Patnaik to take up Nalco disinvestment issue with Centre

Odisha Chief Minister Naveen Patnaik today assured a delegation of Nalco employees to take up the matter relating to the Navratna company's disinvestment with the Centre.
"The chief minister has told the employees that he will take up the issue related to Nalco's disinvestment with the Centre," an official release issued by the chief minister's office said.
Earlier, a delegation of Nalco employees, who have been agitating against the Centre's decision to disinvest 9.1 per cent of government share from the Navratna company, met Patnaik at the state secretariat.
While thanking Patnaik for allocating the Potangi mines in favour of Nalco, the employees said disinvestment of Nalco is not in the interest of the state as well as its employees.

Meanwhile, different trade unions and employees' associations under the banner of the NALCO Coordination Committee have opposed the Centre's decision.
The Centre has put its stakes on sale for both institutional buyers and retail investors to meet its target of Rs 72,500 crore disinvestment plan for the 2017-18 fiscal. It expects to raise Rs 1,300 crore out of Nalco stake sale, the agitating employees said.
The members of the Coordination Committee are now protesting against the stake sale move at the Smelter and CPP Plant, Angul arguing that the company will be financially weakened following disinvestment and will open scope for privatisation.