'Anti-national' decision to hand over profit making strategically important PSU to Japanese MNC

By Tapan Sen*

The Centre of Indian Trade Unions (CITU) has voiced robust support for the striking employees of Ferro Scrap Nigam Limited (FSNL), who have embarked on an indefinite strike starting September 28, 2024. This action stems from the workers' concerns over the NDA government's aggressive efforts to privatize FSNL, undermining the legal framework established in India.

CITU is urging the central government to immediately retract its supposedly anti-national decision to hand over this strategically important Mini Ratna Company to M/s. Konoike Transport Co. Ltd., a Japanese multinational corporation.

It is alarming that, while the Chief Labour Commissioner’s office is mediating with unions across FSNL's six plants—located in Durgapur, Burnpur, Vizag, Rourkela, Bokaro, and Bhilai—the central government is pressing ahead with plans to sell the company, in apparent violation of the Industrial Dispute Act of 1946 and other labor laws. Steel is a critical pillar of modern India, and the public steel sector, including companies like Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Ltd (RINL), relies heavily on FSNL for scrap handling since its inception.

Shockingly, the government has not engaged with these stakeholders regarding such a crucial matter, and the senior management at FSNL remains largely uninformed about the ongoing privatization efforts. FSNL boasts a reserve fund of approximately Rs 200 crore and movable assets worth Rs 100 crore, providing employment for over 600 employees and around 5,000 contract workers.

In the fiscal year ending March 31, 2022, the company paid an interim dividend of Rs 9.50 per equity share. FSNL managed to dispatch 36.54 lakh metric tons of scrap and handle 107.13 lakh metric tons of slag haulage—a total of 143.67 lakh tons—marking a 12.88% improvement compared to the previous financial year. The company operated at an impressive 97.81% capacity during 2021-22, underscoring its operational excellence.

The decision to privatize such a profitable enterprise appears irrational and unfounded, fueled by an unwavering obsession with privatization. The JP Shukla Committee, established by the Steel Ministry, had previously recommended converting FSNL into a subsidiary of SAIL or forming a joint venture with SAIL, RINL, and Metal Scrap Trade Corporation (MSTC).

CITU has repeatedly urged the Central government to act on this recommendation, yet instead, the government is moving to sell a well-performing public entity to a foreign corporation at a significantly undervalued price, which would result in a lasting detriment to India's public sector and its populace.

CITU condemns the Modi government's authoritarian and anti-national stance and stands firmly with the striking FSNL workers. The organization calls on its units to actively promote awareness of this issue among all workers and to rally support for this anti-privatization struggle.

---

*General Secretary, Centre of Indian Trade Unions

Comments

The soundtrack of resistance: How 'Sada Sada Ya Nabi' is fueling the Iran war

By Syed Ali Mujtaba* The Persian track “ Sada Sada Ya Nabi ye ” by Hossein Sotoodeh has taken the world by storm. This viral media has cut across linguistic barriers to achieve cult status, reaching over 10 million views. The electrifying music and passionate rendition by the Iranian singer have resonated across the globe, particularly as the high-intensity military conflict involving Iran entered its second month in March 2026.

Kolkata dialogue flags policy and finance deficit in wetland sustainability

By A Representative Wetlands were the focus of India–Germany climate talks in Kolkata, where experts from government, business, and civil society stressed both their ecological importance and the urgent need for stronger conservation frameworks.

'Fraudulent': Ex-civil servants urge President to halt Odisha tribal land dispossession

By A Representative A collective of 81 retired civil servants from the Constitutional Conduct Group has written to the President of India expressing alarm over what they describe as the wrongful dispossession of tribal lands in Odisha’s Rayagada district. The letter, dated April 19, 2026, highlights violent clashes in Kantamal village where police personnel reportedly injured over 70 tribal residents attempting to protect their community rights.

Dhandhuka violence: Gujarat minority group seeks judicial action, cites targeted arson

By A Representative The Minority Coordination Committee (MCC) Gujarat has written to the Director General of Police seeking judicial action in connection with recent violence in Dhandhuka town of Ahmedabad district, alleging targeted attacks on properties belonging to members of the Muslim community following a fatal altercation between two bike riders on April 18.

Maoist activity in India: Weakening structures, 'shifts' in leadership, strategy and ideology

By Harsh Thakor* Recent statements by government representatives have suggested that Maoism in India has been effectively eliminated, citing the weakening of central leadership and intensified security operations. These claims follow sustained counterinsurgency efforts across key regions, including central and eastern India. However, available information from security agencies and independent observers indicates that while the organizational structure of the CPI (Maoist) has been significantly disrupted, elements of the movement remain active. Reports acknowledge the continued presence of cadres in certain forested regions such as Bastar and parts of Dandakaranya, alongside smaller, decentralized units adapting their operational strategies.

Why link women’s reservation to delimitation? The unspoken political calculus

By Vikas Meshram* April 16, 2026, is likely to be recorded as a special day in the history of Indian democracy. In a three-day special session of Parliament, the central government is set to introduce a comprehensive package of three historic bills: the Constitution (131st Amendment) Bill, 2026; the Delimitation Bill, 2026; and the Union Territories Laws (Amendment) Bill, 2026. The stated purpose of all three is the same: to implement the Nari Shakti Vandan Adhiniyam (106th Constitutional Amendment) passed in 2023. However, the political intent concealed behind these measures — and their impact on the federal balance — is far more profound. It is absolutely essential to understand this.

From Manesar to Noida: Workers take to streets for bread, media looks away

By Sunil Kumar* Across several states in India, a workers’ movement is gathering momentum. This is not a movement born of luxury or ambition, nor a demand for power-sharing within the state. At its core lies a stark and basic plea: the right to survive with dignity—adequate food, and wages sufficient to afford it.

Catholic union opposes FCRA amendments, warns of threat to Church institutions

By A Representative The All India Catholic Union (AICU) has raised serious concerns over what it describes as growing threats to religious freedom, minority rights, and constitutional safeguards in India, warning that recent policy and legislative trends could undermine the country’s secular and federal framework.

Midnight weeping: The sociology of tragic vision in Badri Narayan’s poetry

By Ravi Ranjan* Badri Narayan, a distinguished Hindi poet and social scientist, occupies a unique position in contemporary Indian intellectual life by bridging the worlds of creative literature and critical social inquiry. His poetic journey began significantly with the 1993 collection 'Saca Sune Hue Kaï Dina Hue' (Truth Heard Many Days Ago). As a social historian and cultural anthropologist, Narayan pioneered a methodological shift away from elite archives toward the oral traditions and folk myths of marginalized communities. He eventually legitimized "folk-ethnography" as a rigorous academic discipline during his tenure as Director of the G.B. Pant Social Science Institute.

Counterview

Search This Blog