Will EPS emulate Jayalalithaa in NLC divestment issue, asks Opposition

As reports emerged about the Centre proposing to divest 5% stakes initially (15% under consideration), principal Opposition party DMK has asked the state to drop the move. DMK’s trade union wing LPF (Labour Progressive Federation) has cautioned that it would mobilise all trade unions if the Centre does not drop the proposed divestment. 

Claiming that NLC, which nets over Rs 1,000 crore annual profit and pays a dividend of Rs 3,000 crore to the Centre, LPF general secretary M Shanmugham has questioned the AIADMK ministers and the BJP leaders for the silence on the issue. 

Chief Minister Edappadi K Palaniswami would face heat on the issue given that it was his late leader and former CM J Jayalalithaa, who, in her 2011-16 regime, had bought 3.56% stakes in NLC in July 2013 when the UPA-II regime refused to roll back the proposed divestment of NLC stakes. PMK founder S Ramadoss, in whose Vanniyar heartland NLC is located, has threatened to mobilise people and lead a massive agitation if the Centre fails to withdraw the proposed divestment of NLC. 

Recalling how former Prime Minister AB Vajypayee had rolled back the decision to sell NLC shares during 19992004 NDA regime, MDMK leader Vaiko sarcastically asked if the Modi regime, which had even forgotten Vajpayee, would remember his policies? Asked if the government would buy stakes again, as did it in 2013, state electricity minister P Thangamani told DT Next, “We will take up the matter with the Chief Minister.”