 "Divestment, privatisation, stake sale, disinvestment")
Privatisation of public sector units (PSUs) is against the interest of the people of the country, according to trade union AITUC.
Prime Minister Narendra Modi on Wednesday made his strongest pitch for privatisation of non-strategic PSUs, saying the government has no business to be in business and sustaining loss-making units on taxpayers' money drains resources that could otherwise have been spent on public welfare schemes.
Speaking at a webinar on privatisation by the Department of Investment and Public Asset Management (DIPAM), he said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors.
In a statement issued on Thursday, the All India Trade Union Congress Trade Union (AITUC) said "it deplores the policy of selling the PSUs, the national wealth to the corporates of Indian and foreign brand against the interest of our people and our country."
It said AITUC calls upon its unions, the working people and the general masses at large to "fight back these policies" of the government.
The AITUC is among ten central trade unions.
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