CPI's Raja writes to PM Modi against NALCO disinvestment

New Delhi: Opposing the privatisation of NALCO (National Aluminium Company Limited), the CPI general secretary D Raja wrote to Prime Minister Narendra Modi to withdraw the Union governments decision, PTI reported.

Raja said in his letter that workers in the company are completely against privatizing it since it is both an "anti-worker" as well as an "anti-people" move. He said that they strongly oppose the "disastrous plan" of the Modi government to implement 10% disinvestment in the aluminium company.

He said that NALCO is a Navaratna company under the Ministry of Mines. Set up in 1981, it has been at the top[ among the Central Public Sector Enterprises (CPSE) and has produced the best quality alumina and aluminium for 40 years.

Raja said that the company has been making profits since the beginning, and it continues to have consistency in track record regarding production, productivity, technology upgradation etc. It is the highest foreign exchange earner CPSE in the country and has been producing a significant share of dividends to national and state exchequers as well as the shareholders, he said. He requested the PM to reconsider disinvesting the asset and expressed his hope that PM would take positive steps regarding the matter.