The Central Government has decided to sell 26% share in BEML, a defence ministry PSU, out of its share of 54.03%, which results in strategic sale of the PSU to a private owner. Government expects to get about Rs. 1,000 crore.
BEML, established in 1964, operates in mining, construction, rail, metro, defence etc. Modi Government is aggressively privatising PSUs to benefit the corporates. It had already approved for the strategic sale of BCPL and Hindustan Antibiotics Limited a few weeks back.
We hope that the CPSTU Convention being held at Bengaluru on 29th January 2017 will seriously consider this and take and necessary steps to defeat the same.