The new financial year has started. So also the spree of selling the PSU shares! The latest is the proposed disinvestment of 5% shares of Rashtriya Chemicals and Fertilisers (RCF), 10% of National Fertilisers Limited (NFL), 10% in NMDC, 10% in HUDCO and 10% in Oil India. The government has already sold 11.36% shares NHPC a few days back.
If this trend goes, within a few years, the control of all PSUs will be in the hands of the private corporates. Mighty united struggles by the working class are required to save the PSUs. The Central Trade Unions in their strike decision for 2nd September 2016 have included ‘No Disinvestment of PSUs’ as one of the main demands.
The government should be compelled retract from these anti-PSU decisions.