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Money > Business Headlines > Report March 21, 2001 |
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Politicans whip up frenzy against Balco selloffSandip Das The world knows Anil Agarwal as the pugnacious chairman of Sterlite Industries who took over Malco, attempted to take over Indian Aluminium and bought Balco from the Indian government. But for politicians camping at Balconagar, he is the London-based head of 'East India Company' who has bought Balco 'cheap' from the government. In short, a modern day Robert Clive. "We are going to lose our independence to East India Company," thunders a politician at one of the countless roadside meetings at Parsabata, the local marketplace. And the crowd, which includes a huge number of local tribals, laps up every bit of the venom spit on Agarwal. Obviously, the government's compulsions for divestment doesn't mean a thing for the crowd. They are yet to come to grips with the reality that one of the oldest 'sarkari' aluminium companies has suddenly shifted to the private sector. And for local politicians, the privatisation of Balco has come like manna from heaven-an ideal platform to show their support for the tribal cause. Some like veteran Congress leader VC Shukla go a step further. While addressing the agitating workers in this industrial township, Shukla dishes out a new concoction for his audience: Balco supplies aluminium used in the production of defence equipment and the deal, therefore, compromises on national security. The audience listens to him in rapt attention. Such accusations have several believers. Minutes after Shukla left the podium, Rajesh Mishra of BMS and a spokesman of Balco Bachao Sanyukta Abhiyan Samiti, an umbrella organisation of seven major trade unions, said: "We don't want to talk to the private owners as they are not interested in running the company." Meanwhile, SC Krishnan, the new managing director of Sterlite, has appealed to the workers to join duty. Krishnan in a message said that since Sterlite took over Malco in 1995, not even a single worker has been asked to leave. However, the politicians are trying hard to ensure that his statement finds few takers amongst the striking employees. ALSO READ:
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