Category Archives: PSU

Oppose FCI Privatisation

21 Sunday Sep 2014

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Food Corporation of India (FCI) was formed in 1965 as a Public Sector for proper collection and distribution of food grains to the people, especially in the rural areas. It collects the grains from the surplus states, stores it and distributes to the required places. This was being efficiently done till a few years back. Major wheat producers are Punjab and Haryana and rice producers are A.P. and W.Bengal. The grains are procured from these states and distributed to other states. This is the responsibility of the Central Government and FCI is the distribution agency.

Now the NDA government is on the move to privatise FCI. First bifurcate in to three separate units and then gradually privatise. Such a decision will be harmful to the people since the private companies are only interested in increasing their profit and not the benefit to the people.

The Unions in the FCI have strongly protested the privatisation move. We fully support and extend our solidarity to the struggle of the FCI workers to save FCI and the people.

Insurance Bill to Select Committee

14 Thursday Aug 2014

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The BJP Government had no other go but to send the Insurance (Amendment) Bill to the Select Committee due to the strong opposition of Left and other parties. What stand the congress members in the committee will take? It was they who brought the bill earlier. Anyway, there is some time before any final decision is taken. A very strong movement has to be built up against the bill, which is intended to weaken the PSU LIC and favour the foreign private insurers.The time has to be effectively used.

LIC Agents Protests Insurance (Amendment) Bill

06 Wednesday Aug 2014

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The wide-spread opposition against the Insurance (Amendment) Bill presented in the Parliament is increasing day by day. The All India Insurance Employees Association (AIIEA) has declared that they will go on strike if the amendment is adopted. Left and other opposition parties are also opposing.

Now it is the LIC Agents who have come to the forefront opposing the bill. The Life Insurance Agents Association of India with a membership of 11.78 lakhs, has expressed its strong opposition to the bill and organised demonstrations in many parts of the country. They are afraid that the bill is completely against the interests of the agents.

Disinvestment of PSUs, SAIL, RINL and HAL

06 Wednesday Aug 2014

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The government moves fast on the Disinvestment of PSUs. It wants to give all benefits of these PSUs for maximising the profits of the private companies. Now it is the turn of HAL, SAIL and RINL.  5% shares will be sold in SAIL, 10% each in HAL and RINL.

Another PSU, Tyre Company of India, will be fully sold.

This is as per statement of the Finance Minister Arun Jaitley in the Parliament.

 

 

 

 

 

 

Govt. plans for Telecom Finance Corporation

05 Tuesday Aug 2014

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In a reply to a question in Parliament, Communications Minister Ravi Shankar Prasad stated that it is proposed to set up a Telecom Finance Corporation which will be registered as a non-banking and non-deposit infrastructure company. It will be a Public Sector Company under the administrative control of DOT.
The Telecom Finance Corporation is intended to help the private telecom operators, who require massive funds for expansion, there is no doubt about the same. It is expected to be started by 2017. Whether there will be any benefit for the PSUs, BSNL and MTNL?

Insurance Bill will not be taken today in Rajya Sabha

04 Monday Aug 2014

Posted by in AIBDPA - BSNL DOT Pensioners, BSNLCCWF - Casual and Contract workers, BSNLEU, PSU, TU News - India

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The strong protest and opposition from the opposition parties had its effect. The Insurance Bill proposing to increase FDI from 25% to 49% in the Insurance Sector, which was proposed to be taken today in the Rajya Sabha, is not in the list of bills for today. The NDA Government could not get sufficient numbers to support in Rajya Sabha where it is in minority.
The All India Insurance Employees Association has called for strike on the day on which the Insurance Bill will be taken for discussion. BSNLEU, AIBDPA and BSNLCCWF have given full support to the decision and will organise support actions.

Opposition Parties Oppose the Insurance Bill, Increase of FDI from 25% to 49%

02 Saturday Aug 2014

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The Left and other opposition parties have strongly opposed the Insurance Bill presented in the Parliament. Though the BJP/NDA government has got majority in Lok Sabha, it does not have majority in Rajya Sabha. The Congress brought the bill in the UPA time, but could not succeed in adopting it. Now it says that the bill should be sent to the Standing Committee.

The Insurance Bill intends to increase the FDI from 25% to 49% in the sector. This has been strongly opposed by the opposition, especially the Left Parties. The Unions in the LIC and General Insurance had gone on sustained struggles opposing the Bill. The AIIEA has already given a call to go on strike on the day when the bill is taken for discussion in the Parliament. We fully support the demand of the Insurance unions to scrap the bill and will give all solidarity to their struggles.

Bank Nationalisation completes 45 years

18 Friday Jul 2014

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The Nationalisation of 14 Banks, converting them to Public Sector Banks, will be completing 45 years as on 19th July 2014. The decision has resulted in huge benefit to the nation and the people.
But now, under the neo-liberalisation policy, the government is trying to privatise these same banks.
But it is not easy. The workers will fight back with all their might.

COAL Unions oppose disinvestment

18 Friday Jul 2014

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The Unions in Coal India Limited have strongly opposed the proposed selling of shares of the company and has threatened to resort to strike action, if the government moves in that direction. The3 government is proposing 5% stake sale out of the 90% shares with the company.
It is to be noted that a few years back, the unions had stopped the proposed sale of 10% shares of the company.
Our wholehearted support to the workers of Coal india Limited.

Supreme Court to hear the Workers and management’s views on AI-IA Merger

18 Friday Jul 2014

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The Supreme Court today decided to hear the appeals filed by both the Management and the Workers unions with regard to the case pending in the Air India -Indian Airlines Merger.
The merger was done without due consultations with the unions, which had strongly protested. Later a lot of struggles took place by certain sections of workers citing discrimination and injustice.