Some Coal India unions ask Citu wing to withdraw strike notice
18 Aug 2013 4:19 AM IST
With one of the unions serving strike notice to Coal India Limited (CIL) opposing proposed stake sale in PSU, the five operating trade unions of the maharatna company may meet on 18 August to persuade AICWF to withdraw the proposed agitation. CITU-led All India Coal Workers' Federation (AICWF) has served notice to the PSU for a three day strike beginning 19 September against divesting stake in Coal India.
'The five central trade unions (CTUs) are meeting on 18 August in Ranchi to discuss various issues. During the meeting we will also request AICWF to withdraw the strike notice,' Indian National Mineworkers' Federation (INMF) secretary general S Q Zama said.
Indian National Trade Union Congress-affiliated trade body INMF had earlier termed the strike notice by AICWF as an isolated action that is against the consensus reached among five central trade unions.
Coal India workers are represented by five unions Indian National Trade Union Congress, Hind Mazdoor Sabha (HMS), Bharatiya Mazdoor Sangh (BMS), AICWF and All India Trade Union Congress (AITUC).
The government, which originally planned to sell a 10 per cent stake in CIL, had halved it to 5 per cent in a bid to placate trade unions. Coal Minister Sriprakash Jaiswal had earlier said that three of the five major trade unions had given their consent to proceed with the 5 per cent stake sale.
The government had earlier said that it will select as many as seven merchant bankers to manage the share sale and has invited bids in this regard by 26 August.
According to industry analysts, a single day's strike may result in Coal India Limited losing more than 1 million tonnes of production.
The company's output in 2012-13 was at 452.21 million tonnes.The government holds a 90 per cent stake in Coal India Limited. The company was listed on the bourses in 2010 after the government raised Rs 15,199 crore by selling a 10 per cent stake in the country's biggest initial public offering.The company accounts for over 80 per cent of domestic coal production and has a cash balance of about Rs 60,000 crore.
'The five central trade unions (CTUs) are meeting on 18 August in Ranchi to discuss various issues. During the meeting we will also request AICWF to withdraw the strike notice,' Indian National Mineworkers' Federation (INMF) secretary general S Q Zama said.
Indian National Trade Union Congress-affiliated trade body INMF had earlier termed the strike notice by AICWF as an isolated action that is against the consensus reached among five central trade unions.
Coal India workers are represented by five unions Indian National Trade Union Congress, Hind Mazdoor Sabha (HMS), Bharatiya Mazdoor Sangh (BMS), AICWF and All India Trade Union Congress (AITUC).
The government, which originally planned to sell a 10 per cent stake in CIL, had halved it to 5 per cent in a bid to placate trade unions. Coal Minister Sriprakash Jaiswal had earlier said that three of the five major trade unions had given their consent to proceed with the 5 per cent stake sale.
The government had earlier said that it will select as many as seven merchant bankers to manage the share sale and has invited bids in this regard by 26 August.
According to industry analysts, a single day's strike may result in Coal India Limited losing more than 1 million tonnes of production.
The company's output in 2012-13 was at 452.21 million tonnes.The government holds a 90 per cent stake in Coal India Limited. The company was listed on the bourses in 2010 after the government raised Rs 15,199 crore by selling a 10 per cent stake in the country's biggest initial public offering.The company accounts for over 80 per cent of domestic coal production and has a cash balance of about Rs 60,000 crore.
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