Category Archives: PSU

Air India may be put up for Strategic Sale – Finance Minister

28 Sunday May 2017

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The Finance Minister Arun Jaitley’s statement that Air India may be put up for strategic sale has shocked the nation. Air India and Indian Air Lines were both profitable, but after compulsory merger by the government, the merged Air India became loss making. The unnecessary purchase of planes, almost three times its requirement, at the behest of the then Minister Praful Patel and wrong policy decisions are the main reasons. For the last three years, Air India has reduced its losses and has posted operational profit. The deficit is mainly due to the depreciation for the assets like planes etc.

Probably the government may have a feeling that once Air India becomes profitable, it will be difficult to privatise it. Hence the urgency to implement strategic sale of this great PSU.

It is no different with BSNL. Once it is posting operational profit, NITI Ayog has recommended its closure or privatisation.

The Modi government in its privatisation madness, is going to destroy all the Public Sector Units one after another. This madness has to be cured by the sustained struggle of the workers with the full support of the people, who are the real sufferers.

Steel Workers’ Strike Against Strategic Sale

24 Wednesday May 2017

Posted by in PSU, TU News - India, Uncategorized

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The workers of the three units of Steel Authority of India Limited (SAIL) at Durgapur (W.Bengal), Salem (T.Nadu) and Bhadrawati (karnataka), went on strike on 11th April 2017 against the decision f the central government for the strategic sale of these units. SAIL is in the process of appointing Advisors , investment bankers, financial institutions etc. for the sale. The strike was jointly called by all the unions including CITU, AITUC, INTUC and HMS.

This sale of the asset of the nation is being implemented as part of the ‘privatisation policy of the government’. National assets are gifted to the corporates.

We fully support the struggle and extend our solidarity!

Recession in employment.

17 Wednesday May 2017

Posted by in CG Employees, Neo-liberal policy, PSU

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While Modi Government is praising itself on more employment  in the country during the last three years of its rule, the daily reports coming in the press give a completely different picture.

The government is not filling up the vacant posts due to retirement in the central departments like Railway, Posts, Income Tax etc. etc. Public Sector Units have been directed not to fill up the vacancies. In the private sector, the situation is not different. Infoysis, Wipro, Cognizant, IBM, Ford – all these MNCs have started retrenching workers in thousands. The decision of USA, Gulf countries etc. to restrict migrant job seekers is one of the reasons.

Government of India has to take urgent steps to ensure that the young people get jobs.

HMT workforce reduced from 3500 to 235 within two decades.

11 Thursday May 2017

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HMT is in loss and some of its units are closed. It is well known that this has happened only due to the anti-PSU policy of the government.

However, Kalamassery Unit (Kerala) of the HMT is in profit even now. Orders are there, but the work force has been reduced from 3500 to 235 during the last two decades. Some of the retired workers are brought on contract basis to manage the work, but that is not sufficient. New recruitment has to take place, which the government will not allow.

When the adopted policy of the Modi Government is to close/ privatise about 75 PSUs, is it going to take care of HMT? Of course not.  The workers and people have to unitedly organise struggle to expose the government policy and save the valuable PSUs.

Resist and Defeat the Murder of Public Sector!

07 Sunday May 2017

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Since the introduction of  neo-liberal LPG policy since 1991, the governments,  Congress or BJP, have been attacking the Public Sector. Whether it is Coal, Steel, Oil, Banks, telecom or power, the government has been after it to destroy the PSUs or hand over the same to the private corporates.

Disinvestment/ closure/ strategic sale of PSUs benefit the MNCs and the Desi corporates. Once the competition from the PSUs is over, they can loot the public like any thing. The government is dancing to the tune of these corporates and big business.

The fate of the PSUs, which have been closed or sold is known to all. Large number of workers lose their jobs, trade union rights are taken away, hire and fire become the law and the prices of the products are raised sky-high. Large areas of land, buildings and equipment are all handed over to the corporates for a song, just like in the case of ITDC Hotels, Balco, VSNL etc. The national assets are gifted to the corporate sharks.

The PSUs which strengthened the financial position of the country, gave the infrastructure for many industries, saved the country from the 2007 financial crisis  – all are being murdered one after another. The government has already decided to close or hand over about 75 PSUs in this year. PSU Banks are being merged. The RBI Dy. Governor has suggested de-nationalisation of the nationalised banks!

Next target is the Railways and Postal services. Move is already afoot.

It is time that the entire working class and the ordinary people come forward and fight this attack unitedly. It is  a question of now or never!

Resist the murder of the Public Sector! Defeat the ill-motivated pro-corporate policy of the government!

Merger of PSU Banks in the Govt. Agenda

01 Monday May 2017

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After the merger of the Associated Banks and Mahila Bank with SBI, the government is proposing to merge the Nationalised Banks. Two or three PSU Banks are planned to be merged in to one. The Finance Ministry is reported to be in serious discussion in the matter. According to the Ministry, the 21 PSU Banks have to be reduced through merger.

In this connection, the reported statement of Dy. Governor of SBI that the Nationalised Banks should be de-nationalised, hints to the diabolic thinking of the government – Merge the PSUs and privatise!

Cut in coal import to PSUs, not for private companies.

01 Monday May 2017

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Each and every policy adopted and action taken by the Modi Government is favour of the private corporates and against the PSUs. The latest proposal in this series is about the coal imports. It is being reported that the government is proposing to cut the thermal coal imports to the coal PSUs to the zero level, on the plea to reduce the huge import bill. NTPC and similar PSUs will be seriously and adversely affected if the proposal is implemented.

But for the private coal companies, there will be no restriction. They will be free to import as much as they require.

This is just like the Govt.’s unjustified cancellation of the 4.5. crore and 9.3 crore mobile tender floated by BSNL for its expansion.

SBI-SBT Merger – 1250 temporary workers on retrenchment threat

07 Friday Apr 2017

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1250 temporary workers who were working in the 850 branches of the State Bank of Travancore (SBT) are under threat of retrenchment. It is reported that direction has already been issued to terminate them. This is preposterous and against labour laws. These workers are engaged for a long period. They were being exploited by denying full wages and now they are being retrenched. In addition to the trade unions, the Government and the Labour Department should intervene in the matter and ensure that they are not retrenched.

It is also to be well understood that the SBI-SBT merger and connected decisions are not isolated ones, but the well planned conspiracy of the government, MNCs and Indian Corporates to finish the PSU Banks and allow the former to take over the banking industry in the country. Working class can not allow this loot of this country.

Travancore Cochin Chemicals posts profit.

01 Saturday Apr 2017

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For the first time after many years, a Kerala Public Sector Unit,  Travancore Cochin Chemicals (TCC), has posted profit.  While the loss last year was Rs. 7.37 crore, during the LDF period the company has turned profitable and posted a profit of Rs. 5.5 crore. This is despite the increase in the wages of the workers. The production has also increased.

It is one more PSU which has become profitable after the LDF has come in to power.

Associated Banks merge with SBI today

01 Saturday Apr 2017

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Five associated banks of SBI, including State Bank of Travancore, have become part of history. All of them have been merged with the State Bank of India from 1st April 2017. This is part of the neo-liberal pro-corporate policy of the central government intended to serve the interest of private banks.

Though all kinds of assurances are given to the customers and employees of the merged banks, it will have to be seen to what extent they are honoured.

Merger is being used by the government as a tool to weaken and destroy the PSUs. It was Air India merger yesterday; today it is SBI merger; tomorrow it may be BSNL-MTNL Merger.

The workers and the people have to intervene to stop this anti-people, anti-PSU decisions.