29 Thursday Oct 2015
Posted in PSU
Agreement has been reached between the Management of Coal India Limited (CIL) and the Central Trade Unions viz. INTUC, hms, BMS, AITUC and CITU for payment of Rs. 48,500 as Performance Linked Reward (PLR) for the year 2014-15 to the non-executive employees, considering the over all performance.
Congratulations to the Workers and unions of CIL!
22 Wednesday Oct 2014
Posted in PSU
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The NDA government’s move to reallocate and auction the coal mines consequent to the cancellation of the earlier licences, is nothing but moving towards denationalisation. The coal is a nationalised property and it should remain so. Instead of auctioning all the coal mines, these should be handed over to the Coal India Limited (CIL) for mining. Handing over the valuable mines to private companies should be stopped.
CITU and other trade unions have strongly protested against the wrong move of the government.
11 Tuesday Mar 2014
Kolkata, Mar 10 : The proposed three-day strike by Coal India’s executives from March 13 is expected to impact production and dispatches by 4 million tonnes of coal at a time when the miner is facing a shortfall in excess of 17 million tonne from its target for 2013-14.
“The production is peak in March. Each day the production is 1.2 to 1.3 million tonne and with the strike it is likely that it will get badly affected,” the president of Coal Mines Officers’ Association of India, P P Singh, said here today.
“But this strike, which is happening after 25 years when officers had gone for a two-day strike, is to press for performance linked pay and new pension scheme implementation, which requires the Coal Ministry’s approval,” Singh said.
The average annual impact on Coal India is around Rs 200 crore for not implementing the wage pact of 2007 in totality, he said, adding the total impact on Coal India would be to the tune of Rs 800 crore annually.(PTI)
15 Wednesday Jan 2014
Posted in PSU
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The government is squeezing all the profitable PSUs to find out funds to patch up its financial crunch. Now the Coal india Limited (CIL) has been pressurised to give Special Dividend. Accordingly the CIL will have to pay Rs. 18,317.46 crore as SD out of which Rs.16,485 crore will go to the government and the rest to the other share holders. This is the biggest dividend of all times any company has given.
CIL had already given an amount of rs. 8,842.91 crore to the government for 2012-13.
The government not only wants money, but also wants to cripple all the PSUs to ensure benefits to the private companies.
12 Thursday Dec 2013
Posted in General
The corporates are chameleons. They change their opinions completely when it suits them.
Take the example of the tax arrears of Vodafone, Nokia etc. to be paid to the government. These companies go to arbitration, court etc. for getting the tax due cancelled or at least reduced. And the government is sympathetically hearing them.
Now the Competition Commission of India has levied a fine of Rs. 1,773 crore on Coal India Limited for ‘abusing’ its dominant position in the market. Nothing of corruption or tax-evading.But the corporates, media controlled by them, are shouting together that CIL should pay the penalty and not to go to the legal remedy.
Why this double talk? The only reason is that Vodafone, Nokia etc. are MNCs and private companies. They should not be ‘harassed’ by tax etc. But Coal India Ltd. is a PSU.Hence it should obey all rules and should pay the penalty without any opposition!
06 Friday Dec 2013
Posted in PSU
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The decision of the government to disinvest 10% of stakes in Coal India Limited (CIL) is strongly opposed by the unions in the PSU. At present the government is having 90%, out of which another 10% is proposed to be disinvested. The Unions have given a call to go on a 3 days strike against the same from 17th December.
Sensing the strong opposition of the workers, the government is proposing to disinvest 5% only at present. It does not want a strike in the strategic coal sector, along with the already crises due to the serious corruption cases.
But the Unions are sticking to their position, and rightly so. They are continuing with the strike preparation demanding that no disinvestment should take place in CIL.
Our complete support and solidarity to the CIL workers in their struggle to defend the PSU.
02 Monday Dec 2013
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One of the most important agenda of the UPA-II government has been and is the selling of the Nation’s wealth to the private on the plea of reducing the financial crunch. But it is more than that. The government wants to wealth of the Nation’s wealth for maximising the profit of the private corporates.
Tomorrow, 3rd December 2013, a meeting of the high level Ministers are going to take place to speed up the Disinvestment process. A target of Rs.40,000 crore was fixed for 2013-14 through selling shares of PSUs, but so after it has received only Rs. 1325 crores by selling shares of six PSUs.
Government wanted to disinvest 10% shares of Coal India Ltd. but due to strong opposition from the trade unions, it could not be done. Now the government is proposing to sell 5% of the shares of CIL. Government has 90% shares in CIL now.
Further the government is proposing to hand over the balance shares of 49% shares of BALCO and 29.5% shares of Hindustan Zinc Ltd., the majority shares of which are are already with Vedanta group of companies. These were sold in 2001-03 despite strong opposition and strike from the unions. Now both these will be fully under the private companies. This is what the government wants to do with all PSUs one after another.
I am sure the workers of these PSUs will fight against this privatisation process. They should be given full support and solidarity.
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