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Wednesday, Jul 03, 2002

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Rallies planned against FACT privatisation

Our Bureau

KOCHI, July 2

OPPOSITION to privatise the public sector Fertiliser and Chemicals Travancore Ltd (FACT) is gaining momentum as more and more organisations are coming forward against the decision of the Government to disinvest this prestigious establishment of the State.

A combined organisation of trade unions, political parties and members from the public, which convened a meeting, decided to chalk out an action plan in protest against the Government's move.

Speakers at the meeting were of the view that the decision to privatise FACT, the first fertiliser manufacturing company in the country, was not an issue confined to a particular industry alone but a policy taken against national interest.

The meeting unanimously decided to oppose this move at all costs through a mass movement comprising various organisations in the State, a press release said. A one-day seminar on `How to make FACT profitable' has also been arranged on July 5 with the participation of various technical and financial experts.

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