Ten MPs of Jharkhand have written to Prime Minister Narendra Modi seeking his intervention on the Union Heavy Industries Ministry's move to privatise the Heavy Engineering Corporation (HEC), one of the oldest such in the government sector that was established in 1958.
"HEC is one of the biggest PSU of the Asia. Thousands of farmers had given land for HEC. There is conspiracy to privatise the HEC. The privatisation will create unemployment," says the letter to the 10 MPs to Prime Minister.
The MPs -- all belonging to Bharatiya Janata Party (BJP) -- opposing privatisation, have also demanded modernisation of the HEC.
According to Ramtahal Chaudhary, the MP from Ranchi, he handed the letter to the Prime Minister's Office by him. He said on Friday they (MPs) would also meet Anant Geete, the Heavy Industries Minister.
The company had registered profit for three successive years from 2005.
According to Jharkhand MPs, the proposal of privatisation of HEC is likely to be taken in the next cabinet meeting.
The trade union and political parties of Jharkhand have also opposed the privatisation move.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)