Tag Archives: PSUs

Now it is leasing of PSUs to private companies!

18 Monday Apr 2016

Posted by in General

≈ 1 Comment

Tags

, ,

one has to accept the fact that the NDA government is expert in ‘selling the family silver’ for a song! During the earlier NDA government, PSUs – VSNL, BALCO, ITDC Hotels etc. were privatised. The UPA government continued the process. After Modi government came, the business of disinvestment and privatisation have taken more aggressive.

The latest plan is to lease out the PSUs to the private companies! The details are being worked out by the government.

There is no doubt that this government is the ‘government of the corporates, by the corporates and for the corporates’.

 

Kerala – LDF strengthens PSUs, UDF destroys

08 Friday Apr 2016

Posted by in PSU

≈ 2 Comments

Tags

, , ,

The policies of LDF government led by  CPI(M) and  UDF Government led by the Congress in Kerala as far as PSUs are concerned is very clear to the people. While the election campaign is going on in Kerala, the differences in dealing of the PSUs by the two fronts are being discussed.

During the LDF government, all the state PSUs become profitable and improves their functioning with the full support of the government. But in UDF rule, the PSUs are strangulated and made loss-making. They are destroyed to help the private companies.

A look in to the profit and loss of the PSUs during LDF and UDF governments given below establishes the above truth. These statistics are published by the State Public Sector and Autonomous Bodies Officers Federation( SPATO).

UDF GOvt. (2001-2006)  – Average Loss Rs. 213.74 crore per year.

LDF Govt. (2006-2011)   – Average Profit Rs. 292.45 crore per year

UDF Govt. (2011-2016)  – Average Loss  Rs. 645.96 crore per year

LDF Government has to come to save the state PSUs.

 

Disinvestment of PSUs continue – Now it is NTPC

23 Tuesday Feb 2016

Posted by in General, PSU

≈ Leave a comment

Tags

, ,

The government has decided to further disinvest NTPC by 5%, with the idea of getting about Rs. 5,000 crores to reduce its deficit. 412.2 million shares are proposed to be sold at the rate of Rs. 122 per share. The share of the government in this prestigious and profitable PSU will be reduced from 74.96% to 69.96% after the sale.

The government has already sold shares of Oil India Limited, Container Corporation of India, NDMC, MMTC and ITDC in this fiscal garnering Rs.13,277 crore.

‘Disinvestment’ is a negative process and the word itself is negative. Hence the government and finance experts have started using another word for it, ‘Divestment’.   But whether the negativeness of disinvestment will go if the word is changed to divestment? NO!

Govt. Squeezes Profitable PSUs

08 Friday Jan 2016

Posted by in PSU

≈ Leave a comment

Tags

, ,

The central government has decided to ask the profitable PSUs to pay more dividends this year. It has told these PSUs to pay 30% dividend, instead of the usual 20%.

Whether UPA or NDA government, both of them want to squeeze the PSUs and make them loss making. But they will never help the PSUs in distress or loss.

The central government is the killer of the PSUs. It is only interested in the growth of the MNCs and private companies. Of course, it’s motto is “Business is not the business of the Government.” Expose this anti-people policy of the government.

Govt. plans to sell PSUs – HMT, Tungabhadra Steel Limited.

14 Saturday Nov 2015

Posted by in BSNL News, PSU

≈ Leave a comment

Tags

, , ,

The government seems to be in a move to sell the loss making HMT and Tungabhadra Steel Ltd. It is reported in the press that the government is proposing to sell profitable PSUs also after the loss making PSUs are sold.

It is well known that,in order to close or sell the PSUs, the government, the owner itself, takes measures that will make even profitable PSUs to loss making. Take the case of ITI, BSNL, MTNL etc. All of them have become loss making only due to the anti-PSU policy of the government, whether UPA or NDA. In destroying PSUs both of them are in the same camp. Only that NDA government is more aggressive in the matter.

Contract workers should not be more than 50% of regular employees – new proposal?

08 Tuesday Sep 2015

Posted by in BSNLCCWF - Casual and Contract workers, General

≈ 1 Comment

Tags

, ,

The great success of the 2nd September 2015 National One Day Strike participated by more than 15 crore workers on their 12 point demands, has made the government to think. The withdrawal of the BMS on dictate from the RSS, did not had much impact on the strike. Many BMS units have gone on strike, despite the decision of the leaders.

