By Bizodisha Bureau, Bhubaneswar, April 16, 2015 :

The Naendra Modi government’s move to disinvest in the Navaratna public sector unit National Aluminium Company Limited (Nalco) has hit the road blocks with employees’ unions strongly protesting against it.

Nalco Employees Union, a recognised union of Nalco workers on Thursday stage demonstration before the Nalco’s head quarter here. The union secretary Pradip Kumar Das told the demonstrators that earlier the NDA government in 2001 tried to sell off Nalco at a cheap price and they are still making such an attempt.

]“Nalco so far has given dividend and taxes to the tune of Rs 20,000 crore to the union government. This apart, every year, Nalco has been giving 40% of its proft as dividend to the union government.” He added.
Das further claimed that the present union government has estimated to mobilize Rs 1600 crore through disinvestment proceeds. But in the last fiscal, the Nalco has reported a net profit of Rs 800 crore.

“It is ridiculous on the part of the government to disinvest in a profit making company like, Nalco. There had been attempts to sell the major stake to Anil Agarwalla owned company Vedanta Resources. However, the workers and employees together had foiled such a design.

If the Centre did not refrain from its disinvestment proposal, the union spokesperson made it clear that it would resort to strike forthwith.