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CITU Opposes Selling Off of Coal India Limited Shares to the Private Companies

The Modi government is planning to sell shares of the state-run enterprise, Coal India Limited, which is the biggest mining enterprise of coal in the world. The amount of stake to be put up for sale, however, is yet to be finalised. This decision was allegedly taken after the government failed to sell the shares of Air India.However, the Centre of Indian Trade Unions has opposed the government decision to open the coal sector for commercial mining by private players. Tapan Sen, General Secretary of CITU, said: “the government has been allotting coal blocks to various private companies, which would have been impermissible as per the nationalisation of Coal Act of the Constitution, but it has now been amended, all central trade unions, however, oppose this move”.

Source: NewsClick

A Russian Fire-Sale Privatization?

According to Sergei Guriev, a Professor of Economics at Sciences Po and incoming chief economist of the European Bank for Reconstruction and Development, Russia may be considering a “fire sale” privatization of state assets, “including ‘crown jewels’ such as Rosneft (Russia’s largest oil company), the diamond monopoly Alrosa, and the flagship airline Aeroflot.”

Source: Project Syndicate