Strike threat clouds plan for further disinvestment at Coal India

The nation-wide strike call has been given from September 23 to 25

The Centre’s plan for a second dose of divestment of its stake in Coal India Ltd. (CIL) has come under a cloud following a three-day strike call given by all the five central trade unions in the coal sector. The unions are stiffly opposing the disinvestment proposal. The nation-wide strike call has been given from September 23 to 25—putting production of an estimated three million tonnes of coal at stake.

Though the second round of divestment in CIL is at the top of the unions’ agenda , they have also included the proposed restructuring of CIL and other service-related demands in their notice.

The unions participating in the proposed agitation will include the affiliates of the Indian National Trade Union Congress (INTUC), the Bharatiya Mazdoor Sangh (BMS), and the three left trade unions , the Centre for Trade Unions (CITU), The Hind Mazdoor Sabha (HMS) and the All India Trade Union Congress.

The Centre had proposed to reduce its stake in CIL by another 10 per cent. CIL had become a listed company in November 2010 through an initial public offer when a 10 per cent divestment was made. However, following objection from the trade unions, the second offering was reduced to five per cent.

A letter from the Editor

Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jun 3, 2020 3:47:15 PM |

Next Story