Business Daily from THE HINDU group of publications
Tuesday, Aug 15, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 15, 2006 |
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Industry & Economy
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PSU States - Andhra Pradesh AP public enterprise reform order scrapped Our Bureau
As per the GO, it was proposed to slash about 60,000 jobs in two of the largest State corporations.
Hyderabad , Aug.14 The Andhra Pradesh Government has decided to withdraw the controversial GO (Government Order) No. 5, on public enterprise reform, which has planned to slash some 65,000 jobs to restructure enterprises. Given the concerns expressed by various sections of employees of some select public enterprises and political parties, the Chief Minister, Dr Y.S. Rajasekhara Reddy, on Monday announced the cancellation of the Government Order. This was aimed at the third phase of public enterprise reform process. This follows a decision at a meeting held in the State Secretariat here on Monday.
Restructuring process
It may be recalled the GO No. 5 was released by the State CPI(M) Secretary, Mr B.V. Raghavulu, at a press conference in New Delhi last month highlighting how the State Government had drawn up plans to downsize staff in public enterprises. He had alleged that the restructure process is part of the restructuring loan component of the World Bank. In fact, as per the GO, it was proposed to slash about 60,000 jobs in two of the largest State corporations, the Singareni Collieries Company Ltd and the Andhra Pradesh State Road Transport Corporation. The Government later sought to clarify that there would not be job cuts and kept the GO in abeyance. The Chief Minister, in a statement on Monday, said that the Government was keen to revive the sick and non-performing public enterprises and co-operative societies.
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