Business Standard

Letters: IPO gainers and losers

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Business Standard New Delhi

This refers to the report “Lacklustre response to CIL IPO among MCL employees” (October 25). It is sad to see that Coal India employees were hoodwinked by the unions into believing slander. The so-called “foreign imperialism” plank that the unions used to fool their trusting followers is hogwash. The fact remains that the IPO has been oversubscribed 15 times and an overwhelming majority of it has gone to foreign funds. In the process, the unions have succeeded in grievously injuring the interests of the CIL employees. The staff should also share the blame for being lotus-eaters and letting itself deluded. It’s a sorry state of affairs that they are still clinging to shibboleths while the rest of the world marches onto prosperity.

 

Dushyant Singh Panwar, New Delhi

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First Published: Nov 01 2010 | 1:32 AM IST

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