The decision of the government to disinvest to an additional 10% of shares Coal India Limited have been put in cold storage, according to media reports. The government has been compelled to step back from disinvestment on the strong protests of the employees unions. The proposal was to disinvest stake which will get about Rs. 20,000 crore. The five national federations of the coal workers have jointly opposed the move. They have also pointed out the assurance of President Pranab Mukherjee, when he was the Finance Minister, that there will be no additional disinvestment of Coal India. Coal India is the biggest PSU with about 3.57 lakh employees.
My Hearty Congratulations to Com. Jibon Roy, leader of All India Coal Workers Federations and other Federations in Coal India for their success in thwarting the government’s disinvestment plan.