Tag Archives: PSU

Air India have reduced its losses

11 Friday Dec 2015

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Air India’s losses have come down more than 22% during the last 4 years. Civil Aviation Minister Ashok Gajapathi Raju told the Parliament on 10th December 2015 that operating loss has been reduced considerably. The total revenue has increased to Rs. 20,606.27 crore in 2014-15 from the earlier revenue of rs. 14,713.81 rore in 2011-22 having an increase of 40.1%. (Courtesy: Business Line)

This is a good information that Air India is coming up financially. BSNL, another PSU, has also started improving financially from the present losses.

BRPSE on the way out?

17 Tuesday Nov 2015

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The government is considering a proposal to dissolve the Board for Reconstruction of Public Sector Enterprises (BRPSE), Heavy Industries Minister Anant Geete said on Tuesday.

“We are in discussions to create a new entity for sick PSUs,” he said on the sidelines of a Confederation of Indian Industry (CII) function. (Courtesy: ET)

NTPC pays Rs. 1,545.15 crore Dividend to government

30 Wednesday Sep 2015

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NTPC, power PSU, paid a  dividend of Rs 1,545.15 crore to the government for the financial year 2014-15.
This is the 22nd consecutive year that NTPC has paid dividend.

Hearty Congratulations to PSU NTPC and the workers for their best performance!

There should be no discrimination between the upgradation of cities for grant of HRA between Government and PSU

25 Tuesday Aug 2015

Posted by in BSNLCCWF - Casual and Contract workers, BSNLEU, CG Employees, General

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The government has recently issued orders upgrading the cities as per the 2011 census report as also on other grounds including urban agglomeration and granted HRA accordingly. BSNL and other central PSU employees are deprived of the same, since the criterion for the PSUs based on population only and not all the criterias as eligible for CG Employees. This is a gross discrimination. For example in the recent orders, Ahmedabad and Pune are upgraded as “X” class Cities (former “A” class ), while this status is denied for the BSNL employees for grant of HRA. In the same way there are many cities upgraded to “Y” class( former “B” class)  for CG employees, while not for the BSNL employees.

This discrimination should end. The government should declare all these upgraded cities are applicable for increased HRA for BSNL employees also as in the case of CG Employees.  The wages of the contract workers also should be increased on the same basis in these upgraded cities.

 

All India Co-Ordination Committee of PSUs calls for complete Strike on 2nd September 2015

22 Monday Jun 2015

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The meeting of the All India Co-Ordination Committee of Public Sector Trade Unions (CITU), held at Hyderabad on 22nd June 2015 has called upon the entire PSU workers, including contract workers, to organise and make the One Day Strike called by the Central Trade Unions a big success.

The meeting was held at Com. Sunderayya Vignan Kendra, at Hyderabad. !52 delegates from 46 unions participated. From BSNLEU and BSNL Casual and Contract Workers Federation, Coms. V.A.N.Namboodiri, Swapan Chakraborty, J.Sampath Rao, Mohan Redyy, Taranath and Paripoornachari participated.

Meeting was presided by Com. Vishnu Mohanty, CITU Vice-President. Com. Tapan Sen, General secretary, CITU, inaugurated the convention. Com. Swadesh Dev Roy, Convener, Co-Ordination Committee, presented the report and reported the latest developments. More than 25 comrades participated in the discussion. Com. V.A.N.Namboodiri and Com. Swapan Chakraborty addressed on behalf of BSNLCCWF and BSNLEU respectively.

The Convention unanimously decided to make massive campaign amongst the workers about the anti-worker policies of the government. The policy of the government to close or privatise all the PSUs has to be resisted and defeated. The exploitation of the casual and contract workers have to be opposed and justice meted out to them. The immediate task is to campaign to make the strike a complete success. State level conventions should be organised. Without struggle, negotiations will not be successful. The report presented by the Convener was unanimously adopted. It was also suggested that a meeting of the CPSTU be held in preparation of the strike.

