INTUC demands judicial inquiry to the reducing profit of NALCO
12 June, Bhubaneswar
Indian National Trade Union Congress (INTUC) president, Odisha Branch, Ramachandra Khuntia Monday demanded a judicial inquiry into the reducing profit of public sector Navaratna Company NALCO also demanded stern action against the officials responsible for it.
Khuntia said, NALCO which has made a profit of Rs 2,300 crore at one time has now been reduced to Rs 600 crore due to the wrong policy of the central government.
He said, the decision of the central government to invest crores of rupees in coal mine lease project in Indonesia and to stop it later, investment of Rs 2,052 crore in bauxite mines and refinery project in Gujarat, plan to sale NALCO’s alumina to Iran to convert it to aluminium and to take up various loss making projects like wind power and solar power was incorrect.
Mr Khuntia said a judicial inquiry should probe into it and fix responsibility on officers responsible for the loss and action should be taken against such officers.
The trade union leader also alleged that the BJP led government at the centre was making a big conspiracy against profit making NALCO and the people of Odisha. The Union government was trying to disinvest 65 per cent share of the company and privatise the profit making NALCO, the only public sector unit of the state.
The INTUC leader strongly condemned the attempt to disinvest NALCO and demanded the Union government to refrain from such action.
He threatened that the INTUC will launch a massive statewide agitation if the Union government did not clarify its stand within a month. The former MP said agitation would be launched in all the block, subdivision, district headquarters level of the state to oppose the disinvestment. The details of the agitation would be chalked out later, he said.
Mr Khuntia said, memorandum would be submitted to the President, Prime Minister, leaders of Opposition in both the houses of Parliament and to all parliament members in this regard.
The INTUC leader said the decision of the central government to disinvest NALCO was totally wrong.
He said, NALCO was set up with an investment of Rs 1,200 crore by the central government. But so far, the Union government has received Rs 6,700 crore as dividend, Rs 2,385 crore in 2016-17 towards buy back, Rs 2,088.22 crore through capital investment, Rs 21,400 crore towards tax.
Odisha government has received Rs 5,800 crore as tax and the company has spent Rs 285 crore under CSR activities for the development of the state. In addition to it, 90 per cent of the total employees of the NALCO are from Odisha.
Mr Khuntia asked while the Central government and the state government haven received so much of money from the company why the Union government was trying to disinvest the company.
The trade union leader also alleged that the since 2002 NALCO was opposed to sale alumina to Vedant. But the BJP government now planning to sale NALCO’s alumina to Vedant. While the Union government was allowing private companies like Vedant to export its products it banned NACLO to export aluminium with a clear objective to promote the private companies and to see that NACLO became a loss making unit. So that it would pave the way for privatising it.
Mr Khuntia strongly opposed the proposal to sale NALCO’s alumina to Vedant.
He said, while NALCO has got mines clearance, environment clearance in its own effort and got the bauxite mines through gram sabha the decision to sale its semi raw material to Vedant is condemnable, he said.
He also questioned the Odisha government ‘s silence over the issue this time. He said while earlier the Odisha government was vehemently opposing the disinvestment of NALCO but this time it was mysteriously silent over the issue.