Central Trade Unions denounce Decision of the CCEA to Privatise CPSUs

Central Trade Unions express their strong protest and utter annoyance at the disastrous decisions of the Government of the day to Privatise excellently run cash rich CPSUs. Paths pronounced are out right Privatisation, partial but effective privatisation by divesting up to 76 per cent of the Government Equity of the concern CPSUs. According to the decision, BPCL, CONCOR and Shipping Corporation will be sold out to private companies. Further, NTPC is being directed by the Government to buy out NEEPCO and THDC.

Apart from the above CPSUs, the other targets of privatisation onslaught are, reportedly, Indian Oil (current government stake 51.5 per cent), NTPC (54.50 per cent), Bharat Electronics (58.83 per cent), BEML (54.03 per cent), Engineers India (52 per cent), GAIL (52.66 per cent) and National Aluminium Co (52 per cent).

The Central Trade Unions note with indignation that the recent economic ‘bailout packages’ presented by the Government mainly to benefit the big business houses shall cost the Exchequer of the country a huge amount of Rs.1.45 lakh crore. More such packages are under consideration of the Government. Now to make good the revenue loss, the Government has resorted to selling out CPSUs with huge physical and financial assets. Shockingly the Government is turning blind eye to the fact that privatization of CPSUs is bound to inflict revenue loss on account of loss of huge amount of taxes, duties and dividend payment by these CPSUs.

The Central Trade Unions urge upon the Government to reverse the decision of Privatisation of CPSUs. The Central Trade Unions extend full support to the decision of the BPCL Workers to launch one day token strike on 28th November, 2019. They have been conducting various campaign, propaganda and agitation activities to make the strike a grand success.

The Central Trade Unions appeal to the all CPSU workers irrespective of affiliation to organise protest action against the above mentioned shocking decision of the Government. Given the aggressive desperation of the Government to eliminate public sector from the economic map of India, it is felt that the need of the hour is to urgently activate the United Platform of CPSU Worker to chalk out appropriate Nationwide long-drawn struggles. 

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