BJD Protests Nalco Divestment Move

Published: 10th May 2015 06:02 AM  |   Last Updated: 10th May 2015 06:02 AM   |  A+A-

BHUBANESWAR:The Biju Janata Dal (BJD) has lodged a strong protest against the Centre’s decision to disinvest 10 per cent stake of Navratna public sector undertaking (PSU) National Aluminium Company Limited (Nalco).

All 23 BJD MPs from Odisha submitted a memorandum in this regard to Union Minister for Steel and Mines Narendra Singh Tomar at New Delhi on Friday.

“All BJD MPs submitted a memorandum to the Union Minister in protest against the decision of the Centre,” Leader of BJD Parliamentary party Bhartruhari Mahatab told this paper. Mahatab said attempts were made in the past by the NDA and UPA Governments at the Centre for disinvestment of shares from Nalco. Again a move in this regard has been started by the Centre now, he said.

Stating that there is no need for disinvestment from Nalco now, Mahatab said BJD will oppose it both within and outside the Parliament. The memorandum maintained that when a company is earning profit since its inception and has been bracketed among the Navratna group of companies, there is no need for its disinvestment.

The Union Minister, however, said the decision has been taken by the Finance Ministry to improve finances of the company. The Cabinet Committee on Economic Affairs had taken a decision in this regard at its meeting last month in New Delhi.


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