The Hindu : `Govt. creating crisis in TTP'

Online edition of India's National Newspaper
Saturday, Feb 22, 2003

Southern States

Southern States - Kerala-Thiruvananthapuram

`Govt. creating crisis in TTP'

THIRUVANANTHAPURAM Feb. 21. The Titanium Workers' Union has accused the Government of trying to create a crisis in the Travancore Titanium Products (TTP).

The union president and AITUC leader, Nanthancode Karunakaran, said in a statement here that the company, which had been running in profit for the past 50 years, had incurred a loss of Rs. 5.60 crores and 3,300 tonnes of titanium products worth Rs. 25 crores were remaining unsold. The titanium products manufactured by other nations had captured Indian market following globalisation and the reduction of import duty from 133 per cent to 33 per cent by the Central Government.

The repeated requests of the unions to the Chief Minister and the Ministers concerned to reduce taxes and permit direct trading have fallen on deaf ears. When the Government asked the employees to reduce their benefits by 25 per cent, they voluntarily reduced it by 30 per cent to cut the production cost.

Still, the Government was inactive. The State Government did not move the Centre to initiate action under anti-dumping rules and hence the crisis continued, he said.

Now, the Government was trying to revamp the company with private participation. This would lead to the privatisation of the company. He called upon the workers to resist such moves.

Printer friendly page
Send this article to Friends by E-Mail

Southern States

Stories in this Section

Now, GPS to track KSRTC buses

Spurious soda posing health hazard

`Govt. creating crisis in TTP'

Security tightened

Tourism project under way at Veli