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Trade unions oppose NALCO privatisation
By Our Special Correspondent
NEW DELHI
NOV. 27.
Major trade unions of Orissa today organised a convention against the privatisation of National Aluminium Company (NALCO) and urged the Government to revise its plans of handing over the company to private hands. They plan a protest march to Parliament tomorrow against the Centre's apathy to their demands.
The company has been operating with 100 per cent capacity utilisation for several years while net profits have remained high, despite fluctuations in the international aluminium prices. Only on Tuesday, the company announced payment of Rs. 224 crores dividend to the Government for the previous fiscal. Moreover, Nalco has also been making fine quality aluminium for meeting defence requirements.
Speakers at the convention said that handing over of Nalco would also mean ceding control on huge bauxite resources.
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