Now, it is reported that the government is thinking about reducing  the  engagement of contract workers. At present, in many PSUs as well as in private sector, contract workers are engaged much more than the regular employees, that too at far below the wages of the regular employees. This has created much tension and anger.

The government,it is stated, is thinking of limiting the contract workers at 50% of the regular workforce and pay them minimum wage. But the demand of the trade unions are that the contract workers should be regularised and till that time, they should be given equal wages – Equal wage for equal work. The proposal of the government will not solve the problem. Neither will it end the exploitation of the contract workers.

NTPC Chairman from Private Sector? – Part of Privatisation?

27 Thursday Aug 2015

Posted by in Neo-liberal policy, PSU

≈ Leave a comment

Tags

,

It is reported that the new Chairman of the Public Sector NTPC may be from the private sector. Some of the PSU Banks are also going to be imposed by private sector people. This is completely inappropriate and against the interests of the respective PSUs.

This anti-PSU policy is to be resisted and defeated.

BRPSE going to be dissolved? Government wants quick act?

07 Tuesday Apr 2015

Posted by in PSU

≈ 4 Comments

Tags

,

A news report states that the government is considering a proposal to dissolve the Board for Reconstruction of Public Sector Enterprises (BRPSE), according to Heavy Industries Minister Anant Geete.

“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. According to a government official, a cabinet proposal to shut down the BRPSE is being prepared.
The move is significant. It seems that the government does not want the systematic approach of declaring a PSU sick as at present. It wants for quick disposal of the PSUs and hence the new entity. The private lobby is putting pressure on the government to finish the PSUs and the Modi Government is on the job.

The government can easily make a profitable PSU into loss making as in the case of BSNL, then declare it sick and consequent privatisation or closure. The BRPSE may be being dissolved to quicken the process. Let us wait for the details

PSU land assets may be handed over to private companies

29 Monday Dec 2014

Posted by in Uncategorized

≈ Leave a comment

Tags

,

The NDA government is proposing to take over the surplus land of the Central PSUs and hand it over for manufacturing and infrastructure projects to the private companies.

It is estimated that there are about 2.5 lakhs acres of land with the central PSUs all over the country. Coal India Limited and Steel Authority of India with 7 lakh and 1.5 lakh acres respectively have the maximum land assets. BSNL has got 14,000 acres. But all these are not surplus and are being used by the PSUs. But there may be some surplus land. The government has called for the details of the land assets of the PSUs to find out how much is the land assets and how much is the surplus.

This is another step to destabilise the PSUs. The government may want to sell the surplus land, but even before any such policy is chalked out, it has started selling land. The Telegraph Place in Gole Market area, where the quarters are allotted to BSNLEU and also to R.III Union(NFPE) of Department of Posts,  has been sold to the Jharkhand Government, even without intimating the Department of Posts, BSNL or MTNL, all of who have got staff quarters there. Only because of the stay granted by the Delhi High Court, the place could not be taken over by the Jharkhand Government.

In such a situation, even the land assets being currently used by the PSUs may be taken away and sold by the government to please the corporates by selling these assets in the centre place of cities at cheap rates. The loss is for the PSUs and the government and the benefit is for the corporate and big business as also the ruling parties.

The Management of the PSUs and the Unions should take care to protest and safeguard the assets of the nation.  The people has got a right to know what is happening to their assets.

Selling of Family Silver – How much already sold.

22 Monday Dec 2014

Posted by in PSU

≈ Leave a comment

Tags

,

As per a report in the Business Line today, during the last 4 financial years the government has already sold shares of profitable PSUs worth Rs. 75,813 crores as shown below:

2010-11 : Rs. 22,144 crore

2011-12 : Rs. 13,894 crore

2012-13 : Rs. 23,956 crore

2013-14 : Rs. 15,819 crore

Total       : Rs. 75,813 crore

In this Financial year Rs. 1,700 crores worth share has already been sold and more are going to be sold.

Maximum profit and benefit are for the corporates and the rich who buy the shares and not the government or the people.