Search the Internet          Tips  Sites: Finance, Investment

Government out to sell Nalco: Singhdeo

Even as the controversy over the divestment in BALCO continued to rage, a senior Congress member in the Lok Sabha on Tuesday said that the government was out to sell off another Public Sector Undertaking (PSU), National Aluminium Company (Nalco).

Raising the issue during Zero Hour, K P Singhdeo said Nalco was likely to make a profit of Rs 6.15 billion this year and its annual turnover stood at about Rs 20 billion.

Officers of the company had gone on a two-day mass casual leave beginning Tuesday protesting against the non-implementation of the pay scales recommended for the PSU, he said, seeking immediate intervention of the government.

It appeared that "diabolical efforts" were being made by the government to sell off Nalco like Balco, he said.

Singhdeo said he did not understand why the new pay scales were being denied to the officers of Nalco.

Last year, Nalco had made a profit of Rs 6 billion. It was also earning foreign exchange, he added.

Tell us what you think of this report