The employees of Dredging Corporation of India, miniratna category-I PSU under Ministry of Shipping, staged a lunch-hour protest on Thursday at the administrative office in protest against revival of move to offload majority stake in the company. Union Minister of State for Shipping Mansukh Mandaviya during his visit to the city in March had promised that DCI would not be disinvested.
“We strongly condemn the move by the Ministry of Shipping to put up a note for the Union Cabinet to give its formal stamp of approval for strategic disinvestment in DCI,” honorary president of DCI Non-Executive Employees’ Union V.S. Padmanabha Raju said.
He told reporters that reduction in dredging tariff by Haldia and other ports and delay in refunding of ₹300 crore DCI had invested in Sethusamudram project had made the PSU with head office in the city under tremendous financial stress.
Established in 1976 DCI for the past 41 years has shown consistent profit and provided returns to the company in the form of dividend and taxes and it is among the highest service tax payers in Visakhapatnam.
