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18 Jan, 2015 12:08 PM

Finance Minister assures : No privatisation of Railways or Coal India

Finance Minister assures : No privatisation of Railways or Coal India
The Finance Minister Arun Jaitley assured the unions that the government did not intend privatizing either the Railways or Coal India. The minister on Saturday was having a pre-Budget meeting with representatives of 11 trade unions including AITUC, the Centre for Indian Trade Unions (CITU), Bhartiya Mazdoor Sangh (BMS), and the Indian National Trade Union Congress (INTUC).

The unions demanded immediate stopping of the process of disinvestment in profit-making public sector units, as well as Budgetary support for revival of sick state-run units that are potentially viable. "In particular, we opposed the ordinance on the coal sector, insurance sector and Land Acquisition Act. We demand all such ordinances should be withdrawn forthwith," All India Trade Union Congress (AITUC) secretary DL Sachdev told reporters after the meeting.

A joint statement by the 11 unions said, "Concrete steps must be taken to recover huge accumulated unpaid arrears which has already crossed Rs. 5 lakh crore on direct and corporate tax accounts alone."

The minister conveyed that "Government has no intention to privatize either Railways or Coal India. The focus of the government is to create more jobs and employment opportunities, besides safeguarding the existing jobs".

"The focus of the government is also to give a better environment for ease of living for the common man," he added.



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