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Updated: July 8, 2013 01:48 IST

NLC issue: Centre asks Tamil Nadu to send officer

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One of lignite mines working at full capacity at the Neyveli Lignite Corporation in Neyveli on Saturday. Photo: T. Singaravelou
The Hindu One of lignite mines working at full capacity at the Neyveli Lignite Corporation in Neyveli on Saturday. Photo: T. Singaravelou

Disinvestment Department requests State to nominate a senior official to discuss terms

Responding favourably to Tamil Nadu Chief Minister Jayalalithaa’s offer to buy 5 per cent equity in Neyveli Lignite Corporation (NLC), the Union government’s Disinvestment Department has written to the State to depute an officer to discuss the modalities for the proposed sale.

A communication to this effect was sent to Chief Secretary Sheela Balakrishnan, according to Ravi Mathur, Secretary of the Department of Disinvestment, which comes under the Union Finance Ministry.

Mr. Mathur told journalists here on Sunday that discussions among the Central and State governments and the Securities and Exchange Board of India (SEBI) would cover a number of issues, including pricing.

About 10 days ago, in a letter to Prime Minister Manmohan Singh, Ms. Jayalalithaa offered to purchase the stake through State public sector undertakings.

Mr. Mathur said the SEBI had agreed to consider her offer.

It was up to the Coal Ministry (under whose administrative control comes the NLC) to discuss the implications of the latest development with the NLC management and unions, which had been on strike since July 3 to protest the disinvestment move, he said.

SEBI had set an August 8 deadline for all listed Central public sector units to have a minimum 10 per cent public shareholding.

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At last Centre has shown some inclination of considering the
suggestion given by the Tamil Nadu Govt. We have seen how
private sector squeeze the blood of the common man with their
so called profit motive. And Power being an essential commodity
it shud be in the hands of the Govt and PSU's shud think in
terms of efficiency and care for the society since they are
enjoying the tax payers money. WIth the centre aggreeing to sell
5% stake to Tamil Nadu govt, now unions shud withdraw their strike.

from:  K.GOPU
Posted on: Jul 8, 2013 at 15:10 IST

It will be a sad day for India if the Central Government backs down
from the disinvestment in NLC under pressure from NLC unions. The
millions of tax payers in the country will be forced to continue to pay
tax to run PSUs just to give a secured Government job to PSU employees.
It is immoral that the nation wastes tax money to give a secured income
to a certain section of Indians. If we, the vast majority of Indians
working in the private sector can work without any job security why
should we pay tax to keep NLC employees under the public sector ? It is
not our responsibility. Why will the Government waste my tax to run
PSUs like NLC?

from:  Arun Mitra
Posted on: Jul 8, 2013 at 00:53 IST
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