Neyveli Lignite Corporation’s seventeen trade unions representing 17,000 employees have decided to go on indefinite strike from July 3rd, protesting against the clearance given by the Centre to disinvest 5% stakes in the corporation. The NLC Labour Progressive Federation will issue the strike notice to the management on July 26, 2013.
The Cabinet is expected to take up the proposal to sell government’s 5% stake in Neyveli Lignite Corporation (NLC) which would help to garner around Rs 450 crore to the exchequer. Earlier this month, the Cabinet Committee on Economic Affairs (CCEA) had deferred a decision on the stake sale. The Department of Disinvestment (DoD) has again moved the proposal for sale of over 7.8 crore shares, or 5%, through an offer for sale (OFS) in the Tamil Nadu-based miner.
