Neyveli Lignite workers oppose Centre's move to sell 10% equity
Press Trust of India / Cuddalore Jul 04, 2009, 15:59 IST
Workers in Neyveli Lignite Corporation (NLC) staged one-day hunger fast today, opposing Centre's move to sell 10 per cent of the company's equity.
A large number of DMK trade union workers, staging hunger strike near first thermal power station at NLC, urged Centre to withdraw its move to sell its equities.
Meanwhile, A R Ansari Chairman cum Managing Director of NLC told PTI that NLC, being a 'mini ratna' public sector enterprise, it could not take decisions to sell its equities.
Selling of equity of public sector undertakings was a policy issue of Government of India. NLC management had no powers to take decisions to sell its equities, he added.
Few years back 6.5 per cent of NLC shares were sold by the Centre.
The Government must sell its stake in the company inspite the opposition from the employees. The company has been built using tax payer money & hence belongs to the people of India & the people of India have very right to own the company. What right do the employees have to oppose its stake sale? PSU babus should be bluntly told divestment in PSUs is the right way for the economy.
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