Sahu rules out disinvestments in NALCO

Berhampur, Jun 21(UNI) Union Minister of Labour and Employment Chandra Sekhar Sahu today ruled out any disinvestment in the public sector National Aluminium Company(NALCO).

Mr Sahu assured a delegation of Utkal Sammilani that Nalco would remain a PSU and disinvestments would never be allowed in it.

He said Congress leaders had opposed the move to disinvestments in Nalco even during the NDA rule at the Centre.''How can we allow disinvestments in Nalco when the Congress led UPA Govt is ruling at the Centre?'' the Union Minister wondered.

Utkal Sammilani, a non-political organization spearheading agitation for development of Oriyas and the state as a whole, criticised the Union Mines Ministry for expressing the Centre's readiness to disinvest an equity stake of 10 per cent in NALCO to facilitate its expansion.

Nalco, he said, was a profit-making PSU and doing reasonably well. Offloading of 10 per cent stake in Nalco and reinvestment of the money accrued from the disinvestments in to the PSU was not at all acceptable.

A four-member delegation of Utkal Sammilani met the Union Minister of Labour and Employment Chandra Sekhar Sahu and urged him to put pressure on the UPA government.The expansion of the Nalco could be carried out from the profit margin of the PSU, the delegation told the Union Minister.

UNI XC DP KK DB2004