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LS members oppose move to privatise NLC

Strongly opposing any move to privatise the profit-making Neyvelli Lignite Corporation, members cutting across party lines from the southern states in Lok Sabha on Tuesday asked the government to reject divestment commission's recommendation in this regard.

Raising the issue during zero hour, Vaiko of National Democratic Alliance's ally Marumalarchi Dravida Munnetra Kazagham said the corporation had been making profits since 1977 and there was no justification for divesting it.

Vaiko was instantly supported by members of different political parties including Congress.

Describing the corporation as the "pride of Tamil Nadu," Vaiko said it employed nearly 20,000 workers and over 10,000 people depended on it indirectly.

Vaiko said it had made a profit of Rs 7.20 billion during the current financial year against an investment of Rs 6 billion by the government.

The Commission has recommended 51 per cent divestments in the corporation, he said.

Pointing out that the corporation was catering to the energy requirements of the entire South India, Vaiko said the government should reject the Commission's recommendation.

People of Tamil Nadu have launched a peaceful agitation against the move, he said, cautioning that it should not be allowed to reach a point of "explosion."

Supporting them, former Prime Minister Chandra Shekhar said he did not understand what was the basis for its divestment.

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