PTI reported that 5 major coal unions opposed the government's move to sell its stake in Coal India saying the firm is competent enough to meet its financing needs and demanded infrastructure status for the sector.

Centre of Indian Trade unions in a statement said "We express our strong resentment at the proposal of the government of India to disinvest the shareholding of Coal India in the share market."

However, the government is considering divesting up to 10% of its stake in Coal India, paving way for its early listing on the bourses.

CITU, on behalf of the 5 unions including the Indian Mine Workers Federation said "Coal India is competent enough to produce all requirements if the government provides and gives adequate facilities and the coal industry is given infrastructure status."

The trade unions are opposed to any amendment in the present act to facilitate the stake sale in CIL and the entry of private firms into mining coal. Moreover, they are not in favor of allotting blocks to private firms for their captive use.

The unions said they are opposed to allotment of virgin coal blocks in general and allotment of coal blocks within the command area of CIL given to private sector companies. We demand that all the blocks should be handed over to Coal India. We resolutely oppose the amendment to Coal Mines Nationalization Act and request the government of India to desist from doing so.

(Sourced from Press Trust of India)