Coal news and updates

The government’s move to divest 10 per cent shares in Maharatna public sector Coal India Ltd is set to face stiff opposition from the central trade unions, which are planning to launch their protest using the platform of a three-day work-to-rule programme from September 18.

 

On September 2, five coal sector unions affiliated to the central trade unions served a notice to the Chief Labour Commissioner, for observing a three day work-to-rule programme from September 18 to 20 in the mines and establishments of CIL to press for their various demands.

 

It has now been decided that the unions will meet in Ranchi in Jharkhand on September 21 to finalise their future course of action. “We see this as a backdoor privatisation and the proposed move is provocation enough for a strike action”, Jibon Roy, the general secretary of the CITU affiliated All India Coal Workers Federation told The Hindu.

 

It may be mentioned here that the trade unions had opposed the initial public offer of CIL in November 2010 when the government divested 10 per cent of its equity holding in the Maharatna public sector unit, raising a record sum of around Rs 23,000 crores. The TUs put a stiff resistance last year too, when the government planned another dose of divestment in December 2013.

 

The ensuing elections then and the conditions of the capital market are believed to have influenced the government of the day, to shelve that plan. This time, the Centre has proposed a 10 per cent divestment in CIL along with divestment in ONGC and NHPC.

 

 

Source: http://www.thehindu.com/