People's Democracy

 CITU Demands Halt To IOC Privatisation Move

THROUGH a statement issued from New Delhi on October 4, the secretariat of the Centre of India Trade Unions (CITU) condemned the BJP led government’s move to privatise the Indian Oil Corporation (IOC). The statement said that, having failed to privatise the HPCL and BPCL, thanks to the Supreme Court judgement restraining the government from privatisation of these oil PSUs without prior approval of parliament, the cabinet committee on disinvestment (CCD) has decided to split and privatise the IOC.

It will be recalled that the trade unions have already expressed apprehension over the attack on IOC, at the all-India convention of the oil trade unions held in Delhi on September 28, 2003. The convention’s declaration had then warned that the privatisation onslaught would be extended to other oil PSUs like the ONGC, IOC etc, and had urged upon all oil workers to unite under the banner of National United Forum, irrespective of their affiliations, and prepare for bitter struggles.

The IOC, the only Indian company among the Fortune 500 companies, is also the 17th largest petroleum company in the world. The IOC’s share in refining and marketing capacity in the country is 42 per cent and 55 per cent respectively. This public sector oil giant contributed Rs 33,007 crore to the national exchequer in fiscal 2002-03.

The CITU has recorded its vehement opposition to the move to privatise the IOC, strongly condemned the government for the anti-national decision, and emphatically demanded the reversal of the suicidal decision and complete halt to the move to privatise the IOC. The CITU statement expressed its firm view that the decision demonstrates abject surrender of the BJP led government to the ill will harboured by the big business in the country and foreign oil multinationals that this cash rich and excellently run blue chip oil public sector undertaking (PSU) be handed them over.

The CITU further appealed to the trade union movement, particularly in the oil PSUs, to intensify the ongoing move against privatisation and take immediate steps for effective implementation of the decision of the September 28 Delhi Convention to “launch militant struggles including strike.” (INN)