Tag Archives: Merger

BSNL and its Workers face multiple challenges

13 Thursday Feb 2014

Posted by in BSNLEU

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The decisions of the EGoM on Revival of BSNL, the proposal for Merger of BSNL and  MTNL, formation of subsidiary companies from BSNL for land assets and towers etc. are new challenges for BSNL and its two and half lakh workers. The UPA government in its last phase is taking decisions one after another, probably thinking that it will not get another chance after the election for taking these policy decisions which are in tune with the anti-worker  neo-liberal policies which it has been continuing for the last many years.

The Unions/Associations in BSNL and have to seriously think about the situation and take suitable decisions to ensure that the interest of BSNL and its workers are safeguarded in addition to the interests of the Nation. The Forum of BSNL Unions / Associations will meet urgently to discuss these issues and take appropriate decisions.

BSNL-MTNL Merger

07 Friday Feb 2014

Posted by in BSNL - Better Service to the Nation, BSNL News, BSNLEU

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It is reported that DOT has appointed a Committee to examine the Merger issue of BSNL and MTNL. Unions in BSNL and MTNL have been asked to intimate their opinions within 3 days.

This is a very complex issue and requires discussion by the unions internally and jointly by the unions and hence sufficient time is required.

The Forum of BSNL Unions/Associations will be meeting immediately after Com. V.A.N.Namboodiri, Convener, returns to Delhi after attending the International Conference of Pensioners and Retirees being held at Barcelona, Spain. In the meantime the CEC Meeting of the BSNLEU is taking place at Rajkot on 7-9 February.

Withdrawal from NPS may be allowed.

15 Thursday Aug 2013

Posted by in PSU

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The Pension Fund Regulatory and Development Authority (PFRDA) is thinking in terms of allowing partial withdrawal to the subscriber from the National Pension Scheme (NPS), even before maturity. At present as per the PFRDA Ordinance, no withdrawal is allowed before maturity ie. before reaching the age of 60 years. The Parliamentary Standing Committee had earlier recommended that withdrawal should be allowed even before maturity. The NPS is reported to have about 53 lakh subscribers and a corpus of about Rs. 35,000 crore.

While the PFRDA under the Ministry of Finance is for shifting the subscribers of EPFO to the NPS, the Labour Ministry which operates the EPF is against the same. However, the Finance Ministry headed by P.Chidambaram is putting pressure, so that EPF corpus of lakhs of crores of rupees can be made available to the Fund Managers of NPS to be utilised for business purposes. The argument of the PFRDA is that while there is assured returns for EPF subscribers, the returns from the NPS is more. This is only a fallacy. The returns from NPS is volatile and it can be reduced also. It depends upon the market. The hard earned savings of the workers can not be put at the mercy of the corporates and the business sharks. Though the present Fund Managers are mainly PSUs like LIC and SBI, there is every chance that the private insurers, Mutual Funds etc. may gain access in future to the Fund. Then it will, no doubt be, a disaster. Hence the workers are completely against putting the Funds of EPF at NPS. This proposal is not acceptable to the workers. It has got to be resisted and defeated.