Neyveli selloff: PM offers sops

July 03, 2006 16:25 IST

Prime minister Dr Manmohan Singh has assured the Tamil Nadu chief minister K Karunanidhi that the interests of the employees of Neyveli Lignite Corporation would be kept in mind while disinvesting the NLC, one of the premier companies run by the public sector.

This was conveyed to Karunanidhi in a letter by Dr Singh dated July 3 that was released to the media by PMO on Monday afternoon.

"In response to a request from the Chief Minister of Tamil Nadu, Dr. M. Karunanidhi, the Prime Minister has assured that while disinvesting 10

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per cent of the shares of Neyveli Lignite Corporation, the government will provide for sufficient allocation of shares to the employees, as desired by them, on a preferential basis so that they have a stake in the future of the corporation," the release said.

Karunanidhi had written to Dr Singh against the divestment of the Neyveli Lignite Corporation after the government announced divestment in some of the key public sector undertakings few days' back.

A correspondent in New Delhi

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