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The decision of the government to close sick PSUs has been condemned and strongly opposed by the Central Trade Unions. They have stated that there is no justification for the closure and the decision should be rescinded. They also suggested that these PSUs can be revived, if the government changes its policies.

The government earlier decided to close about 25 PSUs which are in loss, including BSNL and MTNL. In the first stage, it proposes to close PSUs, viz. HMT Watches, HMT Chinar Watches, Hindustan Cables, Hindustan Photo Films, HMT Bearings and Tungabhadra Steel Products. There are about 3,600 employees who will lose their jobs if the companies are closed.

The move of the government is only to close the PSUs, one after another to favour the corporates and private business and also to help them to increase their profits and eliminate competition from the PSUs.

The strong position taken by the Central Trade Unions should be supported by the entire trade union movement in the country. The National Protest Day on 5th December 2014 called for by the 11 Central Trade Unions should  be made a gigantic protest movement by participation of crores and crores of workers from all industries, central/state government employees, PSUs etc.

We demand that the government should drop the proposal to close the PSUs; instead its should take urgent action to revive these loss making PSUs.