Kharagpur Telecom Factory was proposed to be closed and handed over to Tata, which has got a factory nearby. Due to local struggle and intervention from BSNLEU CHQ, the factory was not closed and manufacturing of towers was started there. Some other Telecom Factories like Jabalpur, Richai etc. are also manufacturing towers. There is much demand for towers. There are more than hundred towers manufactured and stored in the TFs, but no order from the Circles/SSAs. Orders are being given to private companies. Despite clear instructions from Corporate Office that towers should be purchased from Telecom Factories, why subordinate offices are purchasing from outside. This has to be stopped. Please check whether your circle is ordering from outside and if so ensure that it is stopped and orders are issued to Telecom Factory only.

The Government has identified more PSUs to be disinvested next financial year. ” We will identify 8-10 public sector firms for the next fiscal” is the reported statement of a finance ministry spokesman. 

The PSUs targetted are Cochin Ship Yard, AMMTC, RINL, NALCO,  Neyveli Lignite Corporation, Bharat Electronics Limited, Container Corporation of India, Power Finance Corporation and Bharat Heavy Electricals Limited etc. The decision of the National Co-ordination Commitee of  Public Sector Trade Unions to observe Anti-Disinvestment Day on 1st Decemmber 2010 is very timely and apt.

There is one Department in the UPA Government which works overtime through out the year. Of course, it is the Department of Disinvestment. Because, it is one Department of the Govt. which aggressively does its work.

It has got targets to sell all the PSUs one after another. The latest is going to be the Indian Oil Corporation (IOC). At present the Govt. is having 78.92% share. After the share issue,.. it will be reduced to 62.65%. As the first step towards share sale,  six  Merchant Bankers have now been appointed to to evaluate the company. They are Citigroup, BofAMerril Lynch, Morgan Stanely, ICICI Securities, SBI Capital Markers and UBS. The target is Rs. 19,000 crore. Coal India Target was RS. 15,000 crore.

The Government continues its policy of selling the golden PSUs, which have been termed as “Temples of Modern India ” by Pandit Jawaharlal Nehru, the first Prime Minister of India.

The Non-Performing Assets of the Public Sector Banks in India has increased to Rs.57,301 crore in 2009-2010. This is more than 30% more than last year, which was Rs.Rs.44,039 crore. NPA is the name given for the loans taken from the banks and not repaid. These non-payments mainly are by big industrial houses, business, rich and powerful people. Hence not much effort is made to get it repaid. These NPAs of thousands of crores increases every year.