Category Archives: PSU

Matters connected with Public Sector Units (PSU)

Air India improves service and financial viability – Why not BSNL?

03 Thursday Jan 2013

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Air India was continuously incurring loss for the last few years and was in real difficulty. But now it is bouncing back with more passengers,more flights and more revenue.The market share increased from 15.4% in April to 21% in November 2012.
Now Air India is able to avoid much delay and is arriving in time, the average passenger yield increased form Rs. 8210 to Rs. 8828 which helped in financial viability.Of course the fall of Kingfisher Airlines also helped.

It is one more testimony that the loss making PSUs can bounce back. This happened in the case of Steel Authority of India(SAIL). This can also happen in the case of BSNL and MTNL if determined efforts are made by the management and workers.

Let us do that. Make all out efforts for the BSNL to bounce back.

What is the salary of a CEO or Director of a company?

27 Thursday Dec 2012

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Managements of companies always complain about the total amount of salary being paid to their employees. BSNL Management is also on the same line. But what are the facts?
The CEOs and Directors of companies are being paid very high salaries, even to more than 5% of the total revenue of the company to the CEO and similar to directors also. According to the rules there is a cap of 5% which is also violated. At last the government wants to know how much the CEOs and Directors are given in comparison with the median wage the employees are getting. As such the companies will now be asked to report about the comparison of the wages of the top executives and the other employees.
The BSNL Management should also declare what is total salary bill, the perquisites and also other monetary benefits that is being paid to the CMD and the Directors

RCF – One more PSU in the disinvestment line

27 Thursday Dec 2012

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The Cabinet Committee on Economic Affairs (CCEA) have approved the disinvestment of Rashtriya Chemicals and Fertilisers (RCF) in its meeting yesterday. 12.5% shares will be disinvested reducing the present government holding from 92.5% to 80%. The government is planning to sell 6.89 crore shares of Rs. 10.00 each.
RCF is profit making mini-ratna company with more than Rs. 82.88 crore revenue in the last quarter. After the win in the FDI voting in the Parliament, the government has once again started aggressive disinvestment process.

Strike by Bank Workers on 20th December 2012

20 Thursday Dec 2012

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In protest against passing of the Banking (Amendment) BIll, which is against the interests of the people and the future of the PSU Banks and also workers, the Ban employees went on a full strike on 20th December 2012. The strike, as usual, was complete success.
My Hearty Congratulation to the Bank Workers and their organisations!

CPSEs demand more autonomy in running the PSUs

08 Thursday Nov 2012

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The CMDs of the central PSUs have demanded the Heavy Industries Ministry to grant more autonomy and powers to the PSUs to run the organisations effectively. This is fully justified since on most of the issues there is acute delay in getting the nod of the government on many important issues.

It is not sufficient. The unnecessary intervention of the government in the normal running of the PSUs should be reduced. How the 45 million GSM tender and the 95 million tender in BSNL was cancelled due to the intervention of the government is well-known.

Instead of taking all the surplus cash of the PSUs by the government, it should be able to accept the suggestion of the PSUs for further development and expansion.

HMT shifting to manufacture of defence products

29 Monday Oct 2012

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Hindustan machine Tools (HMT) is gradually shifting to manufacture of defence products. For some time the PSU was on loss and had to rent/sell its land etc. But now they have started producing defence products like weapons, missile parts etc. and may come out from the difficult times.  ITI, which was also in similar difficulties has turned to defence equipments in the past few months.

Let both these PSUs, which have been the torch-bearers of growth in India, regain their past glory early. My Best Wishes for their early recovery and flourish!

Congratulations to NALCO workers for successful strike – CITU

24 Wednesday Oct 2012

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CITU congratulates the workers and executives of NALCO for the successful one day protest strike today (20.10.2012) against the proposed further disinvestment of 12.5% of its shares.  More than 25000 workers and executives have participated in this united strike action called by all the Trade Unions including affiliates of CITU, INTUC, AITUC, BMS, HMS resulting in a total strike in the plants and offices of NALCO.

All the Trade Unions in the state of Odisha have organised solidarity demonstrations and rallies all over the state to express solidarity with the strike in NALCO. Thousands of workers have participated in these demonstrations.  CITU congratulates all the workers and the trade unions for their solidarity actions in support of the NALCO workers.

Trade unions all over the country are determined to safeguard the interests of the country and will not allow the government to go ahead with their sell out of the assets of the country.

CITU calls upon all sections of workers to carry forward the struggle against privatisation, which is a part of the over all struggle against neoliberal policies of the UPA government

Organise Protest actions against anti-worker decisions on 20th Sept.

17 Monday Sep 2012

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BSNLEU has given call to organise protest demonstration on 20th September against the disinvestment of PSUs, increasing diesel price, limiting LPG to 6 cylinders in a year to a family, 51% FDI in multi-brand retail etc. The UPA government in the name of reform are attacking the common people and the toiling masses. Make the programme a complete success.

Government approves stake sale in 4 PSUs to raise Rs. 15,000 crore

14 Friday Sep 2012

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PSUs are on sale! The family silver is being gifted to India Inc. Aggressive implementation of neo-liberalisation policy.

The government today approved sale of its minority stakes in four public sector firms — Hindustan Copper, Oil India, MMTC and Nalco– to raise up to Rs 15,000 crore.
The Cabinet Committee on Economic Affairs (CCEA) has, however, not taken any decision on disinvestment of Neyveli Lignite, that was also on the agenda.
The government has approved the proposal to sell 10 per cent stake in Oil India Ltd and another 9.59 per cent disinvestment in Hindustan Copper Ltd, sources said.
Further, the CCEA also cleared the proposal of 12.15 per cent stake sale of Nalco and 9.33 per cent in MMTC through Offer for Sale (OFS) route.
However, the 5 per cent stake sale of Neyveli Lignite was not taken up by the CCEA, sources added.

Govt. move to disinvest in 5 PSUs

13 Thursday Sep 2012

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The central government is on the move to sell shares of 5 more PSUs in the near future. The Union Cabinet which is scheduled to meet today is reported to take decision on selling of stakes of 5 PSUs viz. Hindustan Copper Limited ( 9.6%), NALCO ( 12.2%), Oil India Limited (10%), Neyveli Lignite Corporation Ltd. ( 5%) and MMTC (9.3%).The government has projected abour Rs. 18,000 crore through this sale.

This aggressive disinvest programme has been on the line in accordance with the neo-liberal policy of the government. The Central trade Unions have strongly objected to any disinvestment and ‘No Disinvestment of PSUs’ is one of the most important demands they have raised in the All India Convention held at New Delhi on 4th September 2012.