CPI(M) State Secretariat member Ch. Narsinga Rao on Monday welcomed the takover of the management control of Dredging Corporation of India Limited (DCIL) by the consortium of four major ports led by Visakhapatnam Port Trust (VPT).
“The NDA government after planning privatisation of the PSU had to take a U turn owing to the pressure mounted on the authorities close on the heels of the death of an employee, who took his life due to fear of job insecurity,” Mr. Rao, who is also CITU State president, said.
The decision to retain the DCIL in the government sector was good for the employees , he observed.
Stating that the strategic sale of DCIL under the alibi of shrinking profits and inability to compete with private players was a threat to livelihoods of employees, he said, adding that the buying of government security for nearly ₹1,100 crore by the four ports would help maintaining the company as a public entity.
