Tamil Nadu - Coimbatore   

HMS slams NLC divestment move

Special Correspondent

`It is against the CMP'

Coimbatore: The Hind Mazdoor Sabha (HMS) has opposed the decision of the Union Government to divest 10 per cent of the shares of the Neyveli Lignite Corporation (NLC) and also the National Aluminium Company (NALCO).

Profit earning

In a joint statement, A.D. Nagpal, All India secretary and A. Subamaniam, Tamil Nadu general secretary of the union, have pointed out that both the companies were profit earning and also vital to the economy of the country.

While no adequate reason had been cited by the Government for the divestment of shares, "the government's move is against the Common Minimum Programme (CMP) of the United Progressive Alliance Government which has clearly stated that profit-making companies will not be privatised." They also extended the full support of the union to the agitation launched by the NLC workers in this regard.

Construction

materials

With reference to the soaring prices of the construction materials like sand, cement and steel affecting several lakhs of construction workers and the middle class people in Tamil Nadu, they alleged that the reason for this was the "profiteering mania" of sand dealers and the "unholy cartelisation and manipulated short supply" in the cement industry.

Hence, they urged the State Government to curb these tendencies with a heavy hand and arrange to drastically cut down the price of sand to Rs. 1,600 a unit and that of cement to Rs. 130 a bag of 50 kg.

Similarly, steps should be taken to bring down the price of steel, they said.

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