The meeting of the Co-ordination Committee and the discussions and decisions have enthused the delegates. All are determined to make the strike a big success.

 

Nepal Earth Quake – Air Force, BSNL, Air India to rescue

25 Saturday Apr 2015

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Whenever there is any natural calamity, it is the government and PSUs which come to the rescue immediately. It has been in the past and it is in the present also.

In view of the earth quake, BSNL has declared that only local call charges will be levied to calls to Nepal, which is international. Air India has decided to fly additional flights to help rescue operations. Indian Air Force is in the front of the rescue operations.

We support these appropriate decisions. Human life is most valuable.

Central Budget – Govt. propose to raise Rs.69,500 crores through Disinvestment and Privatisation of PSUs

28 Saturday Feb 2015

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New Delhi, Feb 28 The government today proposed raising Rs 69,500 crore from disinvestment and strategic sale in state-owned companies.

Of  the total budgeted proceeds, Rs 41,000 crore is estimated to come from minority stake sale in PSUs, and the remaining Rs 28,500 crore is projected to come from strategic sale in both profit and loss-making companies.

As regards disinvestment in the current year, the government is expected to mop up only Rs 31,350 crore as against the budget target of Rs 63,425 crore.

The revised estimates have pegged the disinvestment receipts from minority stake sale in PSUs at Rs 26,353 crore, as against the target of Rs 43,425 crore.

In addition, Rs 5,000 crore will be raised from PSU Exchange Traded Fund (ETF).

“We have an elaborate disinvestment roadmap in front of us. As far as strategic sales are concerned, certainly we are not averse to the idea. Wherever we find the possibility existing, we will certainly consider it,” Finance Minister Arun Jaitley told reporters here.

The government has raised about Rs 24,500 crore through disinvestment in SAIL and Coal India in the current fiscal. It expects to raise Rs 6,850 crore in the remaining one month of the fiscal ending March.

Five per cent stake sale in REC and PFC are on cards in current fiscal.

The disinvestment department has lined up a host of companies including 5 per cent in ONGC, Dredging Corp, and Bharat Heavy Electricals (BHEL).

Besides, 10 per cent each in Indian Oil Corporation, National Aluminium Company (NALCO) and NMDC are also being planned.

It is also planning to list RINL and Hindustan Aeronautics through a 10 per cent stake dilution. (PTI)

 

India belongs to the people not to the Government – PM

03 Friday Oct 2014

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Prime Minister Narendra Modi in his radio broadcast today is reported to have stated that India belongs to the people and not to the government.

We completely agree with the statement of the Prime Minister. Only one question. If the country belongs to the people, then why the PSUs, which are also part of the country is being handed over to the corporates and private bigwigs for meagre sums, against the strong opposition of the Unions and the people.

Massive Disinvestment programme by NDA Government.

18 Friday Jul 2014

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Union Finance minister Arun Jaitley is fast moving with proposals for massive disinvestment of Central PSUs. it is proposed to sell the shares of ONGC, SAIL, Coal India Ltd.,HAL, Power Finance Corporation, National Hydro-electric Power Corporation, Rashtriya Ispat Nigam Ltd. etc. The Finance Ministry expects to get Rs. 43,000 crores.
This government continues the same policy of destroying the PSUs.

35 PSUs working without CMD/MD/Chairman

08 Tuesday Jul 2014

Posted by in BSNL - Better Service to the Nation, PSU, Telecom

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There are 35 PSUs including BSNL, MTNL,NHPC,Coal India which are having no CMD/MD/Chairman at present. This was stated in the Parliament on 7th July by Minister of State for Heavy Industries and Public Enterprises Shri P.Radhakrishnan. In some cases the posts are vacant for months together. IN BSNL and MTNL after the retirement of the CMDs, no body has been posted and it is additional charge for the Directors. Either these delays are purposeful to deny governance of the PSUs or to appoint officers of the choice of the political parties.
We demand that these posts be filled up without any further delay for effective functioning of the PSUs.