National Aluminium Company Limited (NALCO) posted an increased Rs. 722 crore profit in the quarter ending December 2017. The profit in the same quarter in 2016 was Rs. 235 crore and in 2015 Rs. 144 crore. It is reported that there is 207% growth for the PSU. Hearty Congratulations to the workers and management of NALCO who made this profit!
It is to be remembered that the Bajpayee government wanted to sell NALCO in 2001, at the same time as it sold 51% of shares of Bharath Aluminium Company Limited (BALCO) to Sterlite Industries. But the trade unions and the people of Orissa made such a strong protest and agitation that the government was compelled to turn back from the disastrous move.
Now the Modi Government is in a mad rush for selling the PSUs, the valuable assets of the people, to the corporates. It has to be fought and defeated as was done in the case of NALCO. It is not impossible.