NEEPCO Privatization: Trade unions urge NE States to defeat move

STAFF REPORTER

GUWAHATI: Four trade unions of the North Eastern Electric Power Corporation Ltd (NEEPCO) have vehemently opposed the Centre’s move to privatize/merge the power company.

A joint meeting of the trade unions held in the city on Tuesday morning discussed in details about the reported move to merge NEEPCO with other Central Public Sector Units (CPSU) and the proposed strategic sale of the Central Government’s stake in the power company. The meeting urged all State Governments in Northeast, political parties, MPs and MLAs, social, youth and students organizations and the public in general to come forward to defeat the Centre’s move.

Addressing a press conference at Guwahati Press Club after the meeting on Tuesday afternoon, one of the leaders of the trade unions Pradip Bhattacharjya said that the employees of NEEPCO are expressing fear and concern over reports in the media and other platforms on the move to privatize the NEEPCO. He said privatization of the NEEPCO will have an adverse impact in the North East and defeat the very purpose of setting up the power company.

According to Bhattacharjya, the NEEPCO is the only power producing company in the North East. It produced 6103.82 million units of electricity during 2018-19. From April to September this year, the NEEPCO has produced 3815 million units of electricity. The company had earned Rs 284 crore profit (after paying its dues) in the last financial year. It has been contributing immensely to the socio-economic development of the region. Over 2000 employees with the majority among them from the NE States, are employed in NEEPCO. The NEEPCO paid dividend of Rs 115 crore to the Centre which has 100 per cent stakes in the company. “Under such circumstances there can be no reason either to privatize or merge the NEEPCO. We appeal to all the Chief Ministers and State governments in NE to put pressure on the Centre to withdraw its move,” Bhattacharjya said.

A group of secretaries last month agreed to sell the Central government’s entire 100 per cent stake in NEEPCO, 53.29 per cent in Bharat Petroleum Corp Ltd, 63.75 per cent in Shipping Corporation of India (SCI), 30 per cent in Concor and 75 per cent in THDC. “The disinvestment/privatization of the NEEPCO will infringe the rights, privileges and sentiments of the indigenous people of the NE States,” another trade union leader said.

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