NEW DELHI- Hardening their stand on the current economic reforms all the major trade unions ejected the “concept paper” on the proposed National Renewal Fund at the second tripartite committee meeting here on Monday.
Significantly trade union leaders including those from the Congress (I) affiliated Indian National Trade Union Congress (INTUC) discarded union finance minister Manmohan Singh’s proposed “social safety net” for the retrenched workers as a consequence of industrial restructuring.
At the meeting convened by the union minister of state for labor P.A. Sangma the government conceded two important demands of the labor. It agreed that revival of the sick public sector units (PSUs) would be achieved without retrenching the existing workforce.
The government also accepted the TU suggestion that while dealing with the sick units their losses accumulated in the past should not be taken into account. TU sources think this decision alone would help many units emerge out of the red.
Addressing the meeting the finance minister emphasized that the country would not able to come out of its present economic crisis unless the industry was revamped. He also reassured the labor leaders that the government had no intention to retrench the workers.
The meeting decided to set up six committees comprising representatives of the government management and labor for six areas: textiles engineering jute electricity road transport and chemicals. These committees will look into the reasons for sickness of the 58 PSUs in these segments.
Article extracted from this publication >> January 31, 1992
