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Over 23 lakh PSU workers to strike work today
Over 23 lakh employees of about 250 Central public sector undertakings (CPSUs) will go on a day-long nationwide strike tomorrow to demand settlement of long-pending issues and to oppose the Centre’s economic liberalisation policies and its moves to privatise the public sector. The strike has been called by the Committee of Public Sector Trade Unions, the body representing all major national trade unions including CITU, ATTUC and HMS. Among other major demands like higher wages are introduction of the slab system of variable dearness allowance, which the leaders say has been pending implementation since 1992, pension and revival of sick units. The unions are opposing the Government’s “refusal to share the responsibility of reviving sick PSUs which have reached such a stage due to its own policies,” the leaders said.
DCA awaits CBDT views
The Department of Company Affairs (DCA), which is considering an industry proposal to recognise demerger of companies in the recodified Companies Act, is of the view that the issue should be first examined by the Central Board of Direct Taxes (CBDT). DCA officials say that their decision would hinge largely on the CBDT views on tax liability and the loss of revenue on account of recognition of demergers, which would invariably call for tax exemptions for the companies breaking up into separate units. The DCA has recently written to several industry associations asking them to put forward concrete proposals for the inclusion of provisions for the recognition of demergers in Company Law. Officials say earlier suggestions put forward by the associations were couched in general terms, and could not be acted upon.
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