01 Thursday Aug 2013
Posted in PSU
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The Cabinet Committee on Economic Affairs(CCEA) has approved the sale of 10% government shares. The government expects to get Rs. 3,840 crores by the sale. At present, the government has 78.92% shares, which will be reduced to 68.92% after the disinvestment.
The government is on a selling spree. Before the General elections, they want to sell maximum PSU shares and enrich the private big business and get maximum election funds from the corporates.
06 Saturday Jul 2013
Posted in PSU
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Left parties today demanded that the Centre withdraw its decision to sell five per cent stakes of the public sector Neyveli Lignite Corporation to private players.
21 Friday Jun 2013
Posted in PSU
The Cabinet Committee on Economic Affairs (CCEA) has cleared 5% share sell in Neyveli Lignite Limited Corporation (NLC) expecting to get substantial amount.
Cabinet and Disinvestment Department is on a 24 hours day work for selling the family silver to the private companies.
14 Friday Jun 2013
Posted in Telecom
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The move to disinvest at least 10% stake in Telecommunications Consultants India Limited (TCIL) has strengthened with the DOT starting initial preparations for the same. TCIL is 100% government-owned and is a profitable PSU. Its net worth is assumed at Rs. 1331.11 crores and is having operations in 58 countries. Many of the DOT / BSNL officials are working in TCIL on deputation basis. A small % of shares will be open for employees under ESOP scheme.
We are opposed to the disinvestment. It has to be seen how the employees of the TCIL react to the new development.
27 Monday May 2013
Posted in Telecom
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The Department of Disinvestment (DoD) had sent a draft note to the Cabinet Committee on Economic Affairs (CCEA) for selling of an additional 10% shares of the profitable Indian Oil Corporation (IOC) for raising over Rs. 7,000 crore. The government share will come down from 78.92% to 68.92% through the sale.
Once again, the Central Government has initiated disinvesting of PSU shares in a big way. It was only a few days back that the government decided for 10% selling of Coal India shares which has been stopped by the workers’ protest.
27 Monday May 2013
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The decision of the government to disinvest to an additional 10% of shares Coal India Limited have been put in cold storage, according to media reports. The government has been compelled to step back from disinvestment on the strong protests of the employees unions. The proposal was to disinvest stake which will get about Rs. 20,000 crore. The five national federations of the coal workers have jointly opposed the move. They have also pointed out the assurance of President Pranab Mukherjee, when he was the Finance Minister, that there will be no additional disinvestment of Coal India. Coal India is the biggest PSU with about 3.57 lakh employees.
My Hearty Congratulations to Com. Jibon Roy, leader of All India Coal Workers Federations and other Federations in Coal India for their success in thwarting the government’s disinvestment plan.
17 Monday Dec 2012
Posted in Neo-liberal policy
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After somehow managing to pass the FDI in retail resolution in Parliament, the UPA government is aggressively pursuing the disinvestment process of PSU shares. It is reported that the government may disinvest shares in NTPC, Oil India, SAIL, NALCO, and Hind Copper to mop up about Rs.23,000 crore by the end of this financial year.
The Central trade Unions have to continue with its anti-disinvestment protest and the unions in each of these PSUs have to strongly resist the disinvestment move. Selling the nation’s assets to the MNCs and Corporates has to be resisted and stopped.
30 Friday Nov 2012
Posted in Neo-liberal policy
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As part of the government policy, NBCC and Hindustan copper Limited have been disinvested this year by 10% and 5.58% respectively. Government got Rs. 124.97 crore from the first and Rs.807.02 crore from the second, a total of Rs. 931.99 crore. This was stated by the finance Minister P.Chidambaram to a question in the Parliament.
This Government will disinvest and sell al the PSU, the assets of the nation, one after the other if the people are not vigilant.
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