People's Democracy

Stop The BSNL IPO

M K Pandhe, president, CITU, has written a letter to M Karunanidhi, chief minister of Tamilnadu, requesting his intervention on proposed disinvestment of 10 per cent equity holding in BSNL by government of India and to list these shares in the share market.

In a meeting held by A Raja, minister for Communications, government of India with the BSNL Employees Union on August 7, 2008 on this subject, the union resolutely opposed the proposal despite the government offering shares to workers.

It was a principled stand of the union not to allow the disinvestment of profit making public sector undertakings. The minister respected the views expressed by the workers� representatives but it appears that the union ministry of Finance is determined to go ahead with the proposal.

Pandhe requested Karunanidhi to take a stand similar to the one on Neyveli Lignite Corporation on the question of disinvestment of Bharat Sanchar Nigam Ltd., by taking up the matter with the government of India so that BSNL remains a proud public sector undertaking and hoped that the
opinions expressed by the workers of BSNL on government of India�s efforts to go ahead with BSNL IPO are taken into account so that the plan is nipped in the bud in time.