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Govt decision May Hit 5000 Employees in THDC – Mr Birendra Uniyal

Power News - Published on Wed, 16 Oct 2019

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Times Of India reported that the Union government’s decision to dilute its controlling stake in THDC India has not gone down well with the employees of the hydro-electric power company. They believe that the proposed move will hit 5,000 employees (1,900 permanent and 3,100 outsourced) posted in Uttarakhand, Delhi, Uttar Pradesh and other states. President THDC, Supervisor Association, Birendra Uniyal, told TOI that "All the employees are shocked at the government's decision to sell the profit-making THDC. Employees would not let THDC go the HMT (Hindustan Machine Tools) way at any cost.”

Mr Uniyal added that the proposed sellout of THDC would be a big setback for Uttarakhand, which gets 12.5% royalty from THDC earnings. “In the last financial year, THDC gave Rs 1,200 crore to the central government. He added that the sell-out of almost 75% stake as is proposed would impact the state’s economy as once the THDC is privatised, thousands of people associated with the corporation would become jobless.”

Earlier this month, the central government had announced to kick off a strategic disinvestment exercise by inviting bids for sale of its stake in THDC India, Container Corporation of India and North Eastern Electric Power Corporation Limited.

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Posted By : Rabi Wangkhem on Wed, 16 Oct 2019
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