Eleven central trade unions, including Congress-backed INTUC, BJP-backed BMS and Left unions, on Monday extend their support to the workers of Neyveli Lignite Corporation (NLC), who have been on strike since July 3, opposing the Centre’s decision to divest an additional 5 per cent equity.
In a joint statement issued here on Monday, the unions flayed the Government for “repeatedly pushing divestment of equity of excellently performing (both physical and financial) Central Public Sector Enterprises (CPSEs) amounting to partial privatization…. even in strategic sector of energy (coal, electricity and oil & Natural gas).”
They said NLC was a ‘Navratna’ CPSE under the Ministry of Coal and had been exceeding the production performance targets in respect of exploration and mining of lignite and generation of power. In respect of financial performance, too, NLC had been “excelling” its previous records, they said, adding that in 2011-12, NLC paid Rs 1,116.53 crore as dividend, taxes and duties out of a net profit of Rs 1,411.33 crore.
The trade unions urged the Government to reverse the decision of divestment of equity in NLC in the interests of cordial industrial relations and to restore production.