the country.