Public sector units mustn’t be made to die a natural death
“The private players in metals producing industry have been obliged with mines, then why has the government not accorded this right to a public
sector company,” argues K. K. Sharma of the Centre of Indian Trade Unions (CITU) while speaking to B&E. Yes, it is a fact that Essar, Jindals & Posco have all been obliged with mining rights to extract iron ore but the government not granted this privilege to Rs.91.26 billion strong Rashtriya Ispat Nigam Limited (RINL). Now, in order to protect the public sector unit, the workers belonging to 19 different trade unions have dissolved their differences to project a united front to put forth their demand to the government. RINL, which gets the raw material from National Mineral Development Corp. (NMDC) is facing the crunch because the NMDC has hiked the iron ore prices, plus they now have to face enhanced competition. The trade unions fear that such a situation will eventually sound the death knell for the company.
Why indeed should the private industry be given preference? Level playing fields need to provided for all to grow. All efforts to deliberately stymie the growth of the performing PSUs should be opposed tooth & nail.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
“The private players in metals producing industry have been obliged with mines, then why has the government not accorded this right to a public
sector company,” argues K. K. Sharma of the Centre of Indian Trade Unions (CITU) while speaking to B&E. Yes, it is a fact that Essar, Jindals & Posco have all been obliged with mining rights to extract iron ore but the government not granted this privilege to Rs.91.26 billion strong Rashtriya Ispat Nigam Limited (RINL). Now, in order to protect the public sector unit, the workers belonging to 19 different trade unions have dissolved their differences to project a united front to put forth their demand to the government. RINL, which gets the raw material from National Mineral Development Corp. (NMDC) is facing the crunch because the NMDC has hiked the iron ore prices, plus they now have to face enhanced competition. The trade unions fear that such a situation will eventually sound the death knell for the company.Why indeed should the private industry be given preference? Level playing fields need to provided for all to grow. All efforts to deliberately stymie the growth of the performing PSUs should be opposed tooth & nail.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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