Disinvestment leading to loot of national wealth: AITUC

Trade body to chalk out action plan to oppose Centre’s policies

All India Trade Union Congress (AITUC) State president Ravulapalli Ravindranath on Sunday said that national wealth was being transferred at throwaway prices to corporate companies in the guise of privatisation and disinvestment of public sector units. BSNL, LIC of India, Visakhapatnam Steel Plant and other public sector undertakings had over ₹50 lakh crore worth of properties across the country and they needed to be protected in the interest of the public and the employees of the respective companies, he added.

Mr. Ravindranath, who offered floral tributes to CPI and AITUC leader Bugata Suribabu on his first death anniversary, spoke to The Hindu on the sidelines of the condolence meeting. “Loss-making is only an excuse to sell off the public properties. The national wealth created in the last 75 years of Independent India cannot be looted with so called privatisation policies. Moreover, the government is not in a position to take the opinion of the public and stakeholders. There is no discussion in Parliament over such serious subjects which would have a long-term impact on the country,” he said.

The AITUC Central Executive Committee would meet in New Delhi on September 5 to chalk out an action plan for the protection of the interests of the workforce. He indicated that AITUC and other unions would join hands for a united fight against the Union government over the disinvestment policies. He said that the trade unions would also fight against the three farm Acts and four Labour Codes which were detrimental to the interests of over 60 crore people of the country.

Earlier, CPI district secretary Bugata Ashok urged Mr. Ravindranath to look into the issues of the workers in various industries, including jute mills, of the district. He said that many companies failed to pay the statutory PF and gratuity to the workers after announcing lockouts in violation of the Labour Department rules.

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