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Business News/ Companies / News/  Coal India unions oppose share sale, threaten strike

Mumbai: Representatives of Coal India Ltd’s five trade unions met coal minister Sriprakash Jaiswal on Monday and expressed their strong objection to the government’s plan to sell a 10% stake in the market and submitted a charter of other demands, Z.Q. Zama, secretary general of the Indian National Mineworkers’ Federation, said on Thursday.

“Yes we will go for a strike after one month if the government does not heed to our demand," Zama said. “Disinvestment is the main thing. We are very certain that we cannot allow any further sale of stake of Coal India."

Jaiswal assured the unions that the matter would be discussed at the ministry and that the wishes of the unions would be conveyed to Prime Minister Manmohan Singh, Zama said. Further meetings with the unions could also be arranged.

Coal India, the world’s largest coal mining company, produced 352.21 million tonnes of coal in 2012-13, up 3.8% from the previous year. India’s rapid industrial growth needs much more coal than what the company can produce. Coal India has 357,354 employees, including officers and workers.

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Updated: 11 Jul 2013, 08:57 PM IST
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