PALAKKAD: The joint action council of trade unions in the Kanjikode unit of Indian Telephone Industries Limited (ITI), a Central public sector undertaking, has alleged that the corporate management in a written order has directed to transfer the loss of other units to the profit-making Palakkad unit.
In a joint statement here on Monday, general secretaries of ITI Employees’ Union and ITI Employees Association said in the last financial year of 2007-08 the Kanjikode unit had a turn over of Rs.219.38 crore and made a profit of Rs.50 crore.
But the management directed to transfer the loss of other units to Kanjikode unit. For example, an amount of Rs.31 crore which is the interest of loan taken by other unit is transferred to the Kanjikode unit.
The Kanjikode unit has earned Rs.55 crore as income from the annual maintenance contract work through out the country. The telephone exchanges of BSNL and MTNL are maintained by the Kanjikode unit. This earning is included in the account other units. The Palakkad unit had spent Rs.16 crore for the contract. Even this amount was not given to it its account from the Rs.55 crore earning, the statement said.
The interest share of Palakkad unit is only Rs.10 crore but an amount of Rs.31.45 crore was shown as interest in its account which included the interests of loan taken by other units.
The council said the Kanjikode unit was making profit continuously for the last 13 years where as the other five units of ITI are making losses. Thus the directive issued by the management to transfer the losses of other units to the Kanjikode unit was a deliberate attempt to make it a loss-making unit.