Employees of the public sector unit BEML here will launch a serial dharna from today to protest the government’s move to sell its 26% stake in it.
The government recently approved the disinvestment move to reduce its shareholding from 54.03% by 26%, effectively reducing its stake in the PSU to 28.03%. The BEML Employees’ Association in Mysuru called the move a step towards the privatisation of the unit.
The company began with a capital investment of ₹5 crore in 1964 and has achieved a turn over of nearly ₹3,500 crore in the present times. Privatisation will hamper the future of the employees and those appointed on a contract basisthe association maintains. There will be serial demonstrations from February 9 to 11. Employees will wear a badge stating ‘Save BEML, Save Nation’.
BEML is a public sector undertaking with specialisation in the manufacture of mining and construction equipment, rail and metro coaches. It is also engaged in supplying ground support system to defence such as trucks, towing tractors, recovery vehicles, bridge systems, and more.
