CITU Opposes NALCO Disinvestment Proposal

IN a statement issued from New Delhi on June 4, the Centre of Indian Trade Unions (CITU) noted with a sense of shock that even before the protest against 10 per cent disinvestment of Bharat Heavy Electricals Limited (BHEL) had died down, the government had proposed 20 per cent disinvestment in the National Aluminium Company (NALCO), another extremely well run, highly profit making basic industry.

The statement of the ministry of mines and NALCO management clearly showed that, without any consultation, the finance ministry was taking over enthusiastically, proactive interest in disinvestment of profit making public sector undertakings (PSUs) which is not at all an agenda in the National Common Minimum Programme (NCMP). Paradoxically, the revival of sick PSUs, which is one of the UPA government’s tasks in the NCMP, is being ignored because of lack of initiative and negative approach by the finance ministry.

The CITU strongly felt that as disinvestment has been officially delinked from the budgetary exercise, the finance ministry should recluse itself from such exercises which come under the domain of the concerned ministry and the PSUs. The CITU urged upon the minister of mines to adhere to his stand of non-disinvestment of the NALCO. The CITU expressed confidence that, Even if the minister relented, the NALCO employees and people of Orissa who had foiled the NDA government’s attempt at NALCO privatisation, would give a fitting reply to the process of creeping privatisation by the UPA government as well. (INN)