Trade unions tells govt to stop further stake sale in CIL

Last Updated: Monday, August 12, 2013 - 15:14

New Delhi: Five trade unions have told the government that if the issue of further disinvestment in Coal India is not resolved they might resort to industrial action, including stoppage of production, Minister of State for Coal Pratik Prakashbapu Patil said on Monday.

"Five central trade unions (CTUs)...Have given notice ... to the Honourable Minister of Coal to stop further 10 per cent disinvestment in CIL," Patil said in a written reply to the Rajya Sabha.

"In the aforementioned notice it is mentioned that if the issue of further 10 percent disinvestment is not resolved, along with other demands, the coal workers/five CTUs shall be constrained to resort to industrial action, including stoppage of coal dispatch/production," the minister said.

Five central trade unions operating in Coal India and its subsidiaries are Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), Bharatiya Mazdoor Sangh (BMS), Hind Mazdoor Sabha (HMS) and Centre of Union Trade Unions (CITU), Patil said.

He further said that the minister had three meetings with the trade unions in July to arrive at a consensus on the issue of disinvestment as well as to resolve other demands to avoid any agitation programme.

The government, which originally planned to sell a 10 percent in Coal India, had halved it to 5 percent later in a bid to placate trade unions.

Coal Minister Sriprakash Jaiswal had earlier said that three of the five major trade unions had given their consent to proceed with the 5 per cent stake sale to garner Rs 10,000 crore.

The government holds a 90 per cent 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.


First Published: Monday, August 12, 2013 - 15:12

More from zeenews

comments powered by Disqus