Tuesday January 6, 11:29 AM Source: Financial Express

Oil PSU execs reject Govt offer of talks

Oil PSU executives have rejected the Government offer of talks on their wage demands and will strike work indefinitely from Wednesday, even as Oil Minister Murli Deora once again appealed to them to call off the agitation plans.

The Oil Sector Officers Association (OSOA), which claims to represent executives at 14 state-run firms, is protesting against a pay increase smaller than it had demanded.

"We are only being offered verbal assurances and there is nothing concrete," OSOA President Amit Kumar said.

Kumar, who yesterday met BJP's Prime Ministerial candidate L K Advani on the issue, said no talks were planned with the Government. "There is no point talking to Deora or the Petroleum Ministry as they have nothing to offer us."

Officers of Hindustan Petroleum are not participating in the strike, while those of Oil India Ltd may also not join the agitation.

Deora asked executives not to strike as the nation is going through a difficult economic phase even as it grappled with terrorism originating from foreign soil.

"A strike in the oil sector can cripple the economy and cause severe hardship to citizens," he said. "We are not vindictive against our own officers. All we want is that the economy is not be impacted and citizens are spared of any hardship."

Deora this morning spoke to Home Minister P Chidambaram and several state chief ministers, including Ashok Chavan of Maharasthra and Tarun Gagoi of Assam, for safety and security of the oil installations during the agitation.

He also wrote to all the chief ministers, asking them to invoke Essential Supplies Maintenance Act (ESMA) to ensure that auto and cooking fuel supplies are not choked. Punitive National Security Act (NSA) would be invoked in states that do not have ESMA.

Also, contempt proceedings against OSOA office bearers has been initiated in high courts, which had barred the body from striking till next date of hearing in February.

RECENT BUSINESS NEWS

RELATED NEWS

RSS FEEDS

All headlines to your personalized My Yahoo! page
(Learn about My Yahoo! and RSS)
  • All Business News
  • India Business News
  • World Business News
  • Personal Finance News
More Finance RSS Feeds




Quotes delayed, except where indicated otherwise.
Delay times are 15 mins for BSE and NSE(when not logged-in) See also delay times for other exchanges.

All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Prior to execution of any security trade, you are advised to consult your authorized financial advisor to verify the accuracy of all information. Neither Yahoo! nor any independent provider is liable for any informational errors, incompleteness or delays or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found herein.