BHUBANESWAR | June 29, 2017: The Centre on Wednesday clarified that it has no plans to privatise the National Aluminium Company Limited (Nalco), a Navaratna public sector enterprise. The clarification comes days after Chief Minister Naveen Patnaik opposed further disinvestment on the Central PSU and reports published in a section of the press about privatisation of Nalco.
“It has come to the notice of the Government of India regarding a news item appearing in a section of the Press that the Government is trying to privatise National Aluminium Company Limited (NALCO) through buyback and offer for sale (OFS). Due to such news items, Nalco is facing agitation by its workers,” the Ministry of Mines said.
Dubbing such reports as misleading, the Ministry said the Central Government is making all possible efforts to improve and further expand the capacity of Nalco so that it becomes a major producer of aluminum in India as well as at global level.
The Ministry of Mines is facilitating Nalco for enhancing its production capacity of alumina refinery by setting up one MTPA (Stream-5) at its Damanjodi facility under Phase-3 expansion at an estimated cost of `5,540 crore, a statement of the Ministry said.
“Nalco is a prestigious Navratna Central public sector enterprise and the Central Government appreciates its role in the progress of the country as well as State of Odisha,” the Mines Ministry said. To augment the bauxite reserves of the company, the Central government has recently extended the reservation of Pottangi Mines in favour of Nalco for another five years.
Objecting to disinvestment of equity holding in Nalco at regular intervals, the Chief Minister had written to Prime Minister Narendra Modi last week requesting the latter to put on hold further divestment from the company.
Earlier in the month, a delegation of Nalco employees met the Chief Minister and requested him to take up the matter relating to Nalco disinvestment with the Centre. Meanwhile, different trade unions and employees’ associations under the banner of Nalc Coordination Committee have opposed the Centre’s decision.
(Source: http://www.newindianexpress.com/)