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CITU opposes move to allow 49 pc FDI in Air India

Press Trust of India  |  New Delhi 

The (CITU) today denounced the decision of the to allow 49 per cent (FDI) in Air India, and said it was aimed at expediting the privatisation of the national carrier.

"The (Narendra) had already decided to push for wholesale privatisation. And to expedite such privatisation move, the has now made this announcement of permitting 49 per cent

"Actually, this is nothing but complete foreignisation of the national carrier - a public sector company with its huge asset base and a high-earning international service network," said today.

He has said that the government is taking the plea of huge loss is being burdened with to justify its move, but the Centre is seeking to hide the fact that the carrier has been pushed to this situation not because of its management's failure but owing to "imposition of disastrous decisions on the company by successive governments at the Centre".

Among the "disastrous decisions", Sen listed the "hasty merger" of and and "forcible procurement" of a huge fleet of aircraft from foreign companies through direct purchase at an in-opportune time thereby imposing on the company an "unbearable burden of indebtedness leading to loss".

He also highlighted the fact that "despite such reckless and imprudent misadventure", Air India has struggled to come back to operating profit for last three years.

Regarding the decision of the government of allowing 100 per cent in single brand retail trade, the -- the trade union of the CPI(M) -- condemned the move and said that the decision would increase hardship of traditional retail market.

"Allowing 100 per cent in single will further increase the hardship of traditional retail trade sector which is the second biggest livelihood giver after agriculture and expedite the ruin of the traditional retail trade sector," Sen said.

The has called upon the working class to build up a determined resistance against "such deliberate exercise" towards degeneration of the national and people's livelihood both through sectoral and nationwide united struggle.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 15:40 IST