BSNL workers to oppose disinvestment

Last Updated: Monday, July 20, 2009 - 21:04

New Delhi: Workers of telecom major BSNL today said they would observe "Anti-Disinvestment Day" on July
22 against the government`s proposal to sell its shareholding
in the company.

The proposal (to disinvest) is in violation of the
assurances given earlier by the Communications Minister and
the government that BSNL would not be disinvested or

The call to protest comes a day before Telecom Minister A
Raja`s announcement to hold a review meeting of the PSU in
view of the drastic fall in its net profit to Rs 104 crore in
2008-09 compared to Rs 3,000 crore a year ago.

The minister is also likely to discuss the disinvestment
plans with the top management tomorrow, sources said. The BSNL
board has already approved the resolution towards this end.

"The plea of the management that IPO is necessary to mop
up funds for development and expansion is far away from the
truth, as the BSNL has more than Rs 37,000 crore slashed up in
banks. It can be used for expansion instead of selling
shares," V A N Namboodiri, Convenor, Joint Forum of BSNL
Associations, said in a statement.

Joint Forum of BSNL Employees Association/Unions of
Executives and Non-executives has said that they would sending
telegrams to Prime Minister Manmohan SIngh and Telecom
Minister demanding dropping IPO and disinvestment proposal,
the statement said.

The BSNL Board has approved resolution towards this end.

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First Published: Monday, July 20, 2009 - 21:04

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