VSP unions to form JAC against disinvestment

September 07, 2011 11:26 am | Updated 11:26 am IST - VISAKHAPATNAM:

All major trade unions of Visakhapatnam Steel Plant have decided to set up a joint action committee (JAC) to launch an agitation against disinvestment of Rashtriya Ispat Nigam Limited.

Union leaders D. Adinarayana (AITUC), Mantri Rajasekhar (INTUC), V. Dhanaraju and N. Rama Rao (CITU), Rama Raju (BMS), Sadhu Reddy (HMS), B. Paydiraju (TNTUC) and others attended. They decided to serve a strike notice for one-day after holding demonstrations at the two main gates of the VSP on September 8 – the day the Centre will study the presentations made by merchant bankers for 10 per cent disinvestment of the government's shares.

The unions would also fax representations to the Union Ministers, Chief Minister, and others to drop the disinvestment plan, Visakha Steel Workers' Union president D. Adinarayana said.

During the meeting with union leaders here on Monday, the top management of the company said the Centre had taken a policy decision to divest of the equity up to 10 per cent to raise the value of the shares.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.