Left Menu
Development News Edition

BMS opposes Air India sale, asks govt to revisit decision


BMS opposes Air India sale, asks govt to revisit decision

RSS-affiliate Bharatiya Mazdoor Sangh (BMS) on Tuesday opposed Air India sale, and urged the government to think over this decision. "Ever since inception, public sector undertakings have been the driver of growth and value creation. Perhaps they are the only enterprises in India that fulfilled all the objectives laid out according to the Industrial Policy Resolution of 1956," a BMS statement said.

The union also said that it is unfortunate that they (PSUs) are being sold in the name of resource mobilization to fund social spending. The union is of the view that selling PSU to private players is not going to help the government in mobilizing resources and funding social spending because privatization does not free the government from its responsibilities.

There are certain segment in which both public as well private sector enterprises are not being able to perform and there are cases in which private players failed to generate own resources, they simply took the money in form of loans from banks (many in the public sector) and then they failed to repay the loan, deepening non-performing asset crisis, it added. The PSU also pointed out that while calculating profit and loss of Air India one need to think of the fact that it has been operating many of the low-profit or loss-making routes only to serve the passenger and connecting people with one another promoting national unity - in which any private player will not be operating.

Privatisation of Air India can have a cascading impact; like many of those airports which will lose the flight may face further crises, many of the emerging cities may face the crisis of connectivity etc, it added. Keeping these issues in mind the BMS urge the government to think hundred times before going for the disinvestment of Air India, the union said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Videos

Latest News

Soccer-Leeds goalkeeper handed eight-game ban after racism charge

Leeds United goalkeeper Kiko Casilla was banned for eight matches and fined 60,000 pounds 77,964.00 on Friday after being found guilty of racist abuse in a Championship match against Charlton Athletic last September. The FA said the 33-year...

Lebanon closes schools until March 8 to curb coronavirus spread

Lebanons Education Ministry on Friday announced the closure of all schools until March 8 as a precaution against the spread of the coronavirus.The announcement came as the countrys fourth case of the virus, affecting a Syrian national quara...

FACTBOX-Global central bankers on coronavirus, possibility of rate cuts

With the rapid global spread of the new coronavirus and the U.S. stock market suffering its worst week since the Great Recession, central bankers around the world are under rising pressure to reduce borrowing costs to create a cushion again...

Panthers aim to regain confidence against Blackhawks

The disheartened Florida Panthers will host the Chicago Blackhawks on Saturday night in Sunrise, Fla. Florida squandered an early two-goal lead and dropped a 5-3 decision to Toronto in a crucial home game on Thursday night. The Panthers tra...

Give Feedback