National   

Left attacks decision on EPF rate

By Our Special Correspondent

NEW DELHI, AUG.10. The Left parties today demanded that the Government reconsider the decision of the Government to reduce the interest rates of Provident Fund deposits and initiate a dialogue with trade unions to arrive at an amicable solution.

`Unacceptable'

Terming the decision "unacceptable," the Communist Party of India (Marxist) said that with the inflation rate going up there was no justification whatsoever for a reduction in the PF interest rates. In a statement, the party Polit Bureau said the reduction would harm the workers as it would erode their savings further.

The party regretted that departing from tradition the Central Board of Trustees (CBT) had taken a decision not by consensus this time but on the basis of the majority bypassing the protests of the representatives of the central trade unions.

"It is unfortunate that the United Progressive Alliance Government continues with the patently anti-worker policies of the previous National Democratic Alliance Government,'' the statement said.

Describing the move as "unilateral and unacceptable," the Communist Party of India said the employees and other sections of the toiling people expected the UPA Government to "undo the wrong things done by the previous NDA Government, not to pursue the same course. There was full justification in what the trade unions were demanding."

The party central secretary said it would take up the issue in the UPA-Left coordination meeting, as well as support the workers' agitation against this unjustified reduction in interest.

It also demanded that the UPA Government "instead of taking a one sided and unreasonable decision'' initiate a dialogue with the trade unions on the question.

Printer friendly page  
Send this article to Friends by E-Mail

National

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary | Updates: Breaking News |

Stories in this Section

• Special Powers Act cannot be withdrawn: Pranab
• Left attacks decision on EPF rate
• Parivar activists stop bus carrying tribal Christians
• Don't push up commodity prices, Chidambaram warns producers
• Minimum support price for paddy raised
• Celestial sparklers: make a wish tonight
• Elangovan for Thailand
• Education loan scheme simplified
• Uproar in Assam Assembly over ISI's activities
• 'Starvation deaths' in Bihar
• Talks only within Constitutional framework: Minister
• Understanding complex networks
• Government may try to avoid oil price hike
• Jayalalithaa writes to Manmohan
• 'Welcome service' for a fee at airports

Copyright © 2004, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu