The powerful staff union at state-owned Bharat Sanchar Nigam Ltd (BSNL) have written to the management, stipulating unequivocally that they intend to block the proposed 30% stake sale in the firm.
The union plans to hold a demonstration on March 15 to…
The powerful staff union at state-owned Bharat Sanchar Nigam Ltd (BSNL) have written to the management, stipulating unequivocally that they intend to block the proposed 30% stake sale in the firm.
The union plans to hold a demonstration on March 15 to mark its disapproval of the divestment. As of press time, there was no indication that this would be a violent protest.
In addition to the stake sale, the union is also opposing a proposal for the company to offer voluntary retirement to about 100,000 employees.
The state of India is selling parts of state-run assets as it seeks to bridge a fiscal deficit that it estimates could hit 6.7% of GDP this year.
