The IDA has been increased from 117.1% to 119%, an increase of 1.9% w.e.f. 1st July 2017. Orders are expected shortly.
New Delhi, June 30: The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:
No Privatisation of Air India
The Polit Bureau of the Communist Party of India (Marxist) strongly opposes the decision of the Modi government to privatise the national carrier, Air India. The Union Cabinet has accepted the recommendations of the Niti Ayog and given an in-principle agreement for the disinvestment of Air India and its five subsidiaries.
This decision has been taken at a time when, after prolonged losses since 2008, the airline has started achieving operating profits of Rs. 105 crore for the year 2015-16 and an estimated operating profit of around Rs. 300 crore in 2016-17.
Air India was crippled and burdened with debt due to monumental miscalculation and certain wrong decisions taken by successive governments at the Centre. It is now being made the scapegoat and sought to be privatized.
The privatization of Air India is being made with a bonanza to the perspective private buyer – the write off of the Rs. 30,000 crore debt burden. The privatization of Air India is not for saving public money but for handing over national assets for a song and defrauding the exchequer for the benefit of private companies, both domestic and foreign.
The sale of Air India is part of the overall privatization drive of the Modi government which is against national interest. It must be stopped forthwith.
The Central government’s move to privatise the HLL (Life Care ) Ltd. (former Hindustan Latex Ltd.) is ill-advised and against the interests of the country. This is the PSU which manufactures contraceptives and which has been effectively used for the last many years. The company is profitable. Thousands of workers are employed there.
In its eagerness to satisfy the greed of the private corporates, this well running profitable PSU is being sold to the private. The workers and their unions have strongly opposed privatisation. Kerala M.P.s have written to the Prime Minister demanding to keep the company as PSU.
The Central Government should drop the anti-people, anti-PSU move.
The earlier plea of the government that the only the loss making PSUs are being sold, is now abandoned. Whether the PSU is profitable or not, it is going to be sold today or tomorrow. The design of the government is very clear that all the PSUs, along with their land, will be handed over to the private corporates. There is no difference whether they are connected with the security of the nation, whether they are public services or in any most important sector.
The latest information is that the profitable Hindustan Latex ( HLL Lifecare Limited ), a Mini Ratna company, is being sold with 100% disinvestment. It has a net revenue of 1,127 crores and profit of Rs. 31 crore in 2015-16. This PSU has been profitable for continuously and situated in Kerala.
So far AI meant Air India. But now the ‘AI’ is more and more being used for Artificial Intelligence.
Government wants to eliminate Air India by closure or by strategic sale. Then, only one AI will be there – Artificial Intelligence, which means more and more robots and robotics, mainly benefitting the corporates, rich and powerful, thus reducing the workforce.
However, the Air India workers and the people will not allow the major PSU, Air India, to be privatised. There is going to be sustained struggles, that I am sure.
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!
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.
The profit making PSU, Bharat Earth Movers Limited (BEML) is in the process of being strategically sold. It is reported that this PSU which has got assets to the tune of Rs. 56,000 crore and has always posted profit is being strategically sold for only Rs. 1,000 crores to Reliance. The assets of the nation is being gifted to the Reliance on a silver plate. About 70 such PSUs, including BSNL and MTNL are proposed to be sold as per the recommendation of NITI Ayog.
Mighty struggle against the government’s anti-worker, anti-national policy is the need of the hour.
Disinvestment (sale of shares) of valued Public Sector Units seems to be the most important work of the Modi government. The latest is the move of the government to disinvest PSU shares targetting about Rs. 72,500 crores, much more than the last year. NITI AYOG had recommended closure or strategic sale of about 70 PSUs.
There should be an end to the cheap sale of the ‘Family Silver’. These PSUs have served the nation in a big way and they can still help the nation for progress.
The meeting of the PLI Committee of BSNL is meeting today. Due to huge loss, the BSNL employees were not paid Bonus for the last few years.
Now that BSNL has improved and has posted operational profit both in 2014-15 and 2015-16, it is a must that PLI (Bonus) should be paid to its employees. Of course, PLI is not based on profit, but on productivity. Productivity has also increased very much. The Management offered Rs. 1,100 in the last meeting of the Committee, which the unions did not accept. Since the Central Government has already fixed the minimum bonus as Rs. 7,000, the BSNL employees also should be paid at least Rs. 7,000 as PLI (Bonus). It is hoped that the Staff Side participating in the deliberations will be able to clinch the issue with the Minimum Bonus of Rs.7,000. The BSNL Management should agree to the fully justified demand of the Staff Side.