Coal India union serves notice for 3-day strike from Sept 19
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Coal India union serves notice for 3-day strike from Sept 19

Last Updated: Wednesday, August 07, 2013, 17:56
 
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Coal India union serves notice for 3-day strike from Sept 19
New Delhi: Opposing the government's disinvestment proposal in Coal India, one of the leading trade unions Wednesday served notice to the company for a three-day strike starting on September 19.

"The All India Coal Workers Federation (AICWF) has served this forenoon of August 7, 2013, the notice before the Coal India management announcing its resolve for going on three days' strike in coal industry against the government decision for divesting Coal India's stake," it said in a statement.

The strike will start from the first shift of September 19 and will continue until the end of the third shift of September 21, the union said.

The government, which originally planned to sell a 10 percent in Coal India (CIL), had halved it to 5 percent later in a bid to placate trade unions. Coal Minister Sriprakash Jaiswal had said last week that three of the five major trade unions had given their consent to proceed with the 5 percent stake sale to garner Rs 10,000 crore.

However, trade union body Indian National Mineworkers' Federation said the five unions which had a meeting on the issue with the Coal Minister had decided to reserve their response till remaining demands are considered by the government.

Coal India workers are represented by five trade unions ? INTUC, HMS, BMS, AICWF and AITUC.

"All the five national federations functioning in the coal industry have reached unanimity...On opposition to disinvestment and for asserting its position through a strike," according to the AICWF statement.

On August 5, INTUC Secretary General S Q Zama had said the five unions would meet after August 15 to devise the future strategy.

According to industry analysts, a single day's strike may result in CIL losing more than 1 million tonnes of production. The company's output in 2012-13 was 452.21 million tonnes.

The government holds a 90 percent stake in CIL. The company was listed on the bourses in 2010 after the government raised Rs 15,199 crore by selling a 10 percent stake in the country's biggest initial public offering.

CIL accounts for over 80 percent of domestic coal production and has a cash balance of about Rs 60,000 crore.

CIL shares gained 1.86 percent to Rs 262.75 at the close on the BSE.

PTI


First Published: Wednesday, August 07, 2013, 17:56


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