Category Archives: PSU

Cabinet decision for closure of HMT Watch Units.

25 Saturday Apr 2015

Posted by in Neo-liberal policy, PSU

≈ 2 Comments

Tags

,

The Heavy Industry and Public Enterprises Ministry, which is the administrative ministry for the central PSUs, may move a Cabinet Note shortly for winding up of the loss making HMT watch units, which are HMT watches, HMT bearings and HMT Chinar watches. These are in loss for the last few years, mainly due to the non-support of the government following neo-liberal policies, which favour private companies. HMT Watches was an iconic company with a very high market share in the sector manufacturing excellent accurate watches.

The other loss making companies which are going to be wound up are: Hindustan Cables, Tungabhadra Steel and Hindustan Photo Films.

The government is on a plan to wind up many PSUs, on the plea of loss.

AIIEA supports 2 Days Strike of BSNL employees on 21-22 April 2015

19 Sunday Apr 2015

Posted by in BSNLCCWF - Casual and Contract workers, BSNLEU, PSU

≈ Leave a comment

Tags

, ,

Com. V.Ramesh, General Secretary, All India Insurance Employees Association, the mighty union of the LIC employees, have extended its support and solidarity to the two days strike of BSNL Employees on 21-22 April 2015 for the Revival of BSNL. We thank AIIEA for the support. The Forum of BSNL Unions/Associations have sought their support in the struggle. The copy of the letter is given below: ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION LIC BUILDING  SECRETARIAT ROADHYDERABAD  500063 Email: aiieahyd@gmail.com   PRESIDENT:                                                                                                                   Phone: 040-23244595 AMANULLA KHAN GENERAL SECRETARY:

  1. RAMESH

17th April, 2015. To All Zonal General Secretaries & Secretary, Standing Committee (GI)   Dear Comrades, Express Solidarity to BSNL Employees’ Strike BSNL Casual and Contract Workers’ Federation issued strike notice to the BSNL management and DoT for strike on 21 and 22nd April, 2015. The Forum of BSNL Unions/Associations has given call for two days strike during the same days. The strike call is given to “SAVE BSNL, SAVE NATION” andto revive the public sector BSNL.  The employees while deploring the attitude of management/government are demandingto take necessary steps for procuring sufficient equipment to improve the service and paving way for expansion and development of this public sector. Apart from the above demand the employees are also demanding the regularization of left out casual labour and contract workers and implementation of social security measures like EPF, ESI, and Gratuityetc. to these workers. AIIEA while extending its solidarity to the two days strike of BSNL employees on 21st and 22nd April, 2015 urges the BSNL management to respond positively to the demands of the employees. We call upon all our units to extend support to theBSNL employees’ strike rally across the country in coordination with BSNL Unions/Associations. With greetings, Comradely yours, General Secretary.

Government owes Rs. 600 crore to Air India

17 Friday Apr 2015

Posted by in General, PSU

≈ Leave a comment

Tags

,

Air India is struggling to come out of the financial crisis created by the government. It is in loss for the last few years. The central government should support the PSU. But the fact is that even the amount due by the government for the travel of its Ministers, officers etc. are not being paid.  At present, the government is in arrears of payment of more than Rs. 600 crore to the Air India.

BJP government is continuously stating about good governance. It also speaks volumes about supporting Air India. But what is going on? Even what is due for months or years is not being paid to Air India by the same government.

Government should immediately act and pay the arrears / due to the ailing Air India without any delay.

Allegations of Corruption against former Civil Aviation Minister Praful Patel

16 Thursday Apr 2015

Posted by in Neo-liberal policy, PSU

≈ Leave a comment

Tags

, ,

The Supreme court has asked the CBI to submit the details of its probe against former Civil Aviation Minister Praful Patel, who has ordered  a large number of 111 air-crafts for Air India, gave preferential routes to private companies taking them from Air India and the merger of Air India – Indian Airlines.

In fact, these are some of the wrong decisions which have been taken by then Civial Aviation Minister which made Air India in to loss and turmoil. I have pointed out these issues several times. PSUs are being dealt with as their kingdom by the Ministers who wants to maximum benefit personally.

Let the inquiry be over so that we will know the extent of the corruption.

Air India coming out of loss?

12 Sunday Apr 2015

Posted by in PSU

≈ Leave a comment

Tags

The latest reports indicate that Air India, which was in serious loss in gradually coming out of it. A report in the Economic Times states:

“After a streak of losses, Air India had reported a net profit of Rs 14.6 crore in December last year, from a loss of Rs 168.7 crore in the corresponding period of 2013.

Besides, it has also managed to reduce its losses from as high as Rs 7,599 crore in fiscal 2011-12 to Rs 5,490 crore in financial year 2012-13 and a further down to Rs 5,388 crore in FY-14, respectively.”

Congratulations to the workers and the management for the effort to save the PSU. Hope it will come back to financial viability soon.

It is to be remembered that the role of the Air India in evacuating persons from the war fields of Yemen as also From Kashmir, Uttarakhand etc. during natural calamities  has been widely appreciated.

No Woman Board Member, Companies will be penalised

09 Thursday Apr 2015

Posted by in PSU

≈ 2 Comments

Tags

If any listed company is not having a Woman Board Member, penalty of Rs. 1,000 a day will be imposed on the listed companies. The penalty may go to Rs. 1.42 crore plus Rs. 5,000 a day till the woman member is posted after September 2015. Good decision. There are about 1,500 listed companies which are not having woman board members at present.

This should be implemented to non-listed companies also. BSNL need not worry, since it is expected that women board members are expected to be appointed.

Disinvestment continues – 5% of Shares of NEC sold for Rs. 1,550 crore

08 Wednesday Apr 2015

Posted by in Neo-liberal policy, PSU

≈ 2 Comments

Tags

,

The NDA government has started the Disinvest Programm in the second week of the new financial year itself. 5 % of shares of Rural Electrification Corporation (REC) has been sold getting Rs. 1,550 crore to the Government. At present the government has got 65.64% shares which will now be reduced to 60.64%.

The government is saying the disinvestment is for funds to the exchequer for developmental activities. What it will do for development after all the shares are told. Disinvestment is nothing short of selling the family wares for favouring the corporates and MNCs.

 

BRPSE going to be dissolved? Government wants quick act?

07 Tuesday Apr 2015

Posted by in PSU

≈ 4 Comments

Tags

,

A news report states that the government is considering a proposal to dissolve the Board for Reconstruction of Public Sector Enterprises (BRPSE), according to Heavy Industries Minister Anant Geete.

“We are in discussions to create a new entity for sick PSUs,” he said on the sidelines of a Confederation of Indian Industry (CII) function. According to a government official, a cabinet proposal to shut down the BRPSE is being prepared.
The move is significant. It seems that the government does not want the systematic approach of declaring a PSU sick as at present. It wants for quick disposal of the PSUs and hence the new entity. The private lobby is putting pressure on the government to finish the PSUs and the Modi Government is on the job.

The government can easily make a profitable PSU into loss making as in the case of BSNL, then declare it sick and consequent privatisation or closure. The BRPSE may be being dissolved to quicken the process. Let us wait for the details

Bibek Debroy Committee recommends Railway Privatisation?

01 Wednesday Apr 2015

Posted by in Neo-liberal policy, PSU

≈ Leave a comment

Tags

The high level committee headed by Bibek Debroy has recommended for setting up of a railway Infrastructure Company which may be disinvested later. This is part of a strategy to privatise sections of railways which are much profitable.

The increase of FDI in Railways, the forming of a separate company – all these points out to  privatisation. Unless stopped in the initial stage itself, these moves are going to have  a very adverse effect on the nation.