Despite strike, NLC claims record performance in 2007-08

April 1st, 2008 - 11:59 pm ICT by admin  

Chennai, April 1 (IANS) In spite of the continuing labour strike for the past four days, mining-cum-power generation company Neyveli Lignite Corp Ltd (NLC) has posted record operational performance for 2007-08. Speaking to IANS, NLC officials said the company mined 21.58 million tonnes of lignite in 2007-08 against 21 million tonnes mined in the previous fiscal.

For the same period, NLC generated 17.5 billion units against 15.8 billion units generated during 2006-07.

Meanwhile, the strike by the 13,000 contract workers will enter the 5th day Wednesday.

The conciliation meeting held at the labour commissioner’s office here Tuesday was inconclusive and was adjourned for Thursday.

The All India Trade Union Congress (AITUC), representing the contract labourers, is now pressing for regularisation of the entire contract workers in line with the Madras High Court order.

According to sources, the union has put on back burner its demand for payment of bonus.

On its part, the contractors’ association has obtained an injunction order against AITUC from the Cuddalore magistrate. The workers’ union should not hinder the contractors’ normal activities towards honouring their contractual obligations towards NLC, the magistrate said in his order.

With strike entering the fifth day, it is expected that the major political parties would start voicing their views soon.

Officials said the matter would soon go to the central government that owns 93.56 percent of NLC’s Rs.16.77 billion equity capital. The balance of shares are largely with financial institutions and small percentage with individual public.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |