Industry & Economy
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Petroleum
Oil sector staff to observe strike on Dec 16
Our Bureau
Kochi
,
Dec. 8
THE oil sector employees all over the country will observe a one-day token strike on December 16 to protest against the move of the Union Government to file review petition against the Supreme Court verdict on the BPCL/HPCL privatisation case as well as to sell 5 per cent of ONGC shares and 20 per cent of IOC shares.
A statement issued here by the Petroleum Employees Association affiliated to CITU alleged that the move of the Government is viewed as a ploy to help the prospective national and multinational bidders for shares of the oil companies in the country. Employees of Oil India, ONGC, NRL, IOCL, HPCL, BPCL and other refineries from the country will participate in the strike.
The decision to go in for one-day strike was taken at the meeting of the National United Forum Against Privatisation of oil PSU's, the national forum of oil workers, held at Guwahati on November 16.
To meet the revenue deficit of the Union Government, the oil sector is asked to pay interim dividend and the sector is paying nearly half of the revenue deficit. It is pertinent to note that the oil sector is the highest profit-making sector. In last financial year, the net profit of the sector was nearly Rs 26,000 crore. In these circumstances, "the move to sell off the shares of oil companies were quite unnecessary", the statement added.
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