STC employees take up cudgels against divestment

new delhi: employees of the state trading corporation on wednesday demanded an immediate halt to the disinvestment process of the company, describing it as arbitrary and unilateral. they also decided to stage an indefinite dharna from tomorrow at the company''s head office here. after a protest rally organised here, the employees said, in a memorandum presented to the prime minister, that the government''s decision to disinvest its stake in the company was against social and labour interests and it would put the jobs of around 1200 employees in a jeopardy. the government had put only one year job safety condition for the strategic buyers of psus disinvested so far, they said. after one year from the taking over of the new management, the company would be at the mercy of the buyer who would have the liberty to "play with the jobs of the employees," they added. stc''s was an ideal case to remain under government control as it was the flagship organisation that streamlined the pricing structure of essential commodities which were scarce and in short supply, causing immense hardship to the common man, they argued. "disinvestment seeks to nullify the prime role of stc to import essential goods, fully in consonance with the needs of the government." post-disinvestment future of the employees was a major concern, as the private buyer could compel them to leave their jobs and unlike banks and other government organisations, they did not even have pensionary benefits, they added.