SUBHASH MISHRA
Dhanbad, May 28: Bhartiya Mazdoor Sangh (BMS), the labour wing of the BJP, has strongly opposed the decision of the Coal India Limited (CIL) Board to sell 25% shares of its subsidiary company Bharat Coking Coal Limited (BCCL).
Akhil Bhartiya Khadan Mazdoor Sangh (ABKMS), an affiliated unit of BMS while strongly opposing the decision, has warned the CIL management to either withdraw the resolution or face a furious movement from the miners.
ABSMS executive president Mahendra Singh said that the decision of CIL to sell 25% shares of BCCL that has been endorsed by the Board in principle is wrong and the resolution should be withdrawn with immediate effect in the interest of the company as well as miners otherwise miners would launch relentless agitation.
CIL on May 27 announced its plans to sell a 25% share of BCCL and then list it on stock exchanges. The CIL management said the Board had taken this decision at its meeting on March 10 and forwarded the proposal for approval of the Ministry of Coal.
“Selling of 25% share of BCCL is nothing but a step towards privatization of Coal India Limited,” said Mahendra Singh, president of Akhil Bhartiya Khadan Mazdoor Sangh.
Protest of ABKMS keeps significance as it has always supported the decisions of the central government and keeps a separate stand from other recognized central trade unions in the coal industry.
During the two-day nationwide strike on April 28-29, while all trade unions including INTUC, CITU, HMS, and AITUC had supported, ABKMS (BMS) did not participate and opposed the strike in the coal industry.
According to CIL’s official record, BCCL witnessed a massive drop in sales which put a negative impact on its financial health. The company’s net turnover in the financial year 2021 was Rs 6,149.81 crore as compared to Rs 8,967.56 crores the previous year. The negative trend has prompted the management to sell the 25% share.
