Nalco workers plan to give govt hard time
Aluminium production at public sector Nalco's plant at Angul in Orissa came to a halt on Friday, as employees struck work demanding that the Centre drop a decision to sell 10 per cent stake in the company or else be prepared to face a hard time.
By PTI |
BHUBANESWAR: Aluminium production at public sector Nalco's plant at Angul in Orissa came to a halt on Friday, as employees struck work demanding that the Centre drop a decision to sell 10 per cent stake in the company or else be prepared to face a hard time.
"The token strike is a warning to the government to go back on its decision. If the government does not relent, it will lead to a long drawn confrontation," Nalco Employees Federation of India president Shivaji Patnaik said.
"Aluminum production from the (950 tonne per day) smelter plant has stopped. We have made temporary arrangements to keep the potline alive," Nalco's Executive Director U B Patnaik told media.
The strike by workers followed the Union Cabinet's decision on Thursdayto divest 10 per cent of its stake in the aluminium major.
While Orissa Chief Minister Naveen Patnaik, on Thursday, asked the government to think twice before selling its stake, CPI-M leader Sitaram Yechury said the Left parties would meet in New Delhi soon to devise a plan to counter the government's decision.
"The decision would be forcing the company to further disinvest if it wants to expand. If it is further disinvested, the government will lose its control over the entity," he warned.
This, he alleged, was what "the government exactly wanted. They are forcing the PSUs which are disinvested to further disinvest."
Leaders of different unions, in a joint release here, opposed the disinvestment move saying there was no need for it in the PSU.
"While the government aimed to get Rs 1,400 crore by divesting ten per cent of the company's stake, Nalco earned a profit of Rs 1,565 crore alone during the last fiscal," they said.
The NDA government had divested 13 per cent stake in the company. Even if the proposed 10 per cent divestment takes place, government's holding in Nalco would be 77.15 per cent.
The Centre on Thursday announced that 10 per cent stake each in Nalco and Neyveli Lignite Corporation would be divested to raise Rs 2500 crore and that the decision had been taken as per the consensus reached with the Left parties in November.
"The token strike is a warning to the government to go back on its decision. If the government does not relent, it will lead to a long drawn confrontation," Nalco Employees Federation of India president Shivaji Patnaik said.
"Aluminum production from the (950 tonne per day) smelter plant has stopped. We have made temporary arrangements to keep the potline alive," Nalco's Executive Director U B Patnaik told media.
The strike by workers followed the Union Cabinet's decision on Thursdayto divest 10 per cent of its stake in the aluminium major.
While Orissa Chief Minister Naveen Patnaik, on Thursday, asked the government to think twice before selling its stake, CPI-M leader Sitaram Yechury said the Left parties would meet in New Delhi soon to devise a plan to counter the government's decision.
"The decision would be forcing the company to further disinvest if it wants to expand. If it is further disinvested, the government will lose its control over the entity," he warned.
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This, he alleged, was what "the government exactly wanted. They are forcing the PSUs which are disinvested to further disinvest."
Leaders of different unions, in a joint release here, opposed the disinvestment move saying there was no need for it in the PSU.
"While the government aimed to get Rs 1,400 crore by divesting ten per cent of the company's stake, Nalco earned a profit of Rs 1,565 crore alone during the last fiscal," they said.
The NDA government had divested 13 per cent stake in the company. Even if the proposed 10 per cent divestment takes place, government's holding in Nalco would be 77.15 per cent.
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The Centre on Thursday announced that 10 per cent stake each in Nalco and Neyveli Lignite Corporation would be divested to raise Rs 2500 crore and that the decision had been taken as per the consensus reached with the Left parties in November.